The heiress to Chinese technology giant Huawei is due in court in Canada this morning for after she was arrested in Vancouver last week.
Meng Wanzhou will appear before a judge at British Columbia Supreme Court on Friday for a bail hearing after she was arrested at Vancouver airport last Saturday for allegedly violating U.S. sanctions against Iran.
After the bail hearing she will have to return to court for extradition proceedings as the U.S. tries to have her moved across the border, though no date has been set.
Meng Wanzhou will appear in court in Vancouver on Friday morning for a bail hearing after she was arrested on Saturday and accused of violating US sanctions against Iran
Meng was arrested she she changed planes at Vancouver airport (file image) on Saturday December 1 and has been in custody ever since, pending her bail hearing today
News of the arrest only began spreading on Thursday after Meng was granted a publication ban. In a day of rapid developments, it was reported that:
- Meng has connections via her husband Xiaozong Liu to at least two luxury properties in Vancouver, where she was arrested last week
- She appeared in court for the first time on Wednesday but the bail hearing was adjourned until Friday morning
- China has demanded Meng's release, accusing Canada and the U.S. of violating her rights and abusing international law
- Trump denied having any knowledge of the operation, but National Security Adviser John Bolton admitted he did know
- Trudeau also had a few days' notice, but denied having anything to do with planning the arrest
Meng appeared in British Columbia Supreme Court on Wednesday for a hearing, but the proceedings were adjourned until Friday, the Vancouver Sun reports.
She is being held under a provisional arrest warrant issued under the Extradition Act, though little else is known about the case after a judge granted Meng a on order banning details from being made public.
Lawyer Gary Botting, who has experience with extradition cases and spoke to the Guardian, said that if Meng is granted bail today, she will likely have to post a surety amounting to 'several million' dollars.
She would also have to give up her passport, may be forced to wear an electronic tag, and could even be assigned guards until her extradition hearing.
After that, her future will depend on whether or not she tries to fight extradition.
If she doesn't, then she could be in the country within weeks to face charges.
However, if she chooses to fight it through the courts, then the process could be delayed for years.
Chinese businessman and oil tycoon Lai Changxing fled his home country for Vancouver in 1999 after being implicated in a massive bribery scandal.
He managed to fight extradition back to China for 12 years before being deported in 2011 on the assurance he would not be executed. He was jailed for life in 2012.
Meng is the heiress to Huawei, which recently overtook Apple to become the world's second-largest technology firm behind Samsung
It also emerged that two expensive properties in Vancouver are owned by a Xiaozong Liu, which is the same name as Meng's husband.
One is located on Matthews Avenue in Shaughnessy, the Vancouver Sun reports, where properties sell for more than $10million each.
News of Meng's arrest, which only emerged on Thursday after a judge granted a reporting ban on the case, sent shock waves around the world.
China reacted with anger as state-run newspapers called Meng's arrest a 'despicable rogue's approach' motivated by U.S. jealously over its superior technology.
Chinese officials demanded to know the precise details of the case and accused the U.S. of violating human rights by detaining Meng without giving a reason.
Stock markets also tumbled at the news, having previously risen after it looked like Donald Trump had negotiated a ceasefire to the brewing U.S.-China trade war during talks with Xi Jinping at the G20.
In fact, even as those talks were going ahead, Canadian officials were busy arresting Meng in Vancouver.
Trump denied any advanced knowledge of the operation, and while Canadian Prime Minister Justin Trudeau admitted being informed of the pending arrest a few days beforehand, he insisted he had nothing to do with the planning.
Both leaders denied the arrest was political, but markets struggled to ignore the political implications of arresting such an important figure amid tense negotiations.
The Dow Jones Industrial Average plunging more than 700 points on Thursday.
However, National Security Adviser John Bolton admitted that he did know about the arrest in advance on Thursday, raising the prospect that he might have gone behind the president's back in an attempt to scupper negotiations.
The arrest was made at Washington's request as part of a US investigation of an alleged scheme to use the global banking system to evade US sanctions against Iran, according to people familiar with the probe.
Meng is the daughter of billionaire company founder Ren Zhengfei, a former Chinese People's Liberation Army engineer.
Donald Trump said he was unaware of plans to arrest Meng while Justin Trudeau said he was made aware a few days in advance, but said he had nothing to do with planning the arrest
Trade markets slumped at news of the arrest, which is likely to complicate trade negotiations between China and the U.S. (pictured, Xi Jinping and Donald Trump talk at the G20 summit)
Another U.S. official told Reuters that while it was a Justice Department matter and not orchestrated in advance by the White House, the case could send a message that Washington is serious about what it sees as Beijing's violations of international trade norms.
The official, speaking on condition of anonymity, acknowledged that the arrest could complicate efforts to reach a broader U.S.-China trade deal but would not necessarily damage the process.
Meng's detention also raised concerns about potential retaliation from Beijing in Canada, where Prime Minister Justin Trudeau sought to distance himself from the arrest.
'The appropriate authorities took the decisions in this case without any political involvement or interference ... we were advised by them with a few days' notice that this was in the works,' Trudeau told reporters in Montreal in televised remarks.
Markets were chaotic over news of the arrest. On Wall Street, the broad-based S&P Index closed down 0.31 percent after making up steep early losses.
'The concept of getting a quick resolution is fading,' Art Hogan, chief market strategist at B. Riley FBR, said of the trade tensions between the world's two largest economies.
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News Pictures Chinese Huawei heiress to appear in Canadian court today
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