International

With Chinese tech exec arrested, US comes out with charges

It is close to a week that Chinese tech executive Meng Wanzhou was arrested at a Canadian airport.

The US meanwhile has gone ahead and outlined alleged efforts to conceal the ownership of a company suspected of trying to skirt U.S. sanctions on Iran.

The fraud case disclosed in a court in Vancouver, British Columbia, has relatively narrow lines.

But what it implies that U.S. claims that the heir apparent to Huawei Technologies – one of China’s biggest tech empires – misled banks about Huawei’s suspected financial links to a Hong Kong-based company called Skycom.

Meng could face up to 30 years in prison if convicted.

But the fallout from Meng’s arrest and possible extradition spills far beyond the charges at hand.

What is also worrying the industrialists and capitalists is that there is possible Chinese retaliation for targeting Meng, the daughter of Huawei’s founder.

The United States claims Huawei uses Skycom to do business in Iran to work around US sanctions

Meng was arrested at Vancouver’s airport as she traveled from Hong Kong to Mexico on Dec. 1, the same day that President Donald Trump met Chinese President Xi Jinping on the sidelines of the Group of 20 summit in Argentina.

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With Chinese tech exec arrested, US comes out with charges
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