&nbsp;<a href="http://www.wionews.com/world/venezuela-maduro-government-shuts-schools-suspends-working-day-as-blackout-enters-second-day-202053">Venezuela: Maduro shuts schools, suspends working day as blackout enters </a><a href="http://www.wionews.com/world/venezuela-maduro-government-shuts-schools-suspends-working-day-as-blackout-enters-second-day-202053">second</a><a href="http://www.wionews.com/world/venezuela-maduro-government-shuts-schools-suspends-working-day-as-blackout-enters-second-day-202053"> day</a>

Venezuela&nbsp;shut schools and suspended working hours on Friday after the capital Caracas and other major cities awoke without electricity for a second day due to a problem that struck the&nbsp;South American country's main hydroelectric plant.

<a href="http://www.wionews.com/world/trump-says-open-to-talks-with-north-korea-despite-missile-programme-activity-201987">Trump says open to talks with North Korea despite missile programme activity</a>

US&nbsp;President Donald Trump is open to more talks with North Korea over denuclearisation, his national security adviser said on Thursday, despite&nbsp;reports it is reactivating parts of its missile programme.

<a href="http://www.wionews.com/south-asia/pakistan-never-seriously-cracked-down-militant-groups-that-attack-india-us-daily-202037">Pakistan never seriously cracked down militant groups that attack India: </a><a href="http://www.wionews.com/south-asia/pakistan-never-seriously-cracked-down-militant-groups-that-attack-india-us-daily-202037">US</a><a href="http://www.wionews.com/south-asia/pakistan-never-seriously-cracked-down-militant-groups-that-attack-india-us-daily-202037"> daily</a>

Pakistan has never seriously cracked down on militant groups that attack India, a leading US daily has said, warning that the threat of nuclear war between the two nations remains as a long-term solution to the conflict is unlikely without international pressure.&nbsp;

<a href="http://www.wionews.com/world/carlos-ghosn-out-on-bail-will-be-under-strict-monitoring-202032">Carlos Ghosn, out on bail, will be under strict monitoring</a>

No internet, no email and surveillance cameras to monitor his comings and goings. After paying $9 million in bail, former Nissan chief Carlos Ghosn is out of a Japanese jail cell where he spent 108 days, but he must live under a host of restrictions while he awaits trial, which could be a year away.

<a href="http://www.wionews.com/world/agree-to-backstop-changes-or-risk-disorderly-brexit-theresa-may-to-eu-201993">Agree to backstop changes or risk disorderly Brexit: Theresa May warns EU</a>

British Prime Minister&nbsp;Theresa May&nbsp;put the onus on the European Union to make concessions over the thorny issue of the Irish backstop in Brexit talks, or risk Britain leaving the EU without a deal, which she said would be against EU interests.

Venezuela: Maduro shuts schools, suspends working day as blackout enters second day Venezuela shut schools and suspended working hours on Friday after the capital Caracas and other major cities awoke without electricity for a second day due to a problem that struck the South American country's main hydroelectric plant.

Venezuela: Maduro shuts schools, suspends working day as blackout enters second day Venezuela shut schools and suspended working hours on Friday after the capital Caracas and other major cities awoke without electricity for a second day due to a problem that struck the South American country's main hydroelectric plant. Trump says open to talks with North Korea despite missile programme activity US President Donald Trump is open to more talks with North Korea over denuclearisation, his national security adviser said on Thursday, despite reports it is reactivating parts of its missile programme. Pakistan never seriously cracked down militant groups that attack India: US daily Pakistan has never seriously cracked down on militant groups that attack India, a leading US daily has said, warning that the threat of nuclear war between the two nations remains as a long-term solution to the conflict is unlikely without international pressure. Carlos Ghosn, out on bail, will be under strict monitoring No internet, no email and surveillance cameras to monitor his comings and goings. After paying $9 million in bail, former Nissan chief Carlos Ghosn is out of a Japanese jail cell where he spent 108 days, but he must live under a host of restrictions while he awaits trial, which could be a year away. Agree to backstop changes or risk disorderly Brexit: Theresa May warns EU British Prime Minister Theresa May put the onus on the European Union to make concessions over the thorny issue of the Irish backstop in Brexit talks, or risk Britain leaving the EU without a deal, which she said would be against EU interests.

News brief: Big stories of the day

No internet, no email and surveillance cameras to monitor his comings and goings.

After paying $9 million in bail, former Nissan chief Carlos Ghosn is out of a Japanese jail cell where he spent 108 days, but he must live under a host of restrictions while he awaits trial, which could be a year away.

