Meng is accused of fraud.
As details of American allegations against a Chinese executive were revealed Friday in a Vancouver court, Foreign Affairs Minister Chrystia Freeland said Canada's ambassador in Beijing had briefed the Chinese foreign ministry on her arrest. The Crown lawyer told the hearing that the USA alleges Huawei Technologies used subsidiary Skycom to do business with Iran, violating sanctions against that country. While a judge has lifted a publication ban that prevented the media from reporting on the evidence presented in court, Canada's Justice Department has been secretive about all aspects of this case.
If she is released on bail, she would likely have to surrender her passport and submit to electronic monitoring until she is discharged or surrendered for trial to the United States.
Before her dramatic arrest in Canada, few in the USA had heard of Meng Wanzhou.
The Crown argues Meng should be denied bail, claiming she is a flight risk.
In an interview with the Australian Financial Review, former Central Intelligence Agency chief Michael Hayden said there is evidence that Huawei spies for Beijing.
SkyCom employees used Huawei email addresses and bank records linked the two companies together, and SkyCom was used to engage in business deals with sanctioned countries, including with Iranian telecom companies, the court heard.
Meng's arrest, which comes as the United States and China are engaged in sensitive trade negotiations, has roiled financial markets and prompted global public outrage and Chinese demands for her release.
The chief financial officer of China’s Huawei Technologies was arrested in Canada on Saturday Dec. 1 2018
In response to a specific question about Meng's arrest, Bolton opined about broader criticisms of Chinese technology firms, playing down the importance of Iran sanctions. Meng was arrested on December 1 while changing planes on a trip from Hong Kong to Mexico.
Meng is the daughter of Huawei's founder, Ren Zhengfei. It's alleged that they did not know that they were in effect doing business with Iran and could have faced severe financial consequences, Gibb-Carsley said.
"If you have infinite resources, the value of pledges diminishes", the lawyer representing Canada's attorney general said.
Meng's bio on the company website says she joined in 1993 and held various positions across the company, including director of worldwide accounting and CFO of Huawei Hong Kong. Chinese Commerce Ministry spokesman Gao Feng said China is confident it can reach a deal during the 90 days that Trump agreed to suspend a scheduled increase in United States import taxes on $200 billion worth of Chinese products.
On Friday, Beijing nevertheless alleged that Meng, known internally as the "princess" of Huawei and possible heir to the throne, had become a pawn in the dispute.
The law enforcement action has also led to questions as to the involvement of high-level government officials in the Trump and Trudeau administrations.
Huawei is the biggest global supplier of network gear used by phone and internet companies, and has been the target of deepening US security concerns.