Menu
Canadian court grants bail to Huawei CFO

Canadian court grants bail to Huawei CFO

Meng Wanzhou was arrested as part of a US fraud investigation on 1 December as she was changing planes in Vancouver

Credit: REUTERS | Thomas Peter

A Canadian court on Tuesday granted bail to a top executive of Huawei Technologies while she awaits an extradition hearing, following her arrest at the request of the United States.

Meng Wanzhou, 46, Huawei's chief financial officer and daughter of its founder, was arrested as part of a US fraud investigation on 1 December as she was changing planes in Vancouver, British Columbia.

Justice William Ehrcke at a court hearing in Vancouver, British Columbia, granted bail to Meng, subject to a guarantee of C$10 million (US$7.5 million) and other conditions.

China had threatened severe consequences unless Canada released Meng immediately.

A Canadian citizen has been detained in China, Canada said on Tuesday. The Canadian government said it saw no explicit link to the Huawei case, but analysts had predicted retaliation from Beijing.

Two sources told Reuters the person detained was former Canadian diplomat Michael Kovrig, who now works for a think tank.

Guy Saint-Jacques, Canada's former ambassador to China, asked by the Canadian Broadcasting Corp whether the Kovrig detention was a coincidence, said: "In China there are no coincidences ... If they want to send you a message they will send you a message."

On 6 December, Canadian authorities arrested Wanzhou with the Canadian Justice Department saying the deputy chair of Huawei was arrested early this month and that she was sought for extradition by the United States.

The arrest heightened the sense of a major collision between the world's two largest economic powers not just over tariffs but also over technological hegemony.

It also came as an inversion in the US yield curve has stoked global investor worries of a possible US recession.

She faced accusations of covering up her company's links to a firm that tried to sell equipment to Iran despite sanctions.

(Reporting by Julie Gordon in Vancouver; writing by Nick Zieminski and Rosalba O'Brien; additional reporting by Ben Blanchard and Michael Martina in Beijing, John Ruwitch in Shanghai and David Ljunggren in Ottawa; editing by Cynthia Osterman and Bill Rigby)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags CFOHuawei

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Show Comments