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  HOME | Business & Economy (Click here for more)

Japanese Court Rejects Request for Ghosn’s Release

TOKYO – A court in Japan rejected on Wednesday a request by lawyers of former Nissan boss Carlos Ghosn to end his detention over alleged financial misconduct, public broadcaster NHK reported.

The Tokyo court rejected the appeal by Ghosn’s lawyers a day after the auto tycoon had pleaded innocence in his first appearance in court since his arrest over a month ago.

Ghosn’s defense team had made the bid for his release on the basis that one of the charges against him, an alleged breach of trust, was null and void.

Ghosn is accused of passing off a series of personal investment losses incurred by him in the wake of the 2008 financial crisis to Nissan’s books, but according to his lawyers, those actions were approved by the company’s management.

Ghosn is also accused of under-reporting his income by tens of millions of dollars in documents to investors based on an understanding that he would receive them as post-retirement compensation.

During Tuesday’s court appearance, Judge Yuichi Tada defended the need for the executive’s continued detention, saying he presented a flight risk and that he might tamper with evidence if released.

There are three arrest warrants against Ghosn, but only one of them contains formal accusations on the alleged concealment of compensation agreed upon between 2011 and 2015.

On Dec. 31, the Tokyo District Court had extended Ghosn’s detention until Jan. 11.

 

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