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Huawei's CFO is accused of fraud and their main defense is PowerPoint



After years of suspicion by US authorities, Huawei is now on trial for fraud. Today, a trial was held against Huawei's Chief Financial Officer, who was arrested on Saturday in Canada at the request of US law enforcement. Chief Financial Officer Meng Wanzhou is facing extradition to the US for conspiring to cheat banking institutions, according to The Star Vancouver .

High-level arrest, which meant the first big break in a US probe that was largely withheld from the public. Meng happens to be the daughter of the founder and CEO of Huawei, Ren Zhengfei, a former engineer in the People's Liberation Army, whose affiliation with the Chinese Communist Party has contributed to the suspicion of US intelligence. Meng also serves as Vice Chairman of the Board of Huawei.

The US has issued an arrest warrant against Meng, issued on 22 August by a New York court. 60 days have passed on Saturday after Meng's arrest on Saturday to provide evidence and intentions for Canadian courts.


  Meng Wanzhou, Chief Financial Officer of Huawei Technologies, attends the Vancouver Detention Hearing

Photo by Jeff Vinnick / Getty Images [19659008] Meng was arrested in Vancouver during a flight transfer from Hong Kong to Mexico. Canadian prosecutor John Gibb-Carsley pointed out that Meng frequently traveled to the US and visited a son in Boston, but has not traveled since March 2017, suggesting that she will avoid the US after finding Huawei travel the US Department of Justice. Despite this, some Huawei executives continued to travel to the US after the investigation began, indicating that Meng's position was different from their position.

Meng was a board member of a Hong Kong-based company called Skycom, which allegedly did business with Iran in 2009 and 2014. US banks were working with Huawei at that time, so Iran's sanctions were indirectly violated, and Meng committed fraud against these banks. Skycom allegedly had ties to Huawei, and at today's bail hearing, Gibb-Carsley noted that Skycom was an unofficial Huawei subsidiary and used the same company logo. "Huawei is SkyCom," he said, "that's the whole point of the alleged fraud."

Huawei's comment on the arrest of The Verge read: "The company was very willing to provide little information about the charges and is not informed about Ms. Meng's wrongdoing Huawei complies with all applicable laws and regulations in which it operates, including applicable export control and sanction laws and regulations of the United Nations, the United States and the EU. "It did not comment on the hearing."

In defense of Huawei and Meng, her lawyer David Martin introduced a PowerPoint presentation from 2013 that Meng once gave for explanation At a bank in Hong Kong, Huawei had not violated US sanctions.

At today's hearing, it was also examined whether Meng would pose a flight risk if she received the $ 1 million bail, part of the argument Gibb-Carsley put forward. Defense Attorney Martin responded by saying that the Chinese attach importance to saving face, and how Meng would not want her father and Huawei to look bad. What's more, "She would not embarrass China," Martin said.


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