Wednesday, 16 January 2019

Huawei CFO granted $7.5m bail by Canadian court

By Chris Kelly, Total Telecom
Wednesday 12 December 18

Meng Wanzhou was detained by Canadian authorities at the request of the United States, early last week

Huawei's chief financial officer, Meng Wanzhou, has been released on bail by a Canadian court, following her arrest in Vancouver, earlier last week.  Huawei confirmed the release late last night, saying that it had "…

Huawei's chief financial officer, Meng Wanzhou, has been released on bail by a Canadian court, following her arrest in Vancouver, earlier last week. 

Huawei confirmed the release late last night, saying that it had "every confidence" that Canadian and US authorities would reach a just conclusion. 

"The Canadian authorities have agreed to release our CFO, Ms Meng Wanzhou, on bail following her detainment on behalf of the United States of America. We have every confidence that the Canadian and US legal systems will reach a just conclusion in the following proceedings," the company said. 

Ms Meng was released on $7.5 million by Justice William Ehrcke. Under the terms of her bail, Ms Meng must adhere to a strict curfew and agree to wear an ankle bracelet that will monitor her location.  

The US claims that Huawei's CFO mislead multinational banks over transactions linked to Iran, during the period of international sanctions. Ms Meng strenuously denies the allegations against her and Huawei reiterated this in a statement released to the press. 

"As we have stressed all along, Huawei complies with all applicable laws and regulations in the countries and regions where we operate, including export control and sanctions laws of the UN, US, and EU. We look forward to a timely resolution to this matter," the company said. 

The decision to grant Ms Meng bail prompted jubilant scenes in the Vancouver court house, with loud applause breaking out as the Huawei CFO hugged her lawyers.

 

Also in the news: 

Huawei: 5G is ready to go

Huawei has Samsung in its sights as it aims to become world's biggest smartphone producer by 2020

China bans iPhones, as Apple's spat with Qualcomm flares 

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