Canadian Prosecutors Accuse Huawei CFO Meng of Fraud Related to Iran Sanctions

Canadian Prosecutors Accuse Huawei CFO Meng of Fraud Related to Iran Sanctions”

Meng appeared in a Vancouver court today for a bail hearing that was told by the Crown that the United States alleges Huawei Technologies used subsidiary Skycom to do business with Iran, violating sanctions against that country. The Crown lawyer told the hearing that the USA alleges Huawei Technologies used subsidiary Skycom to do business with Iran, violating sanctions against that country.

Meng's arrest, which comes as the United States and China are engaged in sensitive trade negotiations, has roiled financial markets and prompted global public outrage and Chinese demands for her release.

Ms Meng allegedly misled bankers by assuring them that Skycom and Huawei were separate companies, after links between them were reported by Reuters in 2013.

She is specifically accused of lying to USA banks about the use of a covert subsidiary to sell to Iran in breach of sanctions. "Skycom employees were Huawei employees".

The company says she faces extradition to the United States on unspecified charges.

Meng's "extensive pattern of dishonesty" was cited as another reason to deny her bail, as was the fact that she stopped traveling to the United States after learning about the investigation into her case.

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

Former US congressman Dr. Ron Paul (R-Texas) tells Rick Sanchez about the consequences of Meng's arrest and problems in US foreign policy vis-à-vis Iran.

Meng, who also goes by the names Cathy and Sabrina, is not only Huawei's CFO but also its deputy chair of the board of directors and its founder's eldest daughter. She conferred with her two lawyers through a translator.

"You can rely on her personal dignity", he said, adding that to breach a court order "would be to humiliate and embarrass her father, who she loves". The United States issued her arrest warrant on August 22, and BC issued a provincial arrest warrant for her on November 30. The court heard she was en route from Hong Kong to Mexico.

Huawei CEO and founder Ren Zhengfei is a former member of China's People's Liberation Army (PLA), where he worked as an engineer helping to build its communications network. He argued that her wealth should not disqualify her from getting bail, and suggested use of tools such as electronic monitoring to ensure she stays in the country. But with respect to a number of Chinese companies, we saw what happened with ZTE some months ago and many other issues of concern like that. Fleeing would cause Meng to lose "face", Meng's lawyer said.

For a period of time she was in charge of Huawei's successful internationalization efforts.

In a statement earlier this week, Huawei said the company complies with all laws and regulations in the countries where it operates, including applicable export control, sanction laws and regulations of the United Nations, the United States and the European Union.

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