Carlos Ghosn re-arrested over fresh allegations

Carlos Ghosn re-arrested over fresh allegations

The new arrest warrant states that Ghosn conducted an "aggravated breach of trust" by allegedly transferring obligations on his own personal investment losses worth about ¥1.85bn ($16.6m) to Nissan, inflicting financial damage on the carmaker.

The prolonged detention of a prominent global business leader has drawn attention to the ability of Japanese prosecutors to hold suspects for extended periods without formally charging them.

Foreign media organizations covering the Ghosn case have criticized the judicial system, which allows prosecutors to keep suspects in detention indefinitely through re-arrests and indictments.

So far, Ghosn and Kelly are charged with underreporting Ghosn's pay by about 5 billion yen ($44 million), in violation of the Financial Instruments and Exchange Act.

The prosecutors, however, based on documents obtained, refuted Ghosn's claims that post-retirement payments had not yet been settled.

A spokesman for the Tokyo district public prosecutors office told AFP the office would "deal with it appropriately". The lawyer has previously declined to return calls regarding the Ghosn case.

Ghosn, who formed a carmaking alliance Nissan, Mitsubishi Motors Corp and France's Renault SA, was indicted on December 10 for allegedly understating his income by about half over a five-year period from 2010, and re-arrested for the same alleged crime covering the past three years.

Nissan has dismissed Ghosn as chairman and Kelly as a representative director since the allegations were made.

A Tokyo court on Thursday unexpectedly decided not to extend thechairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct. The prosecutors' allegations are now more aligned with those of Nissan, which has accused Ghosn of misusing company assets and ousted him as chair shortly after his arrest.

Japanese court denies extended detention of former Nissan boss Carlos Ghosn
Nissan chairman Carlos Ghosn re-arrested in Japan – reports

His lawyer, Motonari Otsuru, was not available for comment. The conviction rate in Japan is more than 99 percent for any crime.

Prosecutors also raided Ghosn's residence in Tokyo on Friday in search of evidence, broadcaster TV Asahi reported.

Nissan has said a whistleblower investigation also uncovered personal use of company funds and other misconduct.

The whole scandal is starting to shake the Renault-Nissan-Mitsubishi alliance, with Nissan CEO Hiroto Saikawa pressing for changes to weaken Renault's grip.

Nissan has shunned demands from Renault to hold a shareholder meeting which would enable the French automaker to weigh in on Nissan's selection of Ghosn's replacement and other executive positions.

Nissan, which is pressing Renault for a joint investigation of alliance finances, also wants to re-examine a recent decision to create a new alliance foundation in Switzerland.

So far both men have denied any wrongdoing.

Kelly, an American citizen, has now applied for bail, but his chances may be slim. While there, he had a one-on-one meeting with Renault interim chief Thierry Bollore that Saikawa described as "positive" and "productive", according to Nissan.




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