Ghosn’s detention extended to Jan 11: media

Madiha Shakeel December 31, 2018

Tokyo: Former Nissan boss Carlos Ghosn will be spending the beginning of 2019 behind bars after a Tokyo court on Monday extended his detention through to January 11, local media reported.

The decision, reported by public broadcaster NHK and local news agency Jiji Press, comes after Japanese prosecutors re-arrested Ghosn for fresh allegations on December 21, dashing his hopes of being home for Christmas.

There was no immediate confirmation from the court.

The move comes as Ghosn, who was arrested on November 19, faces three separate sets of allegations involving financial wrongdoing during his tenure as Nissan chief.

The growing case against the auto tycoon represents a stunning reversal of fortune for a man once revered in Japan and beyond for his ability to turn around automakers, including Nissan.

The twists and turns of the case have gripped Japan and the business world and shone a light on the Japanese legal system, which has come in for some criticism internationally.

Authorities are pursuing three separate lines of enquiry against the 64-year-old Franco-Lebanese-Brazilian executive.

They suspect he conspired with his right-hand man, US executive Greg Kelly, to hide away around half of his income (some five billion yen or $44 million) over five fiscal years from 2010.

They also allege he under-reported his salary to the tune of four billion yen over the next three fiscal years — apparently to avoid criticism that his pay was too high.

The extension that prosecutors won Monday allows them to continue investigating a complex third claim that alleges Ghosn sought to shift a personal investment loss onto Nissan’s books.

As part of that scheme, he is also accused of having used Nissan funds to repay a Saudi acquaintance who put up collateral money.

Prosecutors have pressed formal charges over the first allegation but not yet over the other accusations.

Copyright AFP (Agence France-Press), 2018

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