Canada releases Huawei’s Meng Wanzhou on bail

Posted by Grand News | 13 December 2018 | 1,553 times


Wanzhou.

A Canadian court on Tuesday released Meng Wanzhou, a top executive of Chinese telecoms giant Huawei Technologies Co Ltd, on bail, but she will remain in Vancuover, till the adjourned date of 6 February, 2019.

The bail came 10 days after her arrest in Vancouver at the request of U.S. authorities, sparking a diplomatic dispute.

Meng , Huawei’s  chief financial officer and the daughter of its founder, faces U.S. claims that she misled multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions.

In a court hearing in Vancouver, British Columbia, Justice William Ehrcke granted C$10 million ($7.5 million) bail to Meng, who has been jailed since her arrest on Dec. 1. The courtroom erupted in applause when the decision was announced. Meng cried and hugged her lawyers.

Among conditions of her bail, the 46-year-old executive must wear an ankle monitor and stay at home from 11 p.m. to 6 a.m. Five friends pledged equity in their homes and other money as a guarantee she will not flee.

U.S. President Donald Trump told Reuters on Tuesday he would intervene in the U.S. Justice Department’s case against Meng if it would serve national security interests or help close a trade deal with China.

A Chinese foreign ministry spokesman Lu Kang said Meng’s arrest “was a mistake from the start”.

“We have already made clear our position to the United States and Canada, who should immediately correct their mistake and release Meng Wanzhou,” he told a daily news briefing.

“Any person, especially if it is a leader of the United States, or a high-level figure, who is willing to make positive efforts to push this situation toward the correct direction, then that, of course, deserves to be well received.”

China had threatened severe consequences unless Canada released Meng immediately, and analysts have said retaliation from Beijing over the arrest was likely.

Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones, with revenue of about $92 billion last year. Unlike other big Chinese technology firms, it does much of its business overseas

NAN


Source: Grand News

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