Chinese CFO Charged With Fraud Out On $10,000,000 Bail
A Vancouver judge released Huawei’s chief financial officer Tuesday on a $10 million bail bond, CBC News reports.
Meng Wanzhou could soon be extradited to the U.S. on fraud charges. Canadian police arrested Wanzhou last week at the request of American authorities. According to The Globe and Mail, the U.S. suspects Meng of contravening its embargo of Iran.
Judge William Ehrcke was convinced that the amount of bail demanded, the five guarantors required to post it and the bail conditions will be a sufficient deterrence to Meng fleeing the country. She will have to deliver $7 million in cash, wear a security bracelet at all times, live in a West Vancouver home and keep to a strict curfew. (RELATED: US Seeks To Extradite Huawei’s CFO After She’s Arrested In Canada)
In explaining his bail decision, Ehrcke said he determined “the risk of her non-attendance in court can be reduced to an acceptable level” by the conditions she will be forced to comply with.
The woman left the court house surrounded by security. She had no response to the journalists who were waiting for her, some of whom asked why she shouldn’t be considered a flight risk. She also surrendered her passport and won’t be permitted to leave British Columbia — unless she is extradited to the U.S. (RELATED: FCC May Punish US Carriers That Deal With China’s Huge Huawei, Says Report)
Huawei is a massive Chinese corporation with close ties to the Communist government. Earlier this year, Australia banned the company from developing the latest wireless technology — dubbed 5G. Huawei has denied that it acts as an arm of the Chinese government.