An apex court has on Friday, announced that Meng Wanzhou, chief financial officer (CFO) and a top Chinese telecom executive of Huawei, will remain in custody and spending this weekend in a Vancouver jail till the next hearing on Monday.
Meng, daughter of Huawei founder Ren Zhengfei, was arrested in Canada on behalf of the United States, while travelling to Mexico from Hong Kong via Canada on Saturday, and was facing extradition to the US for violating US sanction on Iran.
A Huawei spokesperson said, “Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU.”
On Friday, a prosecutors for the Canadian government urged the court to not to grant bail to Meng as its charges involves the US allegations that Huawei has used a fake shell company in order to access with Iran market in dealing and could be a “flight risk”, which involves violation of sanctions granted by Washington.
After an hour-long hearing on Friday, the court adjourned it until Monday and made Meng to be in custody for the weekend till next hearing on Monday.
Prosecutors alleged that Meng’s Huawie was dealing with SkyCom Technology Company regarding dealing with Iran market. In a court document she was alleged that between the years 2009-2014, Huawei has used an unofficial subsidiary, named “SkyCom”, to negotiate with Iran, which has violated US and EU sanctions.
Meng denied any connection between Huawei and SkyCom, but the fact says, presented by the prosecutor, that both the companies are the same company and has “deceived” US bank into while doing business.
The charges made against Mend in the country US are “on serious charges of fraud involving millions of dollars. If convicted, she would likely face a sentence of substantial jail time”.