Carlos Ghosn set for release from detention in Japan

Carlos Ghosn

Nissan’s former CEO has been charged with financial misconduct, but court rejects prosecutor report to detain him longer in relation to other charges

Ousted Nissan chairman Carlos Ghosn could be released from detention in Japan tomorrow (Friday December 21), after a court in the country rejected a request by prosecutors to extend his detainment.

Ghosn has already been formally charged with financial misconduct – over claims he under-reported his salary over a five-year period – in Japan, but prosecutors were seeking more time to question him on separate charges.

Ghosn, the architect of the Renault-Nissan-Mitsubishi Alliance, was arrested in Japan in November accused of under-reporting his salary, using company assets for personal use and other claims.

Ghosn was stripped of his chairman roles at Nissan and Mitsubishi after the allegations emerged, although he remains chairman and CEO of Renault.

Nissan has also been charged by prosecutors, as a corporation involved in the case, according to NHK. Former Nissan representative director Greg Kelly, who was arrested at the same time as Ghosn, has been indicted too. The course also rejected an extension for his detention, so he could also be released on Friday.

According to NHK, prosecutors believe Ghosn arranged that, following his retirement, he would receive the difference between the salary documented in Nissan’s reports and that actually paid out.

If found guilty of the crimes he has been charged with, Ghosn could be sentenced to up to 10 years in prison, and fined up to £4.9 million by Japanese financial regulators.

Ghosn has not issued any public statement following his arrest, but his defence team have denied the allegations to prosecutors, claiming that they are invalid because they do not relate to his salary, but instead to fuiture payments he was expected to receive after retiring.

Read more

Nissan officially dismisses Carlos Ghosn from chairman role

Nissan chairman Carlos Ghosn arrested over financial misconduct allegations

Opinion: taking stock of Nissan’s claims against Carlos Ghosn – and their impact

Source: Autocar Online

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