Published: Tue, December 11, 2018
Global News | By Blake Casey

Canadian court weighs bail for jailed CFO of China's Huawei

Canadian court weighs bail for jailed CFO of China's Huawei

The hearing was scheduled to resume on Tuesday.

On Friday, the first day of Meng's bail hearing, the Crown revealed she is wanted due to an investigation into fraud and violations against USA sanctions against Iran. The U.S. has 60 days to make a formal extradition request.

In urging the court to reject Meng Wanzhou's bail request, a prosecutor said Friday the Huawei executive had vast resources and a strong incentive to bolt: She's facing fraud charges in the United States that could put her in prison for 30 years.

Steve Tan with Recovery Science told court the company has done electronic monitoring in more than 500 of bail cases and is now monitoring 115 people on bail with Global Positioning System ankle bracelets. He also suggested his client could be supervised by both companies in what he said would be an unprecedented arrangement, telling the court Meng would pay for it. "She is deeply respectful of the rule of law. has a completely unblemished record", Martin said.

Meng's case has struck a nerve with Chinese officials in part because Huawei, founded by her father Ren Zhengfei, is a national champion at the forefront of President Xi Jinping's efforts for China to be self-sufficient in strategic technologies. The company has projected 2018 sales of more than US$102 billion and has overtaken Apple in smartphone sales.

Gibb-Carley said Meng's permanent resident card expired nine years ago, her British Columbia identification card expired 12 years ago and none of her references lives in Canada.

In a separate affidavit, Meng's husband Liu Xiaozong notes that the couple share a daughter, while Meng has three older sons from previous marriages.

In 2016, they bought a second property, a brick-and-glass mansion set in a 21,000 sq ft lot assessed at C$16.3 million. Filer has offered a $1,000 surety.

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Meng said she has ties to Vancouver going back 15 years.

Stephen Tan, a founding partner of Recovery Science Corp., said the company monitors people through an ankle bracelet that sends an alert when someone goes outside an "exclusion zone". Her arrest has roiled global markets as investors worry it could halt attempts to ease trade tensions between the USA and China.

Meng Wanzhou was recently detained while changing flights in Vancouver.

"We will continue to follow the bail hearing tomorrow".

Meng has said that she should be released on bail due to severe hypertension and fears for her health while incarcerated in Canada, court documents released on Sunday showed. The U.S. has accused Huawei of using a Hong Kong shell company to sell equipment in Iran in violation of U.S. sanctions.

None of the allegations against Ms. Meng have been proven in court.

The accusing the company of using subsidiary Skycom to do business with Iran, which would bypass sanctions. In a December 7 filing to the FCC, the company said the agency can't rely on an American defense measure, which became law in August, to act against Huawei, since the law restricts the provision of loans and grants rather than the subsidies the FCC is weighing.

The prosecutor added that Meng, who has a son studying in Boston, frequently traveled to the U.S. but stopped since March 2017, presumably after the U.S. Justice Department began probing Huawei. Huawei and its lawyers have said the company operates in strict compliance with applicable laws, regulations and sanctions of the USA and other parties.

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