The arrest of Meng Wanzhou, chief financial officer of Chinese telecom giant Huawei, in Canada following a U.S. extradition notice has triggered one of the worst political crises between Beijing and Ottawa.
Meng, who was arrested in Vancouver earlier this month at the request of U.S. authorities, was released on bail Tuesday to await extradition proceedings.
She had to post a $10-million bail, surrender her passports and abide by more than a dozen conditions.
Meng faces extradition to the U.S. over allegations she was involved in violating sanctions on Iran, with each charge carrying a maximum sentence of 30 years in prison.
China has demanded from Canada “to immediately correct its mistake and release” Meng.
Who is Meng Wangzhou?
The 46-year-old mother of four is also known as Cathy or Sabrina Meng. She is the daughter of Ren Zhengfei, a former Chinese military officer who founded Huawei in 1987.
According to her company profile, Meng has a master’s degree from Huazhong University of Science and Technology. She joined Huawei in 1993 and has held a number of management and executive positions. Meng currently serves as company CFO and deputy chair of the board.
She is set to inherit much of her father’s wealth. Ren is the world’s 83rd richest person with net worth estimated at over $3 billion.
Huawei is a private company fully owned by its employees.
It has grown into the world’s largest telecommunications company, employing nearly 180,000 people in more than 170 countries and regions worldwide, including more than 700 people in Canada.
According to its 2017 annual report, Huawei generated $ 92.5 billion US in revenue last year and $ 7.2 billion US in net profits.
The company is currently poised to take advantage of the global roll out of 5G — or fifth generation —cellular wireless technology.
The U.S. government has 60 days to present a full extradition request from the moment of Meng’s arrest at the Vancouver airport on Dec. 1.
The Canadian government will have 30 days to decide whether to issue an authority to proceed with the case.
Should an authority to proceed be issued, an extradition hearing will be held at British Columbia Supreme Court.
Extradition requests are handled by the International Assistance Group within the Department of Justice.
Meng’s next court appearance is set for Feb. 6, 2019.
She will be given every opportunity to challenge the extradition in court, Canadian officials said Wednesday. It’s a process that in some rare cases could take more than 10 years.
At a later point in the process federal Justice Minister Jody Wilson-Raybould has to decide whether to send Meng to the U.S.
With files from CBC News