As part of the bail deal arranged by his new legal team hired last month, Ghosn is banned from accessing the internet and email, and only allowed to use a computer not linked to the web at the office of one of his lawyers.

Ghosn, who has French, Brazilian and Lebanese citizenship, was indicted for under-reporting his salary and breach of trust. He must pay for the installation of surveillance cameras in the entrance of his Tokyo residence.

Footage will be viewed by members of the defence legal team and records sent to the Tokyo District Court, said Ghosn's renowned defence lawyer Junichiro Hironaka.

"The cameras will be placed where they can monitor those coming in and out. It's not for recording Ghosn's daily life," said Hironaka, who is nicknamed "the Razor" for many high-profile cases he's won in a country where the conviction rate is 99.9 per cent.

He said he and his colleagues would take turns to monitor.

"One person can't manage, so we'll divide it between the offices of the three defence attorneys," he said.

Similarly, records of Ghosn's phone calls will be kept by his legal team and submitted to the court, Hironaka said. The phone will keep records even if Ghosn attempts to delete them, he said.

It wasn't immediately clear how the internet ban would be enforced, though.

If Ghosn violates any of these conditions, the courts could send him back to jail and make him forfeit his $9 million bail, making any attempt to skirt the rules risky.

The Tokyo District Court declined to comment on how the conditions would be monitored.

TWICE DENIED

Ghosn is also prohibited from leaving Japan, which was widely expected, but must remain in Tokyo. He needs the court's permission if he wants to leave his house for more than two nights.

Ghosn had been denied bail twice under his previous legal team, which had proposed he wear a GPS ankle monitor, on grounds that he would be a flight risk or that he would destroy evidence. His new lawyers managed to convince the court otherwise, proposing the restrictions to address concerns.

But Shin Kukimoto, deputy public prosecutor at the Tokyo prosecutors office, said he thought the bail conditions were not sufficient to prevent tampering with evidence.

Despite that concern, experts said such restrictions were unusual and even harsh in Japan, which has faced international criticism for the prolonged detention of suspects, who are often held until a trial starts, with defence lawyers banned from interrogations.

"We have never seen conditions like this placed on bail. When I saw them I thought it was harsh," said Shingi Bando an official at the Japan Bail Support Association, which offers support to people who struggle to come up with bail.

SURGICAL MASK

Ghosn was released on Wednesday from the Tokyo Detention Center, where he had been held since his Nov. 19 arrest.

He was whisked past a horde of journalists dressed in what lead defence lawyer Takashi Takano later said was a disguise - a blue cap, glasses, surgical mask and workman's outfit - and was taken away in a mini-van with a ladder on top.

"We managed to have Mr. Ghosn’s bail granted, but it comes with many strict requirements," Takano wrote on his blog.

He said he the disguise was an attempt to ensure his client could be released without being noticed and taken to a secret location so he could "get back into a normal social life" with his family, who had come to Japan.

The ruse partly worked. While live TV coverage captured images of Ghosn emerging from jail surrounded by a group of guards, many journalists who were kept behind a fence outside didn't recognize him.

Hironaka said Ghosn agreed to go along with the disguise.

"It seemed as if Ghosn knew that being smart and confident in high brand suits is not always the best thing to do," he said.

Ghosn, who was spotted on Friday walking around Shinjuku Gyoen, a downtown Tokyo park, with his wife, is also banned from communicating with other parties involved in the case, including Nissan management.

Nissan Motor Co. has sacked Ghosn as board chairman, but he is still a board member because changes to the board need to be approved by shareholders, who will meet in April.

Should he want to attend a Nissan board meeting, Ghosn needs the court's permission.

No internet, no email and surveillance cameras to monitor his comings and goings. After paying $9 million in bail, former Nissan chief Carlos Ghosn is out of a Japanese jail cell where he spent 108 days, but he must live under a host of restrictions while he awaits trial, which could be a year away.

