Japan prosecutors file new allegation against Nissan's Ghosn

Carlos Ghosn

Japanese prosecutors rearrested Nissan Motor's former chair Carlos Ghosn on fresh, more serious allegations of financial misconduct, dealing a blow to the auto titan's efforts to end his month-long stay in jail and seek bail.

Speculation had been building that he could be released on bail as early as Friday after a court unexpectedly rejected a prosecution request to extend his detention for a further 10 days in connection with a previous charge.

The new charges allege Ghosn transferred losses exceeding $16 million from his own private investments onto the books of Nissan between 2008 and 2012, thus inflicting financial damage on the automaker, Bloomberg reported Friday.

Ghosn and another former Nissan executive, Greg Kelly, were arrested November 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. It said it had also decided against extending detention for Greg Kelly, a former Nissan executive who was arrested along with Ghosn on November 19.

A secret guard stands near step ladders of journalists outside Tokyo Detention Center, where former Nissan chairman Carlos Ghosn and another former executive Greg Kelly, are being detained. It's rumored senior Nissan executives were against Ghosn's push for a full merger of Nissan with Renault.

In the Japanese system, it is extremely rare for the court to grant bail to someone who denies the allegations as Ghosn does, and the decision took observers by surprise.

Games with Gold Titles Revealed for January 2019
Overall, it's a pretty strong month with one of 2018's biggest indie surprises clearly headlining January's slate. Retrieve the ancient Mirror of Smoke and stop the forces of evil.

Much of the case had thus far seemed to revolve around Ghosn deferring pay from Nissan until his retirement, compensation that was allegedly not reported by the carmaker. The conviction rate in Japan is more than 99%.

The new allegations, as a violation of of Japan's Companies Act, are considered more serious with a maximum prison sentence of up to 10 years and a $90,000 fine.

Renault in 1999 sent Ghosn to turn around Nissan, then on the verge of bankruptcy, and he led its rise to the world's second-largest automaker.

Nissan, which removed him as its chairman shortly after it made public the findings of its own investigation, claims he also misused company funds.

Kelly's wife, Donna Kelly, said in a video message carried by TV Asahi and other networks that her husband was "wrongly accused as part of a power grab" at Nissan.

There was no immediate word on Greg Kelly, who was arrested at the same time over his alleged role in masterminding the whole crime. "I think this case has a big impact and effect on the Japanese justice practice, and such a move is favorable for the defense side". A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday.

Related News:

Most liked

Fiancé of missing Colorado mom arrested
Reuters Patrick Frazee , 32, appears in a booking photo provided by the Woodland Park Police Department on December 21, 2018. Her fiancé, Patrick Frazee , told investigators the couple met that day so he could pick up their 1-year-old daughter.

Panagora Asset Management Inc. Trims Position in Walgreens Boots Alliance Inc (WBA)
The analysts are organized by industry, giving them deep insight into developments that may affect profits and stock performance. The company in its last quarterly report recorded $1.48 earnings per share which is above the $1.45 predicted by most analysts.

U.S. to withdraw 7000 troops from Afghanistan
Earlier this weeks, peace talks took place in Abu Dhabi between U.S. and Taliban representatives in a bid to end the conflict. In addition, some 8,000 troops from 38 other countries in Resolute Support provide training and support for Afghan forces.

Dodgers Trade Yasiel Puig, Matt Kemp to Reds in Blockbuster Trade
The Dodgers could also allocate the money they save in the deal to other free agents or big-name players via the trade market. Wood has been one of the most heavily relied on pitchers on the Dodgers roster over the last three seasons.

United States stocks tumble as Fed raises rates
The economy has been adding jobs at a pace that will continue bringing the unemployment rate down over time, he said. The S&P 500 , already on pace for its worst December since the Great Depression, hit its lowest since August 2017.

Former opener WV Raman appointed coach of Indian women's cricket team
Kirsten was interviewed via Skype with four others while one interview was conducted over the phone. The BCCI has appointed WV Raman as the coach of the Indian women's cricket team on Thursday.

Redskins put Montae Nicholson on reserve non-football injury list after arrest
Nicholson was a fourth-round pick in 2017 and has appeared in all 14 games this season, but he was benched after seven starts. Authorities determined that Nicholson assaulted the man and Maggiore assaulted both the man and the woman.

Govt panel to look into Startup tax issues
The notices were mostly sent to the startups whose valuations had fallen after the first round of fundraising. A startup incorporated after April 1, 2016 but before April 1, 2021 is eligible for this tax incentive.

Men Arrested for Killing Women in Morocco Tied to ISIS
The victims have been identified as 24-year-old Louisa Vesterager Jespersen of Denmark and 28-year-old Maren Ueland of Norway . The Moroccan government spokesman, Mustapha El Khalfi, described the killings as a "criminal and terrorist act"...

Israel reportedly asking United States to lean on Lebanon over Hezbollah tunnels
But the tunnels are only a small part of the overall threat Iran and Hezbollah pose to Israel from Lebanon. The tunnel shown to journalists appeared to extend around 40 meters inside Israeli territory.

Behold This McLaren P1 GTR's Breathtaking Tribute To Ayrton Senna
At the rear, there are bigger endplates than those of a standard P1 GTR , in order to mimic the look of the MP4/4's wing. MSO has also commissioned a bespoke crash helmet for the owner which will complement the livery of the auto .

Winter Solstice 2018: Google Doodle marks shortest day of the year today
Because of this year's overlap, NASA's meteor expert Bill Cooke dubbed the meteor shower the "Cursed Ursids". The sun would be at its lowest position throughout the Northern Hemisphere sky.

3,500 troops to be on standby if no-deal Brexit
The alternative, a "no-deal" Brexit, risks plunging the British economy into recession and touching off chaos at the borders. Some manufacturers have begun stockpiling parts and goods in anticipation of post-Brexit hiccups to trade.

IS suspected in Moroccan tourist deaths
A suspect was arrested in Marrakesh on Tuesday and identified by authorities as part of a terrorist group. CCTV reportedly shows them approaching the campsite where they pitched a camp 600 yards from the women.

Manchester United Urged To Sell 'Toxic' Paul Pogba
A club can no more be about one player as it can the manager. I had the best manager, to learn how he dealt with people.