Huawei CFO faces US fraud charges linked to Iran

Muscat Daily - - BUSINESS -

Van­cou­ver, Canada - Chi­nese tele­com gi­ant Huawei’s chief fi­nan­cial of­fi­cer faces US fraud charges re­lated to sanc­tions­break­ing busi­ness deal­ings with Iran, a Cana­dian court heard on Fri­day, a week af­ter she was de­tained on an Amer­i­can ex­tra­di­tion re­quest.

Meng Wanzhou (46) was ar­rested in Canada’s Pa­cific coast city of Van­cou­ver on De­cem­ber 1 while chang­ing planes dur­ing a trip from Hong Kong to Mex­ico - ratch­et­ing up ten­sions be­tween the United States and China just as the coun­tries’ lead­ers agreed to a truce in their trade war.

A day-long hear­ing was ad- journed until Mon­day, when the judge is ex­pected to ren­der a de­ci­sion on bail. Until then, she will re­main in cus­tody.

Cana­dian gov­ern­ment lawyer John Gibb-Cars­ley asked for bail to be de­nied, say­ing Meng has been ac­cused of ‘con­spir­acy to de­fraud mul­ti­ple fi­nan­cial in­sti­tu­tions’ and if con­victed faces more than 30 years in prison.

She is specif­i­cally ac­cused of ly­ing to a US bank, iden­ti­fied by her lawyer as ‘Hong Kong Bank’, about the use of a covert sub­sidiary to sell to Iran in breach of sanc­tions.

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.

Meng Wanzhou

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