Huawei CFO, accused of fraud, faces up to 30 years in prison
At a bail hearing today, new details emerged surrounding Huawei chief financial officer Meng Wanzhou's arrest in Vancouver, Canada over the weekend. The daughter of Huawei founder Ren Zhengfei is accused of fraud with a maximum penalty of 30 years in prison, according to journalists present at the hearing. The U.S. Department of Justice alleges Meng allowed SkyCom, an unofficial Huawei subsidiary, to do business in Iran, violating U.S. sanctions against the country and misleading American financial institutions in the process.
