BREAKING NEWS: Huawei CFO Released on Bail
A Canadian court has released Huawei CFO Meng Wanzhou on bail, despite US concerns she is a flight risk. Total bail amount comes to $C10 million.
Reporters in attendance of the bail hearing tweeted out the events as they were happening.
Meng was judged not a flight risk due to a lack of previous criminal record and “various health problems”.
Justice William Ehrcke also stated that although she has four current passports, two are active and they will be handed over on her release after bail is posted.
Judge now reading from #MengWanzhou ‘s own affidavit . He says she states she will agree to all conditions and that she “maintains she is innocent” and she wants to stay in Vancouver to fight extradition #Huawei #ctvnews
— Melanie Nagy (@MelanieNagyCTV) December 11, 2018
The total amount of security for her release is $C10 million dollars, including a cash deposit of $C7 million.
Meng must also surrender her passports, she has to remain in British Colombia in one of her two home in Vancouver under 24/7 surveillance, including ankle bracelet monitoring.
Meng must also pay for all security costs associated with her “community custody plan.”
Judge: I order: that ms Meng may be released from custody upon her entering into a recognizance in the amount of $10 million, including a cash deposit of $7 million. (with five or more sureties) #mengWanzhou
— Michael Mui (@Mui24hours) December 11, 2018
Following the announcement of Meng’s release on bail, Huawei released a statement:
“We have every confidence that the Canadian and US legal systems will reach a just conclusion in the following proceedings.
As we have stressed all along, Huawei complies with all applicable laws and regulations in the countries and regions where we operates including export control and sanction laws of the UN, US, and EU.”
Meng faces accusations from the United States that she misled multinational banks about Iran-linked transactions, potentially violating US sanctions.
Meng may be released today following a decision from the Crown and must return to court on February 6th for her arraignment.