No internet, no email and surveillance cameras to monitor his comings and goings. After paying $9 million in bail, former Nissan chief Carlos Ghosn is out of a Japanese jail cell where he spent 108 days, but he must live under a host of restrictions while he awaits trial, which could be a year away. As part of the bail deal arranged by his new legal team hired last month, Ghosn is banned from accessing the internet and email, and only allowed to use a computer not linked to the web at the office of one of his lawyers. Ghosn, who has French, Brazilian and Lebanese citizenship, was indicted for under-reporting his salary and breach of trust. He must pay for the installation of surveillance cameras in the entrance of his Tokyo residence. Footage will be viewed by members of the defence legal team and records sent to the Tokyo District Court, said Ghosn's renowned defence lawyer Junichiro Hironaka. "The cameras will be placed where they can monitor those coming in and out. It's not for recording Ghosn's daily life," said Hironaka, who is nicknamed "the Razor" for many high-profile cases he's won in a country where the conviction rate is 99.9 per cent. He said he and his colleagues would take turns to monitor. "One person can't manage, so we'll divide it between the offices of the three defence attorneys," he said. Similarly, records of Ghosn's phone calls will be kept by his legal team and submitted to the court, Hironaka said. The phone will keep records even if Ghosn attempts to delete them, he said. It wasn't immediately clear how the internet ban would be enforced, though. If Ghosn violates any of these conditions, the courts could send him back to jail and make him forfeit his $9 million bail, making any attempt to skirt the rules risky. The Tokyo District Court declined to comment on how the conditions would be monitored. TWICE DENIED Ghosn is also prohibited from leaving Japan, which was widely expected, but must remain in Tokyo. He needs the court's permission if he wants to leave his house for more than two nights. Ghosn had been denied bail twice under his previous legal team, which had proposed he wear a GPS ankle monitor, on grounds that he would be a flight risk or that he would destroy evidence. His new lawyers managed to convince the court otherwise, proposing the restrictions to address concerns. But Shin Kukimoto, deputy public prosecutor at the Tokyo prosecutors office, said he thought the bail conditions were not sufficient to prevent tampering with evidence. Despite that concern, experts said such restrictions were unusual and even harsh in Japan, which has faced international criticism for the prolonged detention of suspects, who are often held until a trial starts, with defence lawyers banned from interrogations. "We have never seen conditions like this placed on bail. When I saw them I thought it was harsh," said Shingi Bando an official at the Japan Bail Support Association, which offers support to people who struggle to come up with bail. SURGICAL MASK Ghosn was released on Wednesday from the Tokyo Detention Center, where he had been held since his Nov. 19 arrest. He was whisked past a horde of journalists dressed in what lead defence lawyer Takashi Takano later said was a disguise - a blue cap, glasses, surgical mask and workman's outfit - and was taken away in a mini-van with a ladder on top. "We managed to have Mr. Ghosn’s bail granted, but it comes with many strict requirements," Takano wrote on his blog. He said he the disguise was an attempt to ensure his client could be released without being noticed and taken to a secret location so he could "get back into a normal social life" with his family, who had come to Japan. The ruse partly worked. While live TV coverage captured images of Ghosn emerging from jail surrounded by a group of guards, many journalists who were kept behind a fence outside didn't recognize him. Hironaka said Ghosn agreed to go along with the disguise. "It seemed as if Ghosn knew that being smart and confident in high brand suits is not always the best thing to do," he said. Ghosn, who was spotted on Friday walking around Shinjuku Gyoen, a downtown Tokyo park, with his wife, is also banned from communicating with other parties involved in the case, including Nissan management. Nissan Motor Co. has sacked Ghosn as board chairman, but he is still a board member because changes to the board need to be approved by shareholders, who will meet in April. Should he want to attend a Nissan board meeting, Ghosn needs the court's permission.

Carlos Ghosn, out on bail, will be under strict monitoring

A new <a href="http://www.wionews.com/world/former-nissan-chief-carlos-ghosn-leaves-tokyo-jail-on-bail-after-3-and-a-half-month-detention-201557">bail application for Carlos Ghosn</a> includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday.&nbsp;

Ghosn, who has been detained by prosecutors since November 19, is determined to win bail after having two earlier applications turned down, Junichiro Hironaka said at a news conference Monday. Ghosn replaced his previous lawyer with Hironaka, who is known for winning several high-profile defence cases in Japan after he was denied bail for the second time in late January.&nbsp;

Hironaka said Ghosn was willing to face the inconvenience of being monitored to earn his release. He did not specify where the cameras would be placed or who would monitor him. The new application was submitted last Thursday. A ruling is likely this week.&nbsp;

Ghosn earlier offered to wear an ankle monitor to limit his movements, but prosecutors said the proposal was irrelevant because Japan does not use such devices.&nbsp;

"We have presented our own convincing application showing there is no flight risk or risk of tampering with evidence," Hironaka said.&nbsp;

Ghosn's case has highlighted long detention periods in Japan, where prosecutors have greater leeway to hold and question suspects than their counterparts in many Western countries.&nbsp;

Prosecutors have charged Ghosn with failing to report more than $80 million in deferred compensation on eight years of Nissan Motor Co.'s financial reports and with causing Nissan to pay a Saudi businessman who helped Ghosn with a personal financial problem. Ghosn was stripped of his title as chairman of Nissan in November.&nbsp;

Ghosn says he is innocent of the charges. In a January court hearing, he called discussions about the compensation "hypothetical" and not subject to reporting rules, and he said the Saudi businessman's company "was appropriately compensated" for "critical services that substantially benefited Nissan."&nbsp;

Hironaka, who is known as "the razor" for his string of past legal victories, said he was confident of winning bail for his client, the Dow Jones report added.&nbsp;

"I'm now 73 years old, but I want to test how sharp the razor still is," he said.

