CFO granted bail of C$7.5m
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INTERNATIONAL - Huawei Technologies chief financial officer Meng Wanzhou was granted bail by a Canadian court, allowing the executive to stay in her Vancouver home as she awaits a possible extradition to the US over fraud charges.
Justice William Ehrcke of the British Columbia Supreme Court agreed to release Meng on condition she post bail of C$10 million (R107.06m), including at least C$7m in cash, and submit five people who would act as “sureties” - guarantors to ensure she complies with the bail terms who would lose the cash or other assets they put up if she were to flee.
Meng broke into tears and wiped her eyes upon the announcement from the judge. The viewing gallery applauded. Meng, 46, was arrested on December 1 at the request of US authorities as she changed planes in Vancouver while on her way from Hong Kong to Mexico to Costa Rica to Argentina to France and back to China. Before the ruling, she seemed almost relieved at the prospect of a break from the punishing pace.
The mother of four is accused of conspiring to defraud banks to unwittingly clear transactions linked to Iran, in violation of US sanctions.