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11 December 2018, 12:48 | Tara Lloyd
Chinese Tech Exec Faces 30 Years in Prison in U.S., Canadian Prosecutor Says
British Columbia's Asian forestry mission has cancelled its China trip due "to the worldwide judicial process underway" after Huawei's CFO Meng Wanzhou was arrested at Vancouver global Airport last week, " a press release by the Ministry of Jobs, Trade and Technology says.
On Sunday, Chinese officials summoned the USA ambassador to Beijing to protest Ms. Meng's detention. The Chinese government has warned Canada that if Meng is not released, the country will face "grave consequences".
Canadian authorities apprehended Meng on December 1 at the request of the U.S. She was arrested in Vancouver during a flight transfer from Hong Kong to Mexico. The arrest has alarmed global markets amid worries it could torpedo possible thawing of trade tensions between the USA and China.
If extradited to the US, Meng would face charges of conspiracy to defraud multiple financial institutions, a Canadian court heard on Friday, with a maximum sentence of 30 years for each charge.
The U.S. alleges that Huawei used a Hong Kong shell company to sell equipment in Iran in violation of U.S. sanctions.
CFO Meng Wanzhou was arrested. He demanded the USA vacate the arrest warrant, warning that Beijing will take further steps based on Washington's response, the official Xinhua News Agency said.
Huawei said its Iran operations were "in strict compliance with applicable laws, regulations and sanctions" of the United Nations, United States and European Union, according to Canadian court documents released on Sunday.
Huawei is now China's largest technology company by employees, with more than 180,000 staff and revenue of $93 billion in 2017.
The article slammed Australia and New Zealand for allegedly allowing the U.S.to meddle in their politics by encouraging them to restrict the use of Huawei technology as a result of the Five Eyes intelligence alliance between the U.S., U.K., Australia, New Zealand and Canada.
Huawei is the world's largest supplier of telecommunications network equipment and second-biggest maker of smartphones, with revenue of about $92 billion previous year.
Meng is the daughter of company founder Ren Zhengfei, a former Chinese People's Liberation Army engineer.
A Huawei spokesman said on Friday the company has "every confidence that the Canadian and U.S. legal systems will reach the right conclusion".
Since July world markets have been unsettled after continued animosity between the nations with Washington imposing tariffs on $250bn of Chinese goods with Beijing imposing duties on $110bn on U.S. goods.
Chief Financial Officer Meng Wanzhou was arrested by Canadian authorities at the request of the United States and is being held in Vancouver.
"When the Chinese ask a telecom company, 'we want you to turn over all the data you've gathered in the country you're operating in, ' they will do it". Martin, her lawyer, said she would never breach a court order on bail because that would embarrass her father and China. They will just do it. We have to understand Chinese companies are not like American companies.
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