Published: Sat, March 09, 2019
Markets | By Otis Pena

Carlos Ghosn Bonded Out Of Tokyo Jail

Carlos Ghosn Bonded Out Of Tokyo Jail

Former Nissan chairman Carlos Ghosn's release from detention almost four months after his arrest has gripped Japan, giving the public rare glimpse into how the criminal justice system works.

He did not acknowledge the media as he climbed into a silver Suzuki van with a workman's ladder strapped to the top.

"The case of Carlos Ghosn has highlighted how outdated this system is".

"I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations", Mr Ghosn said in a statement.

Ghosn, also the former chairman of Renault and Mitsubishi Motors, was granted bail after he gave assurances that he would remain in Tokyo, surrender his passport to his lawyer and submit to extensive surveillance.

Ghosn, previously considered a flight risk by the court, is now under a travel ban as part of his bail agreement, to ensure he does not leave Japan.

Nissan is set to hold an extraordinary shareholders' meeting on April 8 to remove Ghosn from the board and appoint Senard as a new director. However, if the longtime automotive industry leader is found guilty, he could be given a maximum sentence of 15 years' prison time.

If he breaks any of the conditions he could lose some or all of the $9-million bail, or even find himself back at the Tokyo Detention Centre before his trial - which could still take months to organise.

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Bollore said he personally views the release as "good news" but Renault does not plan to retain Ghosn as a director.

Ghosn may have walked free from the Tokyo Detention Centre that was his unwanted home for more than 100 days but there will still be significant restrictions on his movement while he is on bail.

Ghosn was accused of misreporting his wage and compensation in November having beforehand held high positions on the Nissan-Renault-Mitsubishi Motors automotive alliance.

Nissan declined to comment on the bail decision, saying it is a matter for courts and prosecutors.

"The company's focus is firmly on addressing weaknesses in governance that failed to prevent this misconduct", it said.

Other provisos of his bail are based around making sure Ghosn can not tamper with evidence or contact Nissan executives or others involved in the case.

"We hope this can serve as a way to end the hostage justice system", Hironaka told reporters Thursday, using the term common among critics referring to the long detentions.

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