Published: Sun, January 13, 2019
Markets | By Otis Pena

Ghosn indicted on additional charges including aggravated breach of trust

Ghosn indicted on additional charges including aggravated breach of trust

Ghosn has been detained since his November arrest.

The three parties have been indicted for the same charge covering the years 2010-2015. His detention period for the breach of trust allegations would have expired Friday if charges had not been filed. Those allegations center on Ghosn's handling of investment losses and payments made to a Saudi businessman.

"In general in such cases in Japan, it is indeed the case that bail is not approved before the first trial does take place", he said, adding that it could be six months before the case comes before a judge.

Ghosn's aide Greg Kelly, who was arrested at the same time over his alleged role in helping the executive understate his pay, was released on a bail at $635 000 (over R8m) on December 25. But the court rejected the request.

The court overturned a ban on family visiting rights, meaning Ghosn can receive visits from his loved ones, as well as his legal team and diplomats.

The Brazilian-born Frenchman, who is credited with reviving Nissan and remains the chairman of its alliance partner Renault, told a court this week he was innocent of the charges against him.

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

Compensation during previous is expected to come under review.

"I am pleading with the Japanese authorities to provide us with any information at all about my husband's health". "We are fearful and very anxious his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment".

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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 exchange swaps, were undertaken with the approval of Nissan's board and officers. Such visits were canceled Thursday but resumed Friday.

Ghosn's lawyers dispute those claims.

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

If proven, each of Ghosn's alleged offense may carry a sentence of as much as 10 years, prosecutors have said.

The auto tycoon was already facing charges for one allegation of under-reporting his pay, and the new charges accuse him of additional misreporting as well as "aggravated breach of trust" involving company funds.

Tokyo prosecutors on Friday charged former Nissan Motor Co.

Before his sudden downfall, Ghosn was a respected figure in the global auto industry, having rescued the Japanese firm from near-bankruptcy, building its sales operations and profits and pioneering ecological vehicles.

A judge in the Tokyo District Court said during the hearing that keeping Ghosn in jail during the investigation was justified because he posed a flight risk and could hide evidence.

It said it took the charges filed against the firm "extremely seriously" and was continuing its investigation into the case.

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