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Huawei’s CFO granted bail in Canada

December 12, 2018 • Company News, Mobile and Telecoms, Top Stories

Huawei’s CFO granted bail in Canada

Meng Wanzhou, CFO, Huawei (Image Credit: Alexei Druzhinin/Getty)

A Canadian court ruled on Tuesday, December 11, 2018, that Meng Wanzhou, Huawei’s CFO and daughter of the company’s CEO and founder, will be released on bail for $10-million but will continue to be monitored closely after bank fraud allegations. A court order mandates that Wanzhou must stay in the Vancouver area under around-the-clock surveillance.

B.C. Supreme Court Justice, William Ehrcke, ordered Wanzhou to wear a GPS ankle-bracelet that will limit her movements to Vancouver and its surroundings, but keep her away from its airport.

“I am satisfied that on the particular facts of this case, including the fact that Ms. Meng is a well-educated businesswoman who has no criminal record and of whom several people have attested to her good character, the risk of her non-attendance in court can be reduced to an acceptable level,” said Justice Ehrcke in a statement.

Related: Huawei’s CFO arrested in Canada

According to Canadian The Globe and Mail, it is still unclear how long Wanzhou will be required to stay in Vancouver, but the United States still has until the start of February to file for extradition on several charges of fraud. She allegedly committed these crimes when she lied to several banks about her company’s activities in Iran, thus putting those institutions at risk of violating U.S. trade sanctions.

Wanzhou was arrested in Vancouver on Saturday, December 1st, at the request of US law enforcement on suspicion of allegedly violating U.S. trade sanctions against Iran.

By Daniëlle Kruger
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