TELETRADER News
4/25, 4:49 AM (Source: TeleTrader)
more TeleTrader news

Japan once more grants bail to Nissan's Ghosn

Tokyo District Court granted former Nissan chairman and CEO Carlos Ghosn a $4.5 million bail, AFP reported on Thursday. Ghosn could be freed the same day when the bail payment is confirmed and if the court overrules objections from the prosecution. Former Renault-Nissan-Mitsubishi alliance executive was arrested for the fourth time less than a month after he was previously freed on bail after a police raid on his residence in Tokyo.

Ghosn's first arrest happened last November due to charges for understatement of income and the misuse of the company assets. He is facing up to ten years in jail on fraud charges. His latest arrest and indictment was also for alleged additional misappropriating of company funds.

While he was freed on bail, Ghosn claimed in a video released this month that he was arrested and charged as a result of "conspiracy" at Nissan and insisted he was innocent.

Breaking the News / MA