EconomyMarkets

Huawei CFO says HSBC emails disprove basis for U.S. extradition claim By Reuters

© Reuters. Huawei Technologies Chief Financial Officer Meng Wanzhou returns to a court hearing following a lunch break in Vancouver, British Columbia, Canada June 29, 2021. REUTERS/Jennifer Gauthier

By Moira Warburton

VANCOUVER (Reuters) – Lawyers fighting the extradition of Huawei’s chief financial officer to the United States on Tuesday presented internal emails from British bank HSBC that they said disproved U.S. claims that Huawei misled the bank.

CFO Meng Wanzhou’s legal team said the emails and documents submitted to a Canadian court showed at least two senior HSBC leaders were aware of connections between Huawei and its Iranian subsidiary, Skycom. HSBC declined to comment.

Meng’s lawyers are trying to add the documents to evidence. They are meant to counter U.S. charges that only junior employees of the British bank knew about the true nature of relationship between Huawei and Skycom.

U.S. prosecutors have alleged that Meng misled HSBC about Huawei’s business dealings in Iran and may have caused the bank to break U.S. sanctions.

Meng, 49, was arrested in December 2018 at Vancouver International Airport on charges of bank fraud in the United States. She has been held on house arrest for more than two years while her case moves through the Canadian legal system.

Her legal team has extracted internal documents from HSBC through a court in Hong Kong, and they hope to refer to them in the case’s final hearings scheduled for August.

In particular, the defense alleges that two HSBC managing directors viewed Meng’s presentation to HSBC about Huawei’s business in Iran. They said it made clear Skycom’s ownership structure.

Meng and her legal team appeared in the British Columbia Supreme Court on Tuesday on the first day of a two-day hearing where they will argue to add more evidence to support her case.

The evidence shows the U.S. argument is “so defective as to compel the courts to place no reliance on them,” Mark Sandler, defense lawyer for Meng, told the court.

Prosecutors representing the Canadian government argued that the evidence and arguments were beyond the scope of an extradition hearing.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button