Huawei CFO seeks bail on health concerns; Canada wants her in jail
TORONTO/BEIJING, (Reuters) - The CFO of China’s Huawei Technologies Co Ltd argued that she should be released on bail while awaiting an extradition hearing, citing her longstanding ties to Canada, properties she owns in Vancouver and fears for her health while incarcerated, court documents showed yesterday.
Huawei Chief Financial Officer Meng Wanzhou is fighting to be released on bail after she was arrested on Dec. 1 in Vancouver at the request of the United States. She is also fighting the extradition request, and China has protested her arrest to U.S. and Canadian officials.
Meng, 46, faces U.S. accusations that she misled multinational banks about Huawei’s control of a company operating in Iran. This deception put the banks at risk of violating U.S. sanctions and incurring severe penalties, according to court documents seen by Reuters. U.S. officials allege that Huawei was trying to use the banks to move money out of Iran.
China has demanded her immediate release. The arrest has roiled global markets as investors worried it could torpedo attempts to thaw trade tensions between Washington and Beijing.
U.S. stock futures fell 0.71 percent in early Asia trading, extending their negative tone from Friday.
In a sworn affidavit, Meng, the daughter of Huawei’s founder, said she is innocent and will contest the allegations at trial in the United States if she is surrendered there.
Meng said she was taken to a hospital for treatment for hypertension after being detained. She cited hypertension in a bail application seeking her release pending an extradition hearing. She also noted that she owns two homes in Vancouver worth millions of dollars each.