Huawei CFO Meng Wanzhou granted bail following fraud charges

Huawei’s CFO, Meng Wanzhou, who was arrested last week in Vancouver on charges related to fraud, has been granted bail.

As part of the ruling, Wanzhou must pay $10 million with $7 million in cash deposits and five or more sureties totaling $3 million. Further, Wanzhou will be subject to an 11pm to 6am curfew where she must live at home and remain in certain geographical areas. She must also surrender her passports, of which she has had seven in 11 years.

Meng is currently facing extradition to the United States. U.S. law enforcement agencies allege Meng tried to evade U.S. trade embargoes against Iran.

Meng is a vice-chair on Huawei’s board of directors and the daughter of the China-based company’s founder Ren Zhengfei.

As recently as December 5th, Canadian Security Intelligence Service (CSIS) director David Vigneault warned Canadians of state-sponsored espionage through 5G mobile networks, placing an emphasis on Huawei’s infrastructure partnerships with carriers.

Following Meng being taken into custody, Prime Minister Justin Trudeau said to reporters that “appropriate decisions were taken by the appropriate authorities,” when asked about Wanzhou’s arrest in Vancouver during a recent press conference.

Scott Bradley, vice-president of Huawei Canada, in a recent statement to MobileSyrup said, “Huawei Canada will continue to work collaboratively with the Canadian government, carriers and other domestic stakeholders to take whatever steps are needed to ensure and protect the integrity of Canada’s national telecommunications infrastructure, including the rollout of 5G technology…”

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