Abu Dhabi, UAESunday 21 July 2019

Carlos Ghosn granted bail by Tokyo court for second time

Former Nissan chairman might be released today after court sets bail at $4.5 million

Nissan's former chairman Carlos Ghosn has been charged with falsifying financial documents and a breach of trust. Reuters
Nissan's former chairman Carlos Ghosn has been charged with falsifying financial documents and a breach of trust. Reuters

Former Nissan chairman Carlos Ghosn was granted bail a second time Thursday for $4.5 million (Dh16.5m) and he might be released today, Japanese media reported.

Mr Ghosn's lawyers had applied for a bail in a Tokyo district court on Monday.

“Ghosn will be free to leave the detention centre… but his movements and communications will likely be strictly monitored and restricted in line with his previous bail conditions,” Japanese newspaper Asahi Shimbun reported.

In a new round of charges filed on April 22, Mr Ghosn was charged with allegedly misdirecting $5m of company funds from July 2017 to July 2018 to a distributor in Oman, according to Tokyo prosecutors.

Mr Ghosn was initially released on $9m bail in March after spending 108 days in jail but was re-arrested on April 4 on new charges, which his lawyers have strongly contested.

Prosecutors said they believe Mr Ghosn might destroy evidence if released. He has denied all the charges against him and said he is the victim of boardroom conspiracy.

Mr Ghosn already faces three other charges, related to allegedly understating his income and for allegedly transferring personal investment losses to Nissan, which he ran two decades.

His lawyers have launched a campaign against the Tokyo prosecutors, noting that treatment of Mr Ghosn has violated international and human rights laws.

Mr Ghosn, widely credited with rescuing Nissan from failure and bringing it together with Renault and Mitsubishi Motors, was first arrested in November, sending shockwaves across Japan, France and the global automotive industry.

Until his arrest, Mr Ghosn, 64, led the alliance between Nissan, Renault and Mitsubishi Motors, 64, which produces about 11 million cars annually.

The French government has a 15 per cent stake in Renault and is the largest shareholder in the company. The French carmaker owns 44 per cent of Nissan.

Updated: April 25, 2019 11:43 AM

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