Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

HSBC : Huawei CFO had resources to flee Canada, border agent tells court in U.S. extradition case

11/19/2020 | 08:28pm EST
Huawei Technologies Chief Financial Officer Meng Wanzhou leaves court in Vancouver

VANCOUVER (Reuters) - A Canadian border official involved with the interrogation of Huawei Chief Financial Officer Meng Wanzhou ahead of her 2018 arrest told a court on Thursday she was a flight risk and had the resources to escape the country without reporting to authorities.

Prosecutors are trying to establish that Meng's arrest and investigation were above board, while Meng's lawyers are seeking to prove that Canadian and U.S. authorities illegally directed the Canada Border Services Agency's (CBSA) examination of Meng in order to use the agency's additional investigative powers to gather information from her without a lawyer present.

Meng, 48, is accused of misrepresenting Huawei Technologies Co Ltd's dealings with Iran, putting one of its lenders HSBC at risk of violating U.S. trade sanctions.

She has denied the charges and mounted a defence, asking that her extradition be thrown out because of alleged collusion between Canadian and U.S. authorities among other reasons.

CBSA officers have testified that they had reason to detain and investigate Meng regardless of the pending arrest warrant.

CBSA superintendent Sowmith Katragadda listed all the countries Meng had visited based on the stamps in her passport, including Mexico, Senegal, Colombia, Brunei, and the United Arab Emirates. He told the court visiting some of these "source countries" was a "national security concern," and constituted grounds to search Meng's devices.

She "has the resources to depart Canada and not report for an examination," Katragadda said. "Ms. Meng is a senior executive for one of the biggest companies in the world. And Canada is a very big country with a lot of small airports."

Defence lawyer Mona Duckett challenged Katragadda regarding "deficiencies" in his note and record taking during the investigation. Katragadda acknowledged he did not take note of a meeting he attended with police the morning of the arrest, the collection of devices, potential threats to national security, or the fact that the Royal Canadian Mounted Police (RCMP) were waiting to arrest Meng after his examination was complete.

But Katragadda denied these were intentional omissions, or that these gaps were of concern to top-ranking border officials.

Meng's arrest has set off a diplomatic conflict between Ottawa and Beijing. Soon after her detention, China arrested Canadian citizens Michael Spavor and Michael Kovrig on espionage charges. The two men remain in detention.

On Thursday, Prime Minister Justin Trudeau said he had no regrets about Meng's arrest regardless of foreign policy implications, pointing to the "longstanding extradition treaty with our closest ally" and adding that Canada's laws can't only be followed "when it's convenient or when it's easy."

Hearings in the British Columbia Supreme Court this week and next week consist of witness testimony from CBSA and RCMP officials, regarding their conduct during Meng's investigation and arrest.

Recent testimony has reviewed and scrutinized minute-to-minute developments at the airport on the day of Meng's arrest.

Another RCMP official, who is now retired and is alleged by Meng's lawyers to have illegally passed identifying details about her electronic devices to the U.S. Federal Bureau of Investigation, declined to testify.

Court documents show that prosecutors initially declined to release notes relating to his affidavit due to "witness safety" concerns.

(Reporting by Sarah Berman in Vancouver and Joseph Sipalan in Kuala Lumpur; Writing by Moira Warburton in Toronto; Editing by Chizu Nomiyama and Stephen Coates)

By Sarah Berman


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / CANADIAN DOLLAR (EUR/CAD) 0.28% 1.54425 Delayed Quote.-0.82%
HSBC HOLDINGS PLC 2.10% 411.45 Delayed Quote.6.37%
All news about HSBC HOLDINGS PLC
10:08aChina's Consumers Fall Behind Even as Its Economy Marches Forward
DJ
09:26aQatar National Bank sells $1 billion in 5-year bonds - document
RE
08:57aHSBC : to axe 82 UK branches, cut services in others
RE
08:09aHSBC : to Close 82 UK Branches This Year as It Focuses on Digital Options
DJ
08:03aHSBC : to Close 82 Branches Across Britain in 2021
MT
07:42aHSBC : to axe 82 UK branches, cut services in others
RE
05:52aBank of England sets out interim 'bail-in' debt targets for banks
RE
05:00aEuropean stocks slip as lockdown worries resurface
RE
03:38aHSBC : Plans To Fast-Track Expansion In Asia, Chairman Says
MT
03:04aBahrain mandated bank abc, citi, gulf international bank, hsbc, jpmorgan, nat..
RE
More news
Financials (USD)
Sales 2020 49 996 M - -
Net income 2020 3 533 M - -
Net Debt 2020 - - -
P/E ratio 2020 31,9x
Yield 2020 1,71%
Capitalization 111 B 111 B -
Capi. / Sales 2020 2,22x
Capi. / Sales 2021 2,25x
Nbr of Employees 230 317
Free-Float 98,1%
Chart HSBC HOLDINGS PLC
Duration : Period :
HSBC Holdings plc Technical Analysis Chart | HSBA | GB0005405286 | MarketScreener
Technical analysis trends HSBC HOLDINGS PLC
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 5,32 $
Last Close Price 5,47 $
Spread / Highest target 35,3%
Spread / Average Target -2,77%
Spread / Lowest Target -23,9%
EPS Revisions
Managers and Directors
NameTitle
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
John M. Hinshaw Group Chief Operating Officer
Ewen James Stevenson Chief Financial Officer & Executive Director
Steven C. van Wyk Chief Information Officer
Sector and Competitors