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CFO Meng Charged With Conspiracy to Defraud: Huawei Update

Wanzhou Meng
Wanzhou MengPhotographer: Maxim Shipenkov/EPA
Updated on

Huawei Technologies Co.’s chief financial officer Wanzhou Meng faces extradition to the U.S. over potential violations of American sanctions on Iran. She appeared in a Vancouver courtroom on Friday, where she is expected to seek bail.

Meng was charged with conspiracy to defraud banks and Canada’s Crown lawyer told the judge she has incentive to flee the country. Dishonesty is a factor in deciding her bail, the lawyer said. The Crown lawyer argued that it’s too difficult to set bail high enough to prevent her from fleeing. "To feel the pull of bail, we are in a different universe in this case." Meng spends two weeks a year in Vancouver, the lawyer said.