Huawei exec faces fraud charges in US: Canada bail hearing

Chinese telecom giant Huawei's chief financial officer, arrested in Canada, faces US fraud charges for allegedly lying to banks about the use of a covert subsidiary to sell to Iran in breach of sanctions, a bail hearing heard Friday.

Meng Wanzhou is accused of "conspiracy to defraud multiple financial institutions" and if convicted faces more than 30 years in prison, a Canadian government lawyer said, in asking the court to deny her bail request.