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12/7, 8:25 PM (Source: TeleTrader.com)
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Huawei's Meng charged with conspiracy to defraud banks

Huawei's Chief Financial Officer Meng Wanzhou was charged with conspiracy to defraud multiple banks on Friday and is facing up to 30 years for conspiracy case related to breaking United States sanctions on Iran.

Meng,the daughter of Huwei's founder, was arrested in Vancouver on December 1 and faces extradition to the US. The court is currently deciding whether or not to allow bail.

Earlier this week, Beijing called on Canadian authorities to release Meng, while Huawei stated that charges against its CFO were not specified. "The company has been provided with very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng," it said.

Breaking the News / JC