Abu Dhabi


New York

Thu, 12 Dec 2019 08:04 GMT

Japanese Court approves Ghosn Bail Request, sets Bail at $4.5 Million


7Dnews London

Thu, 25 Apr 2019 02:34 GMT

A Tokyo court on Thursday approved a bail request from ousted Nissan Motor Co Chairman Carlos Ghosn, setting his bail at 500 million yen ($4.5 million), the court said in a statement.

($1 = 111.9700 yen)

Previously, Ghosn was arrested for the fourth time this month on suspicion that he tried to enrich himself at Nissan's expense, to the tune of $5 million. 

In early March, he was released on $9 million bail after spending 108 days in jail, and he denied all allegations against him. His defence team launched a public battle against the prosecutors, calling the latest arrest "illegal" in documents seen by Reuters. 

Once celebrated as the saviour of a near-bankrupt Nissan 20 years ago, Ghosn has been ousted as chairman of Nissan, Renault SA and Mitsubishi Motors Corp since his arrest, threatening the stability of the auto-making alliance he masterminded. 

He has said he is the victim of a boardroom coup.