Lawyers for Huawei Technologies executive Meng Wanzhou have called the U.S. fraud case against her implausible, unprecedented and fatally flawed. 

They were arguing in the final stage of Meng's extradition hearing in Vancouver on Friday.

The U.S. has accused Meng of defrauding global bank HSBC by lying about her company's business dealings in Iran, which put the lender at risk of breaking Washington-imposed sanctions on the country.

A member of Meng's defense team said most fraud cases involve a victim being cheated out of their money. But in her case, the theory of economic loss by HSBC due to Meng's dealings was "wholly illusory."

The U.S. has been trying to extradite Meng from Canada since December 2018, when she was arrested at Vancouver's International Airport. The case has led to increased diplomatic tensions between China and the U.S., as well as Canada. 

During the final hearing, Meng's lawyers wrote a letter to the court stating that there has been "No deception. No loss. Not a plausible theory of risk" against HSBC.

In the coming days, the judge presiding over the case will decide whether to release Meng or recommend to Canada's Justice Minister David Lametti that she be extradited to the United States.

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