Ex-Nissan chief Carlos Ghosn is granted bail after months in Japanese jail


Ex-Nissan chief Carlos Ghosn is granted bail after months in Japanese jail
Nissan Motor Co Ltd Chairman Carlos Ghosn

In Summary

  • Tokyo District Court on Tuesday said that Ghosn, the former leader of Nissan (NSANF) and Renault (RNLSY), could be released from detention on bail of 1 billion yen ($9 million).
  • The auto executive is expected to go on trial later this year on charges he understated his income and abused his position by transferring personal investment losses to the Japanese carmaker.

Carlos Ghosn has been granted bail after spending more than three months in a Japanese jail.

Tokyo District Court on Tuesday said that Ghosn, the former leader of Nissan (NSANF) and Renault (RNLSY), could be released from detention on bail of 1 billion yen ($9 million).

The auto executive is expected to go on trial later this year on charges he understated his income and abused his position by transferring personal investment losses to the Japanese carmaker.

Ghosn denies all the charges. If found guilty, he could face as many as 15 years in prison.

One of the most prominent figures in the global auto industry, Ghosn was arrested by Japanese prosecutors on November 19. He has since been ousted from his role as the head of Nissan, Renault and Mitsubishi Motors, which together form the world’s largest auto-making alliance.

His detention stunned the industry, strained the alliance and drew international attention to Japan’s criminal justice system, in which authorities can keep suspects in detention for prolonged periods while building their case.

 

Ghosn has repeatedly attempted to obtain bail previously without success. Japanese prosecutors, who have opposed all his bail applications, can still appeal the court’s decision, making it unclear when Ghosn might be released.

Ghosn has alleged that his spectacular downfall is the result of a plot against him by Nissan executives who opposed his plan to deepen the Japanese company’s integration with Renault.

A spokesman for Nissan on Tuesday declined to comment on the court’s decision to grant bail to Ghosn.

Nissan’s own investigation into its former chairman and CEO has “uncovered substantial evidence of blatantly unethical conduct,” the spokesman said, adding that “further discoveries related to Ghosn’s misconduct continue to emerge.”

 

 

 

 

 

 

 

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