Huawei executive faces United States fraud charges linked to Iran sanctions

Chinese Tech Exec Faces 30 Years in Prison in U.S., Canadian Prosecutor Says

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.

Meng faces charges of fraud in the USA for allegedly misrepresenting Huawei's relationship with Hong Kong-based Skycom, according to evidence read in court on Friday.

Court papers from the bail hearing of the Huawei CFO in Canada show the charges against her go back at least five years.

Ltd., is accused of fraud offenses and faces an extradition request from the USA, a bail hearing was told.

Dressed in a dark green sweatshirt and sweatpants, she shook hands with her lawyer, David Martin, and smiled at him after she was led into B.C. Supreme Court by a sheriff.

The arrest of a top-ranking officer of one of China's leading tech companies on charges of technology theft and misuse has given a new twist to the trade and technology war between Washington and Beijing, even as the company ran into trouble in other countries - mainly Japan, which banned its government staff from buying Huawei devices, and the United Kingdom, which made the firm submit to special security norms to continue to operate.

CNN, quoting an unnamed official, said the United States saw the arrest as providing leverage in US-China trade talks - although White House trade advisor Peter Navarro has denied any link to the dialogue. A judge on Friday lifted a publication ban Meng had secured that curbed the media's ability to report on the evidence or documents presented in court.

"This is one of the U.S.'s many tactics and tools used in its trade war with China to maximize its gains". That information was passed on to federal prosecutors in the Eastern District of NY, the Journal report said.

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Federal regulators are also in the process of implementing rules that would bar Huawei for rolling out fifth-generation, or 5G, networks in the United States.

Chinese state-run media said the arrest was part of U.S. efforts to curtail China´s tech industry.

In January 2013, Reuters reported that Skycom, which attempted to sell embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator, had much closer ties to Huawei than previously known.

The White House did not specify why she was detained but mentioned longstanding USA concerns over Chinese firms using stolen intellectual property and how Beijing acquires information technology. Fleeing would cause Meng to lose "face", Meng's lawyer said. She conferred with her two lawyers through a translator.

A Canadian prosecutor urged a Vancouver court to deny bail to a Chinese executive at the heart of a case that is shaking up US-China relations and worrying global financial markets. While unproven, the allegation was enough to take action against the company, including a ban on Huawei products in USA military bases in May. She's likely his heir apparent.

USA and Asian stock markets tumbled after news of Meng's arrest as it was seen to cause another flare-up in tensions between Washington and Beijing.

Ms Meng, who also used the English names Cathy and Sabrina, served on the board of Skycom between February 2008 and April 2009, according to Skycom records.

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