Thursday , January 28 2021

Huawei's Chief Financial Officer could be on the hook for more than $ 1 million a year in security spending: an expert



The US security expert, who acts as guarantor for the convicted millionaire fraudster Bernie Madoff, says Huawei Meng Wanzhou Chief Financial Officer Chief Financial Officer Chief Financial Officer can easily reach $ 1 million a year.

Meng was released from the arrest on Tuesday of a $ 10 million guarantee. She faces a possible extradition to the United States to be charged with breaking the sanctions against Iran.

Among Meng's conditions of release are the requirements that she brings electronically to the ankle bracelet and remain inside the house in Vancouver between 11:00 hours. and 6 o'clock in the morning.

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It will also be directly under the control of a private security firm, Lions Gate Risk Management.

Meng has to pay the cost of this oversight from his pocket, something Nick Casal, a former NIPE officer who wrote and enforced the agreement to change the guarantee for Madoff, said it would become expensive.

"I would say that the monthly cost will be between $ 100,000 and $ 150,000," he said.

"Clerks, peacekeepers, or law enforcement authorities are likely to be returned and they will be independent, though they will be paid by defense and some defense, but they will have their own integrity.

– They will not allow her to do anything that violates the warranty change.

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If Meng chooses to fight for his extradition order, that price may eventually fit into millions of dollars.

For example, the case of Chinese businessman Lai Changxing, who escaped to Canada after being involved in a bribery scandal, was dragged for 12 years before being extradited.

But while Casale said that both Madoff and Meng are subject to deep pockets of guarantees and potential incentives to escape, he added that Meng's oversight would in many ways be easier than that of Madoff.

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"Madoff was the ultimate killer for $ 65 billion, and he was worried that Madoff himself could commit suicide, and he was more concerned that someone who would lose the Madoff case might seem to avenge Madoff and kill him, he said.

"We had these additional threats we might not have in this case, so we had to make sure Madoff was in his apartment.

Despite these differences, Casale said he sees Meng's conditions of release – allowing her to travel between Vancouver, Richmond and parts of North Vancouver – to be too weak, telling Global News that if he was involved, a lot of mobility.

WATCH: New evidence published in the extradition case against Meng Wanzhou





As both Madoff's and Meng's terms require electronic surveillance, Casale's technology says he has little confidence.

However, Casale said that although it is not possible for Meng to try to escape from Canada, he does not think it is likely – largely because it will be under direct surveillance.

"I do not want to make the mistake they made when they said Titanic was unattainable," he said.

"There is always an extraordinary possibility of something happening, but I believe that protecting the security company has taken all necessary steps to ensure that the defendant will not escape.

© 2018 Global News, a division of Corus Entertainment Inc.


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