Huawei exec faces United States fraud charges linked to Iran

Arrested Huawei CFO makes appearance in Canadian court as U.S. seeks extradition

Meng Wanzhou, the chief financial officer of Huawei Technologies, was arrested Saturday while in transit at Vancouver's airport.

A prosecutor for the Canadian government urged the court not to grant bail, saying the charges against Meng Wanzhou, the chief financial officer for Chinese telecom giant Huawei, involve USA allegations that Huawei used a shell company to access the Iran market in dealings that contravene United States sanctions.

He also outlined the Byzantine structure and what he called a constantly changing nature of US sanctions against Iran.

She allegedly assured USA banks that Huawei and Skycom were different companies but prosecutors say they were one and the same. He said her actions exposed the banks to potential fines for violating US sanctions. SkyCom is believed to be an unofficial subsidiary of Huawei, though the companies do not claim to be connected.

A lawyer for Meng denied the allegations, called the charges against her "preposterous", and urged the court to release her on bail. She faces multiple charges, each carrying a penalty of up to 30 years in prison upon conviction.

Huawei sold Skycom before the sanctions became law in the United States under president Barack Obama in 2010, he said.

The company has said it is not aware of any wrongdoing by Meng. This is also believed to have helped Huawei "circumvent USA sanctions by telling financial institutions that a Huawei subsidiary was a separate company".

"In the negotiations, of course, they'll push that across the table and make it as embarrassing for the Canadians as possible", he said.

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.

Bush Takes Funeral Train Ride to Final Resting Place
Post office officials said they will provide limited package delivery services to ensure overall operations run smoothly. And the Trumps visited members of the Bush family at the Blair House presidential guesthouse, where they are staying.

Climate change a man-made disaster on global scale, warns Attenborough
The meeting received a boost over the weekend when 19 major economies at the G-20 summit affirmed their commitment to the 2015 Paris climate accord.

Burnley's Steven Defour 'touch and go' for visit of Liverpool
Although the reds were not significantly troubled, the reds took time to adjust to the pace of the game . Even Burnley's teamsheet revealed five changes of their own.

But now, after Meng appeared in a BC courtroom on Friday for a bail hearing and the publication ban was lifted, reasons for Meng's arrest are being brought to light.

Federal regulators are also in the process of implementing rules that would bar Huawei for rolling out fifth-generation, or 5G, networks in the United States.

China said Meng has broken no USA or Canadian law.

Australia and New Zealand have already said they will not use Huawei for 5G networks.

"The Chinese obviously are not happy that this woman was grabbed at the airport in Vancouver, but they also recognize that there [were] judicial proceedings in the US, that there was an worldwide mandate to grab her that had been issued", Ken Courtis chairman, Starfort Holdings told BNN Bloomberg in an interview on Friday.

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.

"China talks are going very well!"

The Trump administration has tightened regulations on high-tech exports to China and made it harder for Chinese firms to invest in US companies or to buy American technology in cutting-edge areas like robotics, artificial intelligence and virtual reality.

Ms Meng, who also used the English names Cathy and Sabrina, served on the board of Skycom between February 2008 and April 2009, according to Skycom records.

Related news:

Hot News

isis-killer-beheading-video-story-top Save millions of lives by tackling climate change, says WHO
Dec 07, 2018 - 00:55
Framework Convention on Climate Change-suggested that decarbonizing the global economy by 2050 may still be within reach. Rising oil use for transportation also was a factor, as American consumers are once again buying bigger cars.

isis-killer-beheading-video-story-top Oil prices ease in cautious trading ahead of OPEC meeting
Dec 07, 2018 - 00:28
In the Middle East, Saudi Arabia produced a record 11.3 million barrels per day (bpd) in November, adding to the swelling glut. President Donald Trump on Wednesday urged OPEC to continue pumping at current levels in order to drive fuel prices even lower.

isis-killer-beheading-video-story-top Huawei executive arrested in Canada for 'violating USA sanctions on Iran'
Dec 07, 2018 - 00:28
American officials have sought to persuade other nations to curb business ventures with Huawei because of security concerns. Stephen Innes, head of Asia-Pacific trading at investment firm Oanda, linked the losses directly to Meng's arrest.

