Chinese tech royalty Meng Wanzhou reached a deferred prosecution agreement with the US government on Friday, likely leading to Canada dropping extradition proceedings.

The Huawei CFO pleaded not guilty in a US court in a virtual New York courtroom today to several fraud charges of varying degrees, including bank frank, wire fraud, and conspiracy to commit bank fraud.

US attorney David Kessler said that Wanzhou's prosecution agreement will last four years— from December 1, 2018, to Dec 1, 2022, reports CBC.

Meng was arrested in a Vancouver airport on December 1, 2018 at the behest of the US, who requested that she be held for violating sanctions against Iran.

In what has since been called "hostile diplomacy," two Canadians—Michael Spavor and Michael Kovrig—were detained in China, where they remain more than 1,000 days later. Both were charged with espionage, and Spavor has been sentenced to 11 years in prison.