Reason behind Huawei CFO Wanzhou Meng's arrest in Vancouver revealed

Cisco's Errant China Travel Alert Shows Tech's Huawei Alarm

As details of American allegations against a Chinese executive were revealed Friday in a Vancouver court, Foreign Affairs Minister Chrystia Freeland said Canada's ambassador in Beijing had briefed the Chinese foreign ministry on her arrest.

The arrest, revealed by Canadian authorities late on Wednesday, was part of a United States investigation into an alleged scheme to use the global banking system to evade American sanctions against Iran, sources say.

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.

Canada is not providing further details about the case because of a court-ordered publication ban.

Meng's lawyer, David Martin, disputed the prosecutor's call to deny bail, saying, "The fact a person has worked hard and has extraordinary resources can not be a factor that would exclude them from bail".

Huawei CFO Meng Wanzhou, who was arrested on an extradition warrant, appears at her B.C. Supreme Court bail hearing along with a translator, in a drawing in Vancouver, British Columbia, Canada December 7, 2018.

In an interview with the Australian Financial Review, former Central Intelligence Agency chief Michael Hayden said there is evidence that Huawei spies for Beijing.

In a packed Vancouver courtroom, Crown attorneys argued that Meng's family's vast financial resources - and the prospect of up to 30 years in an American prison - provided her with ample incentive to flee if granted bail.

Hong Kong-based SkyCom's alleged sanctions breaches occurred from 2009 to 2014.

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Meng's surprise arrest on Saturday is the latest salvo in a feud over trade and technology that has pitted the United States against China, with Canada caught in the middle.

Gibb-Carsley said the warrant for Meng's arrest was issued in NY on August 22. A Canadian official authorized her arrest in November.

Chinese media has blamed her arrest on United States efforts to stop its global expansion, while Huawei said it had "very little information" about the case but was "not aware of any wrongdoing".

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.

He said that the daughter of Huawei founder Ren Zhengfei had substantial financial resources and was a flight risk. She's likely his heir apparent. Canadian President Justin Trudeau denied any political motivation and said that his government had no involvement with the police action or the judicial proceedings.

Meng's father, now 74, comes from rural roots, according to the Huawei website.

The crown compared Meng's case to that of Su Bin, a Chinese businessman accused of stealing USA military secrets who was denied bail in a BC court in 2014, presenting the case as a precedent to also deny bail to Meng.

The company also makes smartphones and has been the second-leading seller for two consecutive quarters, behind Samsung and ahead of Apple, according to IDC.

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