Huawei’s CFO Meng Wanzhou is out on bail in Canada

Huawei CFO Bail

The CFO of the Chinese tech company, Huawei, Meng Wanzhou was arrested in Canada on 1st December on the serious charges of fraud. The US government filed a case against Meng alleging that she dodged sanctions on Iran. However, she has been granted a bail of $10 million, on Tuesday, which sets her up for a legal fight over extradition to the United States. But she has to stay in house arrest with a GPS bracelet around her ankles and an around-the-clock security detail.

Meng is due back in court on 6th February. The court granted her bail on the basis of her health concerns, a case of severe hypertension for which she was hospitalized after her arrest. Meng’s attorney, David Martin, assured that Meng does not pose a flight risk since her ties to Vancouver go back 15 years and for her to leave Canada would be an embarrassing and humiliating event for herself, her father and for the company, Huawei. The judge agreed to Meng’s legal team’s pledge of owing more than $3 million in home equity and cash if she ever flees the country. The US Justice Department has declined to comment on the situation concerning Meng and her alleged fraud.

Supporters for Huawei CFOThe US has 60 days from the day of the provisional arrest to submit to Canada supporting documents of formal extradition requests. Canada’s Justice Department then has 30 days to weigh the documents and give a hearing on the extradition of Meng Wanzhou. If convicted of the charges, Meng Wanzhou could face considerable jail time.

Chinese officials described the event as

lawless, reasonless and ruthless.

Meng Wanzhou’s arrest took a whole new direction when US president Donald Trump said that he may intervene in the legal process if it would help him in the pursuit of his trade deal with China. Trump said in an interview, “If I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary.”

Huawei's CFO Meng Wanzhou is out on bail in Canada