isis-killer-beheading-video-story-top Three share lead as Woods falters in Hero World Challenge
Dec 06, 2018 - 01:04
So I guess I should be a little bit fresher than some of my colleagues who call me from Hong Kong or somewhere else at this point. Defending champion Rickie Fowler posted a second consecutive five-under 67 to move 10 under for the tournament.

isis-killer-beheading-video-story-top Michelle Obama Has Some Sage Advice For Meghan Markle
Dec 06, 2018 - 01:02
The couple should be living at Frogmore Cottage in Windsor ahead of Meghan giving birth and could choose a hospital near there. Cape Town - Amid royal family feud rumours, sisters-in-law Meghan and Kate will unite for the festive season.

isis-killer-beheading-video-story-top Salman Khan is the richest Indian celebrity
Dec 06, 2018 - 00:56
A total of 15 celebrities from the south Indian film industry made it to the list, with Kollywood contributing eight actors. The 2018 Forbes India Celebrity 100 List rankings are based on estimates of entertainment-related earnings of celebrities.

isis-killer-beheading-video-story-top Ohio State's Urban Meyer to retire
Dec 06, 2018 - 00:48
However, I have to think this is his last stop, because it's the second time he's stepped down due to medical issues. There will be no coaching search, no wild speculation about why this happened now and what it means.

isis-killer-beheading-video-story-top Chelsea to face Nottingham Forest at home in FA Cup third round
Dec 06, 2018 - 00:47
Wrexham first have to see off Newport County away at Rodney Parade which is pencilled in for Tuesday 11th December, but could change if selected for TV coverage.

isis-killer-beheading-video-story-top Qualcomm Ushers in Decade of 5G at Summit on Maui
Dec 06, 2018 - 00:41
Additionally, with the Snapdragon 855 , Qualcomm is aiming to deliver a great photography and gaming experience to the users. Android smartphones look set for a major boost in 2019 with Qualcomm revealing its all-new Snapdragon 855 processor.

isis-killer-beheading-video-story-top USA agrees to suspend new China tariffs for 90 days
Dec 06, 2018 - 00:31
Both sides will "immediately begin negotiations on structural changes" that Washington has been demanding for more than a decade. Several bike industry leaders have said closing that loophole would help the industry and create more fair trade than tariffs.

isis-killer-beheading-video-story-top Twitter had the best 'alternative' names for Seattle's new National Hockey League team
Dec 05, 2018 - 01:07
KeyArena will be gutted, essentially resulting in a brand new stadium at Seattle Center, in the shadows of the Space Needle. The NHL's 32nd team was unanimously approved in a vote and will begin play in 2021-22 in a renovated Key Arena.

isis-killer-beheading-video-story-top Trump's China auto tariffs claim sows confusion
Dec 05, 2018 - 01:07
The president also explained his philosophy of why he supported tariffs with foreign countries. ‎U.S. This was also the first time that the president suggested the negotiating window could be extended.

isis-killer-beheading-video-story-top New Captain Marvel Trailer Unleashes Carol Danvers’ Full Power
Dec 05, 2018 - 00:43
She said, "I'm not going to fight your war, I'm going to end it". "Noble warrior heroes", Carol answers, before cracking a smile. Returning to Earth could put the planet in jeopardy as the Kree are not exactly the friendliest humanoid species in the cosmos.

isis-killer-beheading-video-story-top National Football League issues statement on investigation of former Chiefs RB Kareem Hunt
Dec 05, 2018 - 00:42
League officials told ESPN the NFL reached out to the woman and her friend on multiple occasions, but they did not respond. In the grainy, graphic video, Hunt is seen getting into an argument with a woman and several men step in to hold him back.

isis-killer-beheading-video-story-top Government must publish Brexit legal advice
Dec 05, 2018 - 00:42
The amendment isn't legally binding - but it carries huge political weight and would be very hard for the government to ignore. May and her government objected to this ruling, saying that it was pointless because they planned to go through with Brexit.