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Huawei CFO Wanted by USA for Fraud, Bail Hearing Told

Huawei CFO Wanted by USA for Fraud, Bail Hearing Told

"The allegations contained in this document do not support a prima facie case of fraud against Ms. Meng" or Huawei, he added.

Chinese telecom giant Huawei's chief financial officer, arrested in Canada, faces United States fraud charges for allegedly lying to banks about the use of a covert subsidiary to sell to Iran in breach of sanctions, a court in the Canadian city of Vancouver has heard. SkyCom´s alleged sanctions breaches occurred from 2009 to 2014, while Meng´s alleged fraudulent misrepresentations were in 2013.

The lawyer said that Meng had personally denied to American bankers any direct connections between Huawei and the subsidiary, SkyCom, when in fact "SkyCom is Huawei".

The arrest, revealed by Canadian authorities late on Wednesday, was part of a United States investigation into an alleged scheme to use the global banking system to evade American sanctions against Iran, sources say.

A Huawei spokesman declined to comment on Thursday before Meng's court appearance and said that Wednesday's statement still stands.

"Huawei has never been asked by any government to build any backdoors or interrupt any networks, and we would never tolerate such behaviour by any of our staff", it said.

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

Meng's father, the billionaire Ren Zhengfei, founded Huawei Technologies Ltd.in 1987 and established it in the southern China city of Shenzhen, across the border from Hong Kong. Canadian President Justin Trudeau has said the country's courts acted independently and there was no political involvement in the case.

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Still, attorney DeBusk said, "I would certainly expect the Chinese to do something in retaliation" for Meng's arrest, perhaps by targeting United States companies doing business in China. Fleeing would cause Meng to lose "face", Meng's lawyer said.

"Obviously, Washington is resorting to a despicable rogue's approach as it can not stop Huawei's 5G advance in the market", it went on. The lawyer also proposed that Meng could be electronically monitored to ensure she does not take flight.

"China has more incentive than the U.S.to stop the escalation", said Yanmei Xie, an analyst at the Gavekal Dragonomics consultancy in Beijing.

Martin said two properties in Vancouver worth a total of $14 million could be put up for bail, and electronic monitoring and surveillance-based security could be used, although he said neither would be necessary.

The U.S. sees Huawei and smaller Chinese tech suppliers as possible fronts for Chinese spying and as commercial competitors.

The White House did not specify why she was detained but mentioned longstanding U.S. concerns over Chinese firms using stolen intellectual property and how Beijing acquires information technology.

Meng, who also goes by the first name Sabrina, is one of four deputy chairs listed on the Huawei website and one of three women to sit on the Huawei board.

The European Union and its citizens should be "worried" about telecoms giant Huawei and other Chinese firms that cooperate with Beijing's intelligence services, a senior EU official warned yesterday.


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