Ghosn Is Indicted for a Second Time as Japan Prosecutors Build Case

Ghosn Is Indicted for a Second Time as Japan Prosecutors Build Case

Ghosn Is Indicted for a Second Time as Japan Prosecutors Build Case

The charges add to an earlier charge of under-reporting his income by around half over the five years through March 2015.

Two people familiar with the matter said he was not sufficiently cooperating with Nissan's probe against Ghosn.

Ghosn's aide Greg Kelly, who was arrested at the same time over his alleged role in helping the executive understate his pay, was released on a bail at 70 million yen ($635,000) on December 25.

Renault's board said an independent review had looked into the compensation of the group's executive committee during the financial years 2017 and 2018 "and has concluded that it is both in compliance with applicable laws and free from any fraud".

If and when Ghosn will be out on bail, his movements are likely to be restricted to his home or a hotel, and he'll need a court permission to leave the country, legal experts have said.

Nissan's board removed Ghosn from the post of chairman on November 22 and ejected American citizen Kelly from his position as a representative director.

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A doctor is attending to the 64-year-old, who is exhausted from the long detention and interrogations, said his lawyer Motonari Otsuru.

The prosecutors, meanwhile, believe Ghosn committed aggravated breach of trust the moment he transferred the contract to Nissan. Suspects are often re-arrested on suspicion of new charges periodically to keep them in custody while prosecutors attempt to build a case, and bail is the exception more than the rule.

The company issued a statement on the findings after a board of directors' meeting on Thursday meeting. It also reported, citing unidentified investigation sources, that Ghosn had discussed the possibility of extending a three billion yen (S$37.5 million) loan to a business run by a Saudi acquaintance who later provided collateral for a personal investment.

The boards of Nissan and its French 43.4% owner, Renault, met yesterday for an update on the Ghosn investigations.

Nissan as well as Mitsubishi, the third alliance partner, have removed Ghosn as chairman, but Renault has kept him on while appointing a deputy CEO to ensure day-to-day management.

But pressure on Ghosn rose further Thursday after French daily Liberation reported that he had not been paying French income taxes since 2012, after moving his fiscal residency to the Netherlands.

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Visits and questioning of the once high-flying industry titan were postponed after Ghosn developed a fever on Wednesday evening. He appeared in public for the first time on January 8 looking gray and gaunt, and was led into a court room handcuffed and with a rope tied around his waist.

In a career spanning decades, during which he won praise for turning around a struggling Nissan, he said he had "always acted with integrity" and had never before been accused of any wrongdoing.

At a court appearance this week, Ghosn said all accusations against him were "meritless" and "unsubstantiated".

Ghosn, 64, says he's innocent.

But Transport Minister Elisabeth Borne told French radio this week that "obviously, if this situation continues we'll have to draw the consequences".

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