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Canadian Prosecutors Accuse Huawei CFO Meng of Fraud Related to Iran Sanctions

08 December 2018

She was arrested in Vancouver on December 1, and is sought for extradition by the United States.

"Meng being released on $1 million bail would be like asking upper middle class Canadian family to cough up $136", she paraphrased the Crown as explaining, before noting that Meng's "father has a net worth of $3.2bn". The Crown lawyer told the hearing that the USA alleges Huawei Technologies used subsidiary Skycom to do business with Iran, violating sanctions against that country.

The news of Meng's arrest has roiled global stock markets on fears it could escalate a trade war between the United States and China after a truce was agreed last week between President Trump and China's leader Xi Jinping.

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"The Chinese government should seriously mull over the U.S. tendency to abuse legal procedures to suppress China's high-tech enterprises", said the nationalist tabloid Global Times in an editorial. "And he has assured China that due process is absolutely being followed in Canada and consular access for China to Ms. Meng will be provided, and that we are a rule-of-law country, and we will be following our laws as we have thus far in this matter, and as we will continue to do".

"The Chinese are well aware of John's seniority", she said. A Canadian official authorized her arrest in November.

A Canadian court must decide if there is sufficient evidence to support the extradition, but then it is left to Canada's justice minister to sign the order.

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Huawei CEO and founder Ren Zhengfei is a former member of China's People's Liberation Army (PLA), where he worked as an engineer helping to build its communications network.

Among other things, it is working with Telus and Bell Canada to develop equipment for fifth-generation wireless networks that are expected to transform telecommunications around the world over the next decade or more. That was about six years after the company was founded to sell phone switches. Last month, New Zealand refused a telecom company's request to use 5G technology from Huawei, citing national security concerns.

"Huawei is SkyCom. This is the alleged fraud", Canadian prosecutor John Gibb-Carsley said.

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CNN, quoting an unnamed official, said the United States saw the arrest as providing leverage in US-China trade talks - although White House trade advisor Peter Navarro has denied any link to the dialogue.

Canadian Prosecutors Accuse Huawei CFO Meng of Fraud Related to Iran Sanctions