Chinese telecom executive accused of fraud over Iran sanctions

Chinese telecom executive accused of fraud over Iran sanctions

Chinese Foreign ministry spokesman Geng Shuang said on Friday that neither Canada nor the United States had provided China any evidence that Meng had broken any law in those two countries, and reiterated Beijing's demand that she be released.

He says the charges Meng is facing in the US have to do with Huawei using an unofficial subsidiary to access the Iran market in dealings that would contravene USA sanctions.

The lawyer said that Meng had personally denied to American bankers any direct connections between Huawei and the subsidiary, SkyCom, when in fact "SkyCom is Huawei".

According to AP, the prosecutor said she portrayed the two companies as separate, while the USA claims Huawei and SkyCom are connected, and thus Huawei violated US sanctions against Iran.

Gibb-Carsley said the Attorney General opposes Meng's release on bail.

Meng's arrest, which comes as the United States and China are engaged in sensitive trade negotiations, has roiled financial markets and prompted worldwide public outrage and Chinese demands for her release.

Meng's lawyer said the Huawei executive would not breach court orders because of her "personal dignity". When financial institutions asked Huawei about the article, Meng allegedly denied Huawei controlled SkyCom.

Gibb-Carsley said the banks were "victim institutions" of fraud by Meng.

It is alleged the 46-year-old used Hong Kong company Skycom to access the Iranian market in deals that violated United States sanctions.

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He said that the daughter of Huawei founder Ren Zhengfei had substantial financial resources and was a flight risk.

The news of Meng's arrest roiled global stock markets on fears the move could escalate a trade war between the United States and China after a truce was last week between President Donald Trump and China's leader Xi Jinping.

In a statement earlier this week, Huawei said the company complies with all laws and regulations in the countries where it operates, including applicable export control, sanction laws and regulations of the United Nations, the United States and the European Union.

Huawei was founded to sell phone switches but it is now the world's biggest supplier of network gear for phone and internet companies. The Trump administration says they benefit from improper subsidies and market barriers.

In 2014, British Columbia resident Su Bin was arrested by Canadian officials, on accusations that he had stolen top-secret American fighter jet plans. She's likely his heir apparent.

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

Canadian Prime Minister Trudeau told reporters on December 6 that he had been informed of the arrest a few days ahead of it taking place. His parents were school teachers and he grew up in the remote mountainous town in Guizhou province.

Meng, who also has used the English names Cathy and Sabrina, served on the board of Skycom between February 2008 and April 2009, according to Skycom records, and several other past and present Skycom directors appear to have connections to Huawei.

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