THE STORIES BEHIND THE HEADLINES

Abu Dhabi

London

New York

Sat, 25 Jan 2020 20:03 GMT

Ghosn Back to Detention until April 14

Business

7Dnews London

Fri, 05 Apr 2019 13:32 GMT

A Japanese court ruled on Friday April 5th that former Nissan boss Carlos Ghosn will remain in custody until at least April 14, as prosecutors were pressing fresh charges of financial misconduct against him, AFP has reported.

In a statement, the Tokyo District Court said it had accepted a request from prosecutors to detain the auto tycoon for a further ten-day period that can subsequently be extended once more.

The full term of the detention is until 14th of April, the court said.

Ghosn, 65, has been confronted with new allegations that he transferred some $15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman.

They suspect around $5 million of these funds were allocated for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments.

Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan, "in order to benefit himself."

Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents, and a further charge of seeking to shift investment losses to the firm.

Stephen Givens, an American attorney in Japan, told AFP that the latest allegations were the most serious yet.

"If the facts are true... that is stealing from the company, that is embezzlement, that is terrible," said Givens, who is not connected with the Ghosn case.

"If that's true, it is a serious charge. It differs very significantly from the previous charges that seem minor and technical. These are hurting Nissan or Nissan shareholders and benefiting Ghosn," Givens added.

Ghosn was recently released on bail after 108 days in custody. In a statement, he described his re-arrest as "outrageous and arbitrary."


Asia