Huawei CFO Granted Big-Money Bail Amid Controversy

Huawei’s Chief Financial Officer (CFO), Meng Wanzhou, has been granted bail after being arrested in Vancouver Canada. She’s facing the possibility of extradition to the United States for supposedly violating Sanction laws in place by the United States.

Her release was, of course, conditional, the bail was set at $10 million and could be paid via $7 million cash and $3 million as sureties, which is essentially insurance made by people who go to court and promise a judge to supervise the accused person while they’re on bail. She also needs to give up her passports, wear an ankle bracelet, and confine herself to one of her two homes within the Vancouver area from  11:00 p.m. to 6:00 a.m. Alongside that, according to Global News, she must stay within Vancouver and its suburbs.

A few people have come forward to pledge surety for Meng. One of which was Liu Xiaozong, who’s her husband. However, he may not be able to put up the $1 million he wanted since his “interests are too aligned.” Despite that, there are several other people who have come forward offering their pledge to help her out. A Vancouver realtor said he would pledge his $1.8-million property as well as act as surety. Another individual said that her husband used to work at Huawei with Meng and pledged $850,000 of equity from her house. There was even an insurance agent who said he’d known Meng since the mid-1990s. He pledged $500,000 of equity from his home.

One main concern that Vancouver judge William Ehrcke had was if the bail conditions would reduce the risk of her fleeing the country. This is a fair thing to consider since the situation seems to be something that the Chinese government is less than happy about. So, it’s a possibility that if she did run, she would go to China and receive protection from the government. Ehrecke did mention that the conditions outlined by Meng’s lawyers would reduce the riks of her basically trying to flee to an “acceptable level.”

Meng’s defense said that she wouldn’t attempt to flee as it would dishonor Huawei, China, and her family.

All in all, Meng was released on bail but what lies ahead for her is certainly going to be a bumpy road of only knowing what might happen to her.

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