Ex-Nissan Chair Carlos Ghosn Charged with Breach of Trust

Ex-Nissan Chair Carlos Ghosn Charged with Breach of Trust

Suspects are often re-arrested on suspicion of new charges periodically to keep them in custody while prosecutors attempt to build a case, and bail is the exception more than the rule. Those allegations center on Ghosn's handling of investment losses and payments made to a Saudi businessman.

But his hopes of being granted bail appear dim, with his chief lawyer admitting at a recent news conference that his client could stay in detention for at least another six months until his trial begins, citing the complexity of a case involving documents in both Japanese and English. Nissan has dismissed Kelly from his role as a representative director.

Renault's most powerful shareholder, the French state, says Ghosn is presumed innocent until proven guilty and has demanded Nissan share the evidence it's collated against him.

"I believe strongly that in all of my efforts on behalf of the company, I have acted honorably, legally and with the knowledge and approval of the appropriate executives inside the company - with the sole goal of supporting and strengthening Nissan, and helping to restore its place as one of Japan's finest and most respected companies".

The company issued a statement on the findings after a board of directors' meeting on Thursday meeting.

From the start of the meeting, it has been reiterated that the Board remains steadfast to their alliance partnership with Mitsubishi and Renault as well.

Only embassy officials and Ghosn's lawyers are allowed to visit him. "We are fearful and very anxious his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment", it said.

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Ghosn has been interrogated daily but now will only be questioned with his consent, Kukimoto said.

His associate, Greg Kelly, another Nissan executive and the carmarker as a legal entity were also charged in relation to the underreporting of income.

He was served a third arrest warrant on December 21 for allegedly shifting a currency swap contract with losses worth ¥1.85 billion to Nissan in 2008 and causing damage to the company by having it pay $14.7 million to a Saudi businessman, who guaranteed credit for Ghosn, in the following years.

Before his sudden downfall, Ghosn was a respected figure in the global auto industry, having rescued the Japanese automaker from near-bankruptcy, building its sales operations and profits and pioneering ecological vehicles. His arrest came after a months-long investigation by Nissan into his conduct, a probe that was largely kept from its French partner.

Ghosn admits the contract was temporarily transferred but said Nissan incurred no losses.

It said it took the charges filed against the firm "extremely seriously" and was continuing its investigation into the case. It reiterated harsh words against Ghosn. "Nissan does not in any way tolerate such misconduct and calls for strict penalties", it said.

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