Arrested Huawei CFO potentially faces decades in jail
08 December, 2018, 00:39 | Author: Wade Massey
A prosecutor for the Canadian government urged the court not to grant bail, saying the charges against Meng Wanzhou, the chief financial officer (CFO) for Chinese telecom giant Huawei, involve U.S. allegations that Huawei used a sham shell company to access the Iran market in dealings that contravene United States sanctions.
Gibb-Carsley said the banks were "victim institutions" of fraud by Meng. The prosecutor says she assured banks that Huawei and Skycom were separate companies but he says the US contends that Skycom is Huawei.
Far from being a separate company, SkyCom was used as a front for Huawei to do business with Iran, prosecutors alleged at a bail hearing for the accused executive.
Huawei CFO Meng Wanzhou, 46, who is also the daughter of the company founder, was arrested on December 1 at the request of the United States.
Her appearance at the British Columbia Supreme Court in Vancouver is a prelude to an extradition process that could take months.
Meng's detention in Canada came on the day of a summit at which US President Donald Trump and his Chinese counterpart Xi Jinping agreed to a truce in the escalating trade dispute opposing the two economic powerhouses.
Chinese Foreign ministry spokesman Geng Shuang said on Friday that neither Canada nor the USA had provided China any evidence that Meng had broken any law in those two countries, and reiterated Beijing's demand that she be released. "The United States is encouraging western allies to essentially push Huawei out of the emerging 5G network, and my personal view is that is something that western countries should be doing in terms of our own long-term security issues".
In making their case for denying her bail, crown lawyers said Meng has no meaningful connections to Vancouver, and that her massive resources make the amount of her bail pledge irrelevant.
"The Chinese government should seriously mull over the United States tendency to abuse legal procedures to suppress China's high-tech enterprises", said the nationalist tabloid Global Times in an editorial.
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