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Saturday, July 11, 2020

Japan prosecutors file new allegation against Nissan’s Ghosn

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Japanese prosecutors have added a new allegation of breach of trust against Nissan’s former chairman Carlos Ghosn.

Ghosn, along with another executive Greg Kelly, was arrested on November 19 and charged with under-reporting his income by nearly 10 billion yen (£63 million).

The fresh allegations were filed a day after a court rejected prosecutors’ request for a longer detention of Ghosn and Kelly.

Their lawyers were hoping they could get them released on bail as early as Friday.

So far, the new allegation only applies to Ghosn and Kelly could still be bailed.

Kyodo News service and other Japanese media reported that prosecutors alleged that Ghosn caused Nissan a loss of 1.8 billion yen (£12.6 million) in 2008.

Prosecutors alleged that Ghosn put his personal investment loss during the Lehman crisis on to Nissan, according to Japanese reports.

Ghosn and Kelly are also facing allegations that they under-reported Ghosn’s pay by about five billion yen (£35 million) in 2011-2015, and another four billion yen (£28 million) for 2016-2018, for which their first 10-day detention was to expire on Thursday.

The maximum penalty for violating the financial law is up to 10 years in prison, a 10 million yen (£70,000) fine, or both.

The arrest of an industry icon has triggered international attention. Prosecutors have been criticised for separating the same allegation into two periods as a tactic to detain Ghosn and Kelly longer.

They say Ghosn and Kelly are flight risks. No trial date has been set.

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