Carlos Ghosn set for continued detention

Tokyo prosecutors yesterday filed two fresh charges of financial misconduct against former Nissan chief Carlos Ghosn, meaning the auto tycoon is unlikely to be leaving his Japanese jail cell soon. Lawyers for the former jet-setting executive filed a bail application hours later, but have acknowledged he will probably be detained until a trial that could take months to organise. However, in one piece of rare positive news for the once-revered tycoon, the Tokyo District Court turned down a prosecutors’ bid to prevent family visits, meaning he should be allowed contact with his loved ones.

Ghosn denies any wrongdoing and argued Tuesday in a dramatic first court appearance that he had been “wrongly accused and unfairly detained.” Prosecutors yesterday slapped the 64-year-old with a formal charge of under-declaring his income by around four billion yen ($37 million) over three years from 2015. They also pressed charges of “aggravated breach of trust” over a complex alleged scheme in which Ghosn is said to have tried to transfer losses on foreign exchange contracts to Nissan’s books.

As part of the scheme, he is also accused of using company funds to repay a Saudi acquaintance who put up collateral for the contracts. He was already facing a first charge for allegedly under-reporting his compensation over five years to the tune of five billion yen in official documents to shareholders. Prosecutors also filed charges yesterday against Nissan and Ghosn aide Greg Kelly over the additional three years of under-reporting pay