Don’t miss the latest developments in business and finance.

Ex-Nissan chair Ghosn indicted for alleged breach of trust

Image
AP Tokyo
Last Updated : Jan 11 2019 | 12:55 PM IST

Nissan's ex-chairman Carlos Ghosn was charged Friday with breach of trust in the latest blow for the star executive, according to the Tokyo District Court.

Ghosn was detained on Nov. 19. Earlier, he was charged with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015.

Ghosn; Greg Kelly, another Nissan executive; and Nissan as a legal entity were charged Friday with additional underreporting of income, from 2015 through fiscal 2017.

Ghosn's lawyer said he would request Ghosn be granted release on bail. His detention period for the breach of trust allegations was due to expire Friday.

Kelly and Nissan were not charged with breach of trust. Those allegations center on Ghosn's handling of investment losses and payments made to a Saudi businessman.

Ghosn, 64, says he's innocent.

Also Read

Suspects in Japan are routinely held for months until trials start. Tokyo prosecutors say Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, is a flight risk.

Earlier this week Ghosn told a Tokyo court he was innocent, in his first public appearance since his arrest, and appealed for his detention to end. But the court rejected the request.

"I have a genuine love and appreciation for Nissan," Ghosn told the court. "In all of my efforts on behalf of the company, I have acted honorably, legally and with the knowledge and approval of the appropriate executives inside the company."

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Jan 11 2019 | 12:55 PM IST

Next Story