Huawei CFO, Meng Wanzhou, who was arrested in Canada has been accused of fraud with a maximum penalty of 30 years in prison.

Meng, who is the daughter of Huawei founder Ren Zhengfei allegedly allowed the company's subsidiary SkyCom to do business in Iran, thereby violating US sanctions against the country, TechCrunch reported.

The US government has long viewed the company and its close ties to the Chinese government as a threat to national security. Huawei reportedly also received several warnings over violating Iranian sanctions.

Meng may be extradited to the US, subject to approval from the Canadian court. Meanwhile, Huawei claims that it is not aware of any wrongdoing by her. The Chinese Ministry of Foreign affairs has firmly requested Meng's release.

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