Monday , November 30 2020

Huawei CFO could be on the hook for more than $ 1M per annum in security costs: expert

The US security expert who operated as a bail monitor for a billionaire fraudulent convicted Bernie Madoff said that the cost to watch Huawei CFO Meng Wanzhou could easily easily $ 1 million a year.

Meng of the custody was released on Tuesday on bail of $ 10 million. She faces a possible extradition to the US to face charges of breach of penalties against Iran.

Meng release conditions are required to wear an electronic earring bracelet and remain inside the home of Vancouver between the hours of 11 p.m. at 6 a.m.

Huawei CFO Meng Wanzhou will have allowed bail, live in Vancouver under electronic supervision

It will also be directly supervised by a private security company, Lions Gate Risk Management.

Meng must pay the costs of that supervision out of a pocket, something said Nick Casale, a former NYPD officer who wrote and enforced the bail reform agreement for Madoff, will be expensive.

"I would say monthly costs would be between $ 100,000 and $ 150,000," he said.

"They are likely to be returned to law officers, peace officers or law enforcement, and they will be independent people, even though they are paid by the defense and part of the defense team but they will be their own attitude.

"They will not allow her to do anything that is contrary to the bail adjustment."

WATCH: Meng Wanzhou, Huawei CFO, released from custody

If Meng chooses to fight his extradition order, he could eventually join the millions of dollars.

For example, the case of Lai Changxing, a Chinese businessman who fled to Canada after being included in a bribery scandal, had to drag for 12 years before it was eventually extinguished.

But while Casale says that Madoff and Meng are bail subjects with deep pockets and a possible incentive to flee, he added that Meng's supervision will be easier than many Madoffs.

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"Madoff was the ultimate criminal with $ 65 billion. There were concerns that Madoff himself could commit suicide. There were more concerns that someone who would take a loss in the case of Madoff would look to catch Madoff and & # 39; i kill, "he said.

"We had these extra threats they might have on this case so we had to make Madoff in his flat."

Despite these differences, Casale said he saw Meng release conditions – allowing her to travel between Vancouver, Richmond and parts of North Vancouver – to be too fast, telling Global News that he would have allowed so if he had not taken a lot of mobility.

INFORMATION: New evidence released in the extradition case against Meng Wanzhou

The conditions Madoff and Meng require electronic monitoring, said the technology that he did not have much faith in.

However, Casale said that, although Meng could not try to flee from Canada, he does not believe it is likely – mainly because she will also be under direct supervision.

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

"There is always the remote possibility that something might happen. But I believe that, when having a security company, have set all the necessary steps to ensure that the defendant does not escape."

© 2018 Global News, section of Corus Entertainment Inc.

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