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Huawei CFO allowed $10 mn Bail, but kept under close watch

Huawei CFO allowed $10 mn Bail, but kept under close watch

Huawei’s CFO, Meng Wanzhou, has finally been released on bail for a hefty amount of $10 million. This was decided after the court hearing on Tuesday. The Canadian Government has taken the decision based on Meng’s plea for a bail until the extradition hearing. The Government is willing to extradite Meng to the USA provided the latter can supply the former with the associated filing, intent, and evidence for the same.

Other factors which seemingly influenced the Canadian Government’s decision include the protests from Chinese people as well as the residents of Canada, who went as far as offering their own homes to house Meng until the hearing. The Government has agreed to let Meng go under the condition that she will have to remain indoors from 23:00 to 06:00 every day and would have to wear an Ankle Bracelet as supplied by monitored by Roger’s Industry which is a partner of Huawei.

According to TheStar, Meng has also been allocated a $5.6 million house to live out of while she remains on bail, facing charges. She has also had to surrender her Passports. The people of Canada firmly believe that Meng is not a flight threat and that she will not flee upon bail.

“We have every confidence that the Canadian and US legal systems will reach a just conclusion in the following proceedings,” said a Huawei spokesperson in a statement. “As we have stressed all along, Huawei complies with all applicable laws and regulations in the countries and regions where we operate, including export control and sanction laws of the UN, US, and EU. We look forward to a timely resolution of this matter.”

The US prosecution has made allegations against Meng of being involved in Bank Frauds against the USA and Iran through indirect connections via Skycom, which is basically another name Huawei operates under. The prosecution further argues that Meng has been purposely avoiding the USA because of the aforementioned reasons despite having a son in Boston, an argument which the Judge find hardly plausible.

The USA has been given a period sixty days from the time of Meng’s arrest to supply Canada with the required documentation, failing which, Meng will be let go. US President Donald Trump remarked that he would have to intervene in the matter himself in case Canada does not comply with the wishes of the USA. The United States President, however, did not disclose how he would interfere in the matter.

“If I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” said United States President, Donald Trump. “They have not called me yet. They are talking to my people. But they have not called me yet.”

Meanwhile, in China, there has been an outrage caused by this international incident as many media publications release heated Opinion Articles upon the situation. A former diplomat has also been found missing and is presumed to have been kidnapped in retaliation of the events which have recently transpired.