Huawei CFO accused of fraud is granted $7.5M bail –


The Canadian authorities has granted bail to Meng Wanzhou, Huawei’s chief monetary officer, 10 days after her arrest in Vancouver. The determination concludes a three-day-long courtroom listening to through which the choose and the general public prosecutor debated whether or not Wanzhou would breach her bail situations.

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Wanzhou, the daughter of Huawei founder Ren Zhengfei, has been accused of fraud with a most penalty of 30 years in jail. She was arrested by Canadian officers on the request of the U.S. authorities on Dec. 1 whereas altering planes on her option to Mexico. As a part of her bail situations, the courtroom has ordered her to pay C$10 million — about $7.5 million — and await U.S. extradition from her Vancouver dwelling. Based on studies, Wanzhou should relinquish her passport, put on an ankle bracelet and stay at dwelling between the hours of 11 p.m. and 6 a.m.

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The U.S. Division of Justice alleges Wanzhou misled American monetary establishments and allowed an unofficial Huawei subsidiary, known as SkyCom, to do enterprise in Iran regardless of U.S. sanctions.

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Huawei didn’t instantly reply to a request for remark.


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