Huawei exec faces U.S. fraud charges linked to Iran

Handout of Meng Wanzhou Huawei Technologies Co Ltd's chief financial officer

Chinese Tech Exec Faces 30 Years in Prison in U.S., Canadian Prosecutor Says

Vancouver: Chinese telecom giant Huawei´s chief financial officer faces United States fraud charges related to sanctions-breaking business dealings with Iran, a Canadian court heard Friday, a week after she was detained on an American extradition request.

Her detention comes less than two months after a Chinese intelligence officer was arrested in Belgium and extradited to the USA to face espionage charges, in the first case of a Chinese intelligence official being taken to the United States to face prosecution in an open court.

Meng had personally denied to bankers any direct connections between Huawei and the subsidiary, SkyCom, when in fact "SkyCom is Huawei", Gibb-Carsley said, putting the bank in jeopardy of violating sanctions.

Her appearance at the British Columbia Supreme Court in Vancouver is a prelude to an extradition process that could take months.

China has been angry about the incident and has demanded Meng's release.

Ltd., is accused of fraud offenses and faces an extradition request from the USA, a bail hearing was told.

He said that the daughter of Huawei founder Ren Zhengfei had substantial financial resources and was a flight risk.

It's unclear why it took the USA five years to take any serious action against Meng, - an issue raised by her defense, - but her arrest comes less than a week after the United States and China announced a 90-day truce in the ongoing trade war - and threatens to send it crumbling. A judge on Friday lifted a publication ban Meng had secured that curbed the media's ability to report on the evidence or documents presented in court.

Huawei, he explained, is one company the U.S. has been particularly concerned about.

Meng Wanzhou, Executive Board Director of the Chinese technology giant Huawei, attends a session of the VTB Capital Investment Forum "Russia Calling!" in Moscow, Russia, on October 2, 2014.

"In the negotiations, of course, they'll push that across the table and make it as embarrassing for the Canadians as possible", he said.

Since then, Huawei has grown into the world's biggest supplier of network gear for phone and internet companies.

On Thursday, former prime minister Stephen Harper told Fox Business News that while he was in power he became increasingly concerned about allowing the use of equipment from Huawei and ZTE, another Chinese telecom-equipment manufacturer.

Meng's bio on the company website says she joined in 1993 and held various positions across the company, including director of global accounting and CFO of Huawei Hong Kong. The company was offering to sell HP equipment to Iran in late 2010. Prosecutors claim that she is a flight risk due to her family's huge wealth, while the defense points out that Meng has resided with her husband and children in Vancouver for years, and had obtained permanent residence status.

But in a sign the case might not derail the Trump-Xi truce, Beijing protested Meng's arrest but said talks with the Trump administration would go ahead.

According to a CNN report, the U.S. is claiming that Meng "covered up" violations of sanctions on Iran.

Martin said two properties in Vancouver worth a total of $14 million could be put up for bail, and electronic monitoring and surveillance-based security could be used, although he said neither would be necessary. She's likely his heir apparent. Meng is also known by the names Sabrina Meng and Cathy Meng.

Latest News