Last Tuesday, Meng Wanzhou, the chief financial officer of Huawei has returned to court for the third day of bail hearings as it was set to be determined whether she will be freed on bail pending extradition to the United States of America.
Meng faces accusations alleging that she misled banks regarding the control of Huawei over a company that is operating in Iran. According to court documents, it placed the banks at risk of violating the sanctions of the United States and incurring severe penalties.
China has repeatedly asked for the release of Meng. She is one of the most senior executives of Huawei. She is also the daughter of Ren Zhengfei, the founder of Samsung.
The hearing entered its third day as the judge heard more on the issue regarding who will take responsibility for the actions of Meng once she is released.
The lawyer of Meng had offered Liu Xiaozong, her husband, as surety, however, the judge and the public prosecutor doubted whether he could perform this duty as he is not considered as a resident of British Columbia and would not suffer if ever she were to breach her bail conditions.
The public prosecutor stated: “If Ms Meng were to flee, were to abscond, Mr Liu would not be left behind here. He would go with her.”
The lawyer of Meng has suggested that surveillance devices and a 24-hour security detail must be kept in order to ensure that she does not leave the country.
He has also proposed a 15 million Canadian dollar (£8.9 million) bail guarantee and said that she would be handing over her passports and travel document to the Canadian police.
The arrest of Meng has greatly affected the global markets hard due to fears that it is a sign of the trade dispute between the United States of America and China heating up again.