Home > Brands > Huawei > BREAKING NEWS: Huawei CFO Released on Bail

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.

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.”

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.

You may also like
Huawei Australia’s Revenue Halved After 5G Ban
Biden Blocks 59 Chinese Companies, Including Huawei
Huawei Takes On Android With Harmony OS
Huawei To Launch New Mobile OS Next Month
UK Begins Huawei Rip-Out