Huawei CFO Meng Wanzhou to spend weekend in jail after bail hearing adjourns

Meng Wanzhou, the arrested chief financial officer for tech giant Huawei, will spend the weekend in a Canadian jail after a bail hearing adjourned Friday afternoon.

The United States argued that Meng has the means and motive to flee Canadaand she should remain in custody until extradition proceedings begin.

That allegation was contained in an affidavit filed this week by the U.S. Department of Justice and provided to CBC News Friday.

Crown counsel tolda Friday bail hearing in B.C. Supreme Court in VancouverFriday thatMengis "charged with conspiracy to defraud multiple international institutions," with each charge carrying a maximum sentence of 30 years in prison.

Meng, 46, is wanted for extradition from Vancouver to the U.S. on allegations of fraud, including using a shell company to skirt international American sanctions over five years, courtheard.

American officials are seeking Meng's extradition so she can be prosecuted in the States.

The bail hearing is set to resume Monday in Vancouver at 10 a.m. PT.

Accused of violating Iran sanctions

John Gibb-Carsley, a lawyer acting for Canada's attorney-general, said Meng allegedly used an unofficial company called Skycom to access the Iranian market between 2009 and 2014 dealings that would be in violation of U.S. sanctions.

Mengis also accused of making public misrepresentations aboutSkycom, saying it was separate fromHuawei, when the U.S. contends the companies were one and the same.

• Canada had no choice but to arrest Meng: expert

The case has rattled international stock markets, in fearMeng's arrest would derail planned trade talks and a potential trade truce between China and the U.S., the world's two largest economies.

Meng has at least 7 passports, U.S. alleges

The Justice Department affidavit painted a picture of a woman with immense financial resources who had already attempted to evade U.S. arrest warrants for allegedly violating American and European Union sanctions.

It said she possesses "no fewer than seven passports from both China and Hong Kong." Her father, Huawei founder and CEORen Zhengfeihas a fortune worth$3.2 billion US, the affadavit says.

It alleged that around April 2017, Meng and other Huawei executives became aware of a U.S. criminal investigations into the company's practices and began to alter travel patterns to avoid American authorities.

"Meng has tremendous financial and logistical resources at her disposal and could easily flee Canada, should she so choose," the affidavit read.

"Meng has the resources to flee from prosecutionand remain a fugitive indefinitely."

The U.S., the affidavit noted, has no extradition treaty with China.

Onlookers, media crowd bail hearing

Meng arrived at her hearing without handcuffs, wearing a dark green sweater, smiling and shaking hands with her lawyer before the judge arrived.

Media and dozens of members of the public crowded the courtroom, with another crowd outside the building.

During the hearing, Gibb-Carsley said the Attorney General of Canada does not want Mengreleased from custody, echoing U.S. concerns that she hasan incentive to flee and vast financial resources.

The Crown also claimed Meng does not have meaningful ties to Canada, noting she owns two homes in Vancouver but only vacations in the city for a few weeks in the summer.

Mengwas arrested in Vancouver on Saturday, en route from Hong Kong to Mexico.Gibb-Carsley said her arrest warrant wasissued in New York on Aug. 22.

Her lawyer, David Martin, said the court could rely on Meng's "personal dignity" in trusting she would neverbreach a court order.

He said private security andsurveillance could be an option, if Mengwere granted bail. Martin insistedMeng isn't a flight risk because her husband is in Vancouver.

Previously, apublication ban prevented the U.S. Department of Justice from releasing further details about the arrest and subsequent hearing. Several media outlets, includingCBCNews,challenged the ban. It was lifted as the first matter of business at Friday's hearing.

Huaweiis one of the world's biggest suppliers of network gear for phone andinternetcompanies. The telecom company also makes smartphones, standingas the second-leading seller for two quarters straight behind Samsung and ahead of Apple, according to the International Data Corporation.

Huaweiis alsounder scrutiny from the U.S. and other governments over suspected ties to the Chinese government and possible links to spying. Mengis also deputy chair of the board at Huawei.

The company says Beijing has no influence over its operations.

Canada givennotice before arrest

Chinese officials have expressed concern about the arrest, with the Chinese Embassy in Ottawa calling it a serious violation of human rights. Chinese foreign ministry spokesmanGengShuangalso said Canada should have explained whyMengwas arrested.

On Thursday, Prime Minister Justin Trudeau said Ottawahad a few days' noticeprior to the arrest, but said he hadn't had any conversations with China's premier or ambassador about the case.

On Friday,Foreign Affairs Minister Chrystia Freelandsaid Canada's ambassador in Beijing,Ambassador John McCallum, had briefed the Chinese foreign ministry.

"He has assured China that due process is absolutely being followedin Canada and consular access for China to Ms.Mengwill be provided, and that we are a rule-of-law country and we will be following our laws as we have thus far in this matter and as we will continue to do," Freeland said from Berlin.