Carlos Ghosn was to learn his fate yesterday as a Tokyo court ruled on his bail request after he vowed to remain in Japan if released and offered to provide more collateral.
The ousted Nissan Motor Co chairman has pleaded for bail after languishing in custody for 64 days as he fights charges of financial misconduct that he has strenuously denied.
In a statement released earlier in the day, Ghosn sought to change the court’s previous judgement that he represents a flight risk and might attempt to tamper with evidence.
“As the court considers my bail application, I want to emphasize that I will reside in Japan and respect any and all bail conditions the Court concludes are warranted,” Ghosn said in a statement released by his US-based representatives.
He vowed to attend any subsequent trial “not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself.”
The court had rejected previous attempts at securing his freedom on bail and even his own lead lawyer has said that it could be six months before he is released for a trial.
Devon Spurgeon, a spokeswoman for Ghosn, said that his family had already rented an apartment in Tokyo where he promised to reside while awaiting trial.
He has also promised to hand over his passports, refrain from contacting people connected with the case and pay for security guards approved by prosecutors to monitor his movements, Spurgeon said.
She added that Ghosn has also offered a higher bail fee by stumping up Nissan stock as collateral and promised to wear an electronic tracking bracelet paid for by himself.
However, “there is no system in Japan in which a person accused in a criminal case can be released with such a tracking bracelet,” an official at the Japanese Ministry of Justice said.
Ghosn’s arrest has thrown into question the future of the auto alliance he has forged, which has come under pressure in his absence.
Nissan immediately ousted him as chairman after the arrest, as did Mitsubishi Motors Co, the other Japanese firm in the three-way alliance with Renault SA, while the French firm is expected to meet later this week to discuss removing Ghosn as chairman and CEO.
On Sunday, French Minister of the Economy and Finance Bruno Le Maire denied talk of a potential merger between Renault and Nissan, despite reports in the Japanese media that Paris was pushing for that outcome.
“The subject is not on the table today. What is on the table today is the governance of Renault,” he told journalists during a visit to Cairo. “The most important thing for us is to have solid, stable, sustainable governance for Renault.”
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