Huawei CFO facing U.S. fraud charges, seen as flight risk

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

Huawei exec faces US fraud charges linked to Iran, court hears

The company would not say why she faces extradition, but at Meng's bail hearing Friday, the Crown revealed she is wanted due to an investigation into fraud and violations against US sanctions against Iran.

He said there is incentive for Meng to leave Canada, telling the court her father's net worth is $3.2 billion and she has no meaningful connection to Canada, apart from spending two to three weeks on vacation in Vancouver every summer.

Ms Meng allegedly misled bankers by assuring them that Skycom and Huawei were separate companies, after links between them were reported by Reuters in 2013.

ZTE, China's second-largest telecommunications equipment maker behind Huawei, was facing crippling penalties last Spring for violating Iran sanctions.

Meng's bio on the company website says she joined in 1993 and held various positions across the company, including director of worldwide accounting and CFO of Huawei Hong Kong.

A top Chinese telecommunications executive facing possible extradition to the United States appeared in court Friday as she sought bail in a case that has rattled markets and raised doubts about the USA being able to reach a truce in its trade war with China.

China demanded Meng's release after her arrest was made public and has insisted that Meng has not violated any laws. Canadian President Justin Trudeau denied any political motivation and said that his government had no involvement with the police action or the judicial proceedings.

Trump tweeted Friday that negotiations to defuse the high stakes dispute were "going very well" but the messages since Meng's arrest have been mixed, roiling global stock markets.

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

On TV and social media, commentators likened her arrest to the hypothetical detention in China of a Mark Zuckerberg sibling or a cousin of Steve Jobs. The court heard she was en route from Hong Kong to Mexico.

Meng's arrest comes as the United States continues efforts to convince allies not to use Huawei equipment, especially for 5G networks, which are expected to be rolled out starting next year.

If convicted, the 46-year-old daughter of Huawei founder Ren Zhengfei faces more than 30 years in prison, said the Canadian prosecutor. The lawyer also proposed that Meng could be electronically monitored to ensure she does not take flight.

Huawei's affordable smartphones have made strong inroads in the developing world, but the company has faced repeated setbacks in major Western economies over security concerns.

"If you have infinite resources, the value of pledges diminishes", the lawyer representing Canada's attorney general said.

For a period of time she was in charge of Huawei's successful internationalization efforts.

Meng, who also has used the English names Cathy and Sabrina, served on the board of Skycom between February 2008 and April 2009, according to Skycom records, and several other past and present Skycom directors appear to have connections to Huawei.

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