Reason behind Huawei CFO Wanzhou Meng's arrest in Vancouver revealed
08 December, 2018, 01:51 | Author: Myra Gill
According to AP, the prosecutor said she portrayed the two companies as separate, while the US claims Huawei and SkyCom are connected, and thus Huawei violated USA sanctions against Iran.
The Crown says Meng is alleged to have said Huawei and Skycom were separate and she allegedly lied to an executive of an unnamed financial institution, which it asserts put the institution at risk.
The prosecutor says she assured banks that Huawei and Skycom were separate companies but he says the USA contends that Skycom is Huawei.
She is specifically accused of lying to U.S. banks about the use of a covert subsidiary to sell to Iran in breach of sanctions.
SkyCom employees used Huawei email addresses and its management were Huawei employees, according to the prosecutor.
A lawyer for Meng denied the allegations, called the charges against her "preposterous", and urged the court to release her on bail.
On Thursday, former prime minister Stephen Harper told Fox Business News that while he was in power he became increasingly concerned about allowing the use of equipment from Huawei and ZTE, another Chinese telecom-equipment manufacturer.
A Canadian government lawyer asked the court to deny her bail, saying she has been accused of "conspiracy to defraud multiple financial institutions" and if convicted faces more than 30 years in prison. Huawei has denied violating sanctions.
This is also believed to have helped Huawei "circumvent U.S. sanctions by telling financial institutions that a Huawei subsidiary was a separate company".
Meng is the daughter of Huawei's founder, Ren Zhengfei.
Meng's surprise arrest on Saturday is the latest salvo in a feud over trade and technology that has pitted the U.S. against China, with Canada caught in the middle.
"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". "John has been very clear with the Chinese authorities - as we are with Canadians - that this was a matter handled as a part of our rule-of-law process; it was done without any engagement on involvement in the political level because we respect the independence of our judiciary". 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.
US and Asian stock markets tumbled after news of Meng's arrest as it was seen to cause another flare-up in tensions between Washington and Beijing.
Huawei's affordable smartphones have made strong inroads in the developing world, but the company has faced repeated setbacks in major Western economies over security concerns.
For a period of time she was in charge of Huawei's successful internationalization efforts.
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