Canadian court grants bail to Huawei CFO Meng Wanzhou

Huawei CFO is probably a Trump trade hostage

Reports of Michael Kovrig's disappearance came just hours before Meng Wanzhou, chief financial officer for Huawei Technologies, was due to appear in court for a bail hearing on usa charges related to alleged Iran sanctions violations.

This TV image provided by CTV to AFP shows Huawei Technologies Chief Financial Officer Meng Wanzhou as she exits the court registry following the bail hearing at British Columbia Superior Courts in Vancouver, British Columbia, Dec. 11, 2018. In a sworn affidavit, she said she is innocent and will contest the allegations against her at trial if she is surrendered to the United States.

Meng Wanzhou, 46, was arrested in Vancouver more than a week ago at the request of the Justice Department, which is seeking her extradition for alleged involvement in breaking US sanctions against Iran.

Meng's lawyer said she will deny the charge.

Meng was released Tuesday on bail of $7.5 million ($10 million Canadian dollars), but is required to wear an electronic tracking bracelet and will be monitored around the clock by a private surveillance firm, the National Post reported.

Such an advisory from the State Department would warn USA nationals of the risk that China could retaliate against them for the detention of Ms Meng. The two sides have agreed to trade negotiations that must be concluded by March 1.

This comes against the background of an increasingly acrimonious trade dispute between Washington and Beijing. The public prosecutor said he wanted half in cash and half in property.

Meng was arrested in Vancouver during a flight transfer while traveling from Hong Kong to Mexico. Martin said, arguing the evidence against her was not overwhelming.

The judge ordered her to reappear in court on 6 February.

On Tuesday, her team suggested four other Vancouver residents willing to vouch for her, including her Vancouver realtor, an insurance agent who once worked with her at Huawei, a woman whose husband once worked at Huawei and a neighbor.

She has been described as a "Red Princess" due to the alleged strong connection between her grandfather and the officials of the Communist party, according to the Daily Mail.

Despite being called a national security threat by the USA government, the company is the leading provider of networking equipment and is the second largest smartphone manufacturer in the world after Samsung.

Meng, who is the daughter of Huawei's founder, is accused of lying to bankers about the use of a covert subsidiary to sell to Iran in breach of sanctions. This put the banks at risk of violating US sanctions and incurring the associated penalties. Huawei and its lawyers have said the company operates in strict compliance with applicable laws.

The bail hearing stretched into three days, an unusually lengthy process.

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