Sat, Jan 12, 2019 - Page 10 News List

Nissan’s Ghosn indicted on two further charges

CONCERNED SPOUSE:Ghosn’s wife, Carole, asked for more information on her husband’s health after he ran a fever, as she was worried about his recovery

Reuters, TOKYO

Tokyo prosecutors yesterday indicted former Nissan Motor Co Ltd chairman Carlos Ghosn on two new charges of financial misconduct, his lawyer said, adding to the legal challenges for the once-feted auto executive.

Ghosn was charged with aggravated breach of trust for temporarily transferring personal investment losses to Nissan last year and for understating his compensation for three years, from 2015 to 2017, lawyer Motonari Otsuru said.

Otsuru said his team was applying for bail to release Ghosn, who has been detained since his Nov. 19 arrest.

He had already been charged for under-reporting his income for the five years through 2015.

It is uncommon for defendants in Japan who deny their charges to be granted bail ahead of trial.

Otsuru earlier this week said Ghosn would likely be held until the trial which could begin in about six months.

Even if bail were granted, Ghosn would not likely be released until Tuesday given that Monday is a public holiday and all banks would be closed through the long weekend.

In a court hearing on Tuesday, Ghosn denied the accusations, calling them “meritless” and “unsubstantiated.”

His lawyers, in an opinion submitted to the court, argued that Ghosn’s actions, including using Nissan’s financial standing as collateral to secure currency swaps, were undertaken with the approval of Nissan’s board and officers.

The boards of Nissan and its French 43.4 percent owner, Renault SA, met on Thursday for an update on the Ghosn investigations, with Nissan later saying in a statement it remained committed to the alliance between the two automakers.

At its own informal meeting, Renault said its directors were updated on the company’s compliance investigation into payments to top executives.

Ghosn’s wife, Carole, on Thursday issued a statement on his continued detention, asking Japanese authorities for more information on her husband’s health after he ran a fever, saying she was worried about his recovery.

This story has been viewed 1258 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top