Japanese government is the latest to ban Huawei network equipment

Chinese telecom giant Huawei's chief financial officer faces U.S. fraud charges related to sanctions-breaking business dealings with Iran, a Canadian court heard Friday, a week after she was detained on an American extradition request.

Meng, who is one of the vice chairpersons on Huawei's board of directors and the daughter of founder Ren Zhengfei, was arrested on December 1 at the request of USA authorities, but her arrest was not revealed until Wednesday.

Meng Wanzhou, Huawei's global chief financial officer, was arrested in Vancouver on December 1, detained on a US warrant while en route from Hong Kong to Mexico via Canada.

Huawei Technologies Co Ltd's chief financial officer, Meng Wanzhou, the 46-year-old daughter of the company's founder, was detained in Canada on Dec 1, the same day Trump and Chinese President Xi Jinping dined together at the G20 summit in Buenos Aires.

On Friday, a Canadian court heard the extradition plea, but no decision was reached after almost six hours of arguments and counter-arguments.

Banks in the US cleared money for Huawei, but unbeknownst to these financial firms, they were conducting business with Skycom in contravention of the sanctions, the lawyer said.

Gibb-Carsley told the B.C. Supreme Court hearing that Reuters reported in 2013 that Huawei was operating Skycom and had attempted to import US -manufactured computer equipment into Iran in violation of sanctions.

The Supreme Court of British Columbia was told that Ms Meng had used a Huawei subsidiary called Skycom to evade sanctions on Iran between 2009 and 2014. The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion.

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Trump tweeted Friday that negotiations to defuse the high-stakes dispute were "going very well", but the messages since Meng's arrest have been mixed, roiling global stock markets. British Telecom, one of the U.K.'s largest internet providers, said this week it will not use Huawei's equipment in its 5G mobile network when it is rolled out in the United Kingdom, according to the BBC. The prosecutor said she is accused of fraud.

The 46-year-old executive was arrested in Vancouver while changing planes, ratcheting up tensions between the United States and China just as the countries' leaders agreed to a truce in their trade war.

Attorney David Martin said at her bail hearing that her own dignity would not allow her to go against a court order.

The case against Meng revolves around her response to banks, who asked her about Huawei's links to Skycom in the wake of the 2013 Reuters report. At the time, Meng served as the management firm's company secretary.

Executives, including Meng, then made a series of misrepresentations about the relationship between the two companies to the banks, inducing them to carry out transactions linked to Iran they otherwise would not have completed and which violated sanction laws, he told the court.

Huawei is the most prestigious tech company in China and was founded by Meng's father, Ren Zhengfei. But the extradition process could drag on for months.

Chinese telecom giant Huawei's chief financial officer, arrested in Canada, faces US fraud charges for allegedly lying to banks about the use of a covert subsidiary to sell to Iran in breach of sanctions, a bail hearing heard Friday. -China trade talks and the Huawei arrest "are two separate events", calling the timing of Meng's arrest a coincidence.

(Copyright © 2015. All Rights Reserved.)
 
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