Huawei CFO wanted by the U.S. for conspiring to defraud banks

Huawei CFO wanted by the U.S. for conspiring to defraud banks

Huawei CFO wanted by the U.S. for conspiring to defraud banks

Meng was arrested Saturday while in transit at Vancouver's airport.

David Ryder / Reuters A member of B.C. Sheriff Service (BCSS) and a security guard keep watch outside the B.C. Supreme Court bail hearing of Huawei CFO Meng Wanzhou, who is held on an extradition warrant in Vancouver.

Kudlow said the investigation of whether Huawei violated USA sanctions against Iran was on a "separate track" from the trade talks and was a matter of national security and US law.

A major pillar of the USA case is a misrepresentation that Meng allegedly made to a US bank in 2013, referred to as "Financial Institution 1".

U.S. investigators believe the misrepresentations induced the banks to provide services to Huawei despite the fact they were operating in sanctioned countries, Canadian court documents released yesterday showed.

U.S. intelligence agencies have also alleged that Huawei is linked to China's government and its equipment could contain "backdoors" for use by government spies.

Huawei is the biggest global supplier of network gear used by phone and internet companies, and has been the target of deepening USA security concerns.

Huawei said on Wednesday that "the company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms Meng".

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Deng Yuwen, a political analyst in Beijing, said conservative forces in the Chinese government and society could use Meng's arrest to resist concessions as trade talks unfold in the next few months.

Meng was said to have been a director of Skycom at one point, Reuters reported in 2013. In addition, she is not only a Huawei top official, but also the daughter of the company's founder.

"Detaining a person without providing an explanation has undoubtedly violated her human rights", Geng stressed, specifying that Beijing had sent clear signal to both the United States and Canada over the case.

She is specifically accused of lying to U.S. banks about the use of a covert subsidiary to sell to Iran in breach of sanctions.

Huawei has reassured its suppliers that their partnerships remain intact and has condemned "unreasonable" acts by the U.S. government, in response to the arrest of one the Chinese telecoms group's top executives. Prosecutors claim that she is a flight risk due to her family's huge wealth, while the defense points out that Meng has resided with her husband and children in Vancouver for years, and had obtained permanent residence status.

Reporters in attendance tweeted details from the hearing, and noted the shocked reaction from the gathered crowd upon learning the possible severity of Meng's punishment were she to face trial and be found guilty.

China, meanwhile, has officially demanded Meng's release. The company has said it complies with all applicable export control and sanctions laws and other regulations. "The United States is encouraging western allies to essentially push Huawei out of the emerging 5G network, and my personal view is that is something that western countries should be doing in terms of our own long-term security issues". Martin told the court the PowerPoint presentation his client delivered to the bank is supposed to be evidence of fraud, but that claim is "preposterous". USA prosecutors argue that Meng fraudulently said there was no link, the court heard yesterday.

US President Donald Trump did not know about the arrest in advance, two US officials said. ZTE paid a US$892 million (RM3.71 billion) penalty.

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