A new bail application for Carlos Ghosn includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday.

A new bail application for Carlos Ghosn includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday. Ghosn, who has been detained by prosecutors since November 19, is determined to win bail after having two earlier applications turned down, Junichiro Hironaka said at a news conference Monday. Ghosn replaced his previous lawyer with Hironaka, who is known for winning several high-profile defence cases in Japan after he was denied bail for the second time in late January. Hironaka said Ghosn was willing to face the inconvenience of being monitored to earn his release. He did not specify where the cameras would be placed or who would monitor him. The new application was submitted last Thursday. A ruling is likely this week. Ghosn earlier offered to wear an ankle monitor to limit his movements, but prosecutors said the proposal was irrelevant because Japan does not use such devices. "We have presented our own convincing application showing there is no flight risk or risk of tampering with evidence," Hironaka said. Ghosn's case has highlighted long detention periods in Japan, where prosecutors have greater leeway to hold and question suspects than their counterparts in many Western countries. Prosecutors have charged Ghosn with failing to report more than $80 million in deferred compensation on eight years of Nissan Motor Co.'s financial reports and with causing Nissan to pay a Saudi businessman who helped Ghosn with a personal financial problem. Ghosn was stripped of his title as chairman of Nissan in November. Ghosn says he is innocent of the charges. In a January court hearing, he called discussions about the compensation "hypothetical" and not subject to reporting rules, and he said the Saudi businessman's company "was appropriately compensated" for "critical services that substantially benefited Nissan." Hironaka, who is known as "the razor" for his string of past legal victories, said he was confident of winning bail for his client, the Dow Jones report added. "I'm now 73 years old, but I want to test how sharp the razor still is," he said.

Former Nissan chief Carlos Ghosn offers to accept camera surveillance in bid for bail

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his <a href="http://www.wionews.com/world/tokyo-court-grants-ex-nissan-chief-carlos-ghosn-bail-201209">release from a Tokyo detention centre after more than three months</a> in custody.

The auto tycoon is expected to walk out of the custody centre in northern Toyko after the court rejected a last-ditch appeal from prosecutors to block his release.

Dozens of journalists gathered outside the jail in northern Tokyo from dawn on Wednesday, but prosecutors could still prevent the release by filing new allegations against Ghosn, who already faces three charges of financial misconduct.

Overnight, he once again proclaimed his innocence of the charges, which include claims he under-reported his salary and sought to shift personal losses to Nissan's books.

"I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," the 64-year-old said in a statement.

Members of Ghosn's family were also seen entering the building prior to an expected release.

The surprise court ruling granting Ghosn bail came after two unsuccessful previous attempts to win release and was the latest twist in a case that has gripped Japan and the business world since the auto industry titan's November 19 arrest.

Ghosn shook up his legal team last month, hiring renowned defence attorney Junichiro Hironaka, who quickly filed a new bail request.

The court had previously justified Ghosn's ongoing detention, saying he posed a flight risk and could seek to destroy evidence, so Hironaka's bail request offered restrictions intended to win the court's trust.

The bail terms prevent Ghosn from leaving Japan and include other measures restricting his communications.

'The Razor'

Kyodo news agency said the measures will restrict Ghosn's cell phone use and allow him to access a computer only in his lawyer's office during daytime hours on weekdays.

He will also be banned from contacting Nissan executives and other people with links to the allegations against him, the agency reported.

But Kyodo said Ghosn could still attend board meetings at Nissan, where he remains a director if the court gives approval.

His former right-hand man Greg Kelly, who was also detained November 19 on allegations he helped under-report the tycoon's compensation, was freed on bail of 70 million yen ($635,000) on Christmas Day.

Ghosn's prolonged stay behind bars has come under fire internationally and from rights groups.

Speaking to AFP and the French daily Les Echos in January -- his only interview with foreign media so far -- Ghosn said his continued detention "would not be normal in any other democracy".

"Why am I being punished before being found guilty?" he asked.

Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge eventually levelled.

That means prosecutors could effectively prevent Ghosn from leaving detention despite Tuesday's bail decision if they level new allegations against him, restarting the 22-day detention clock.

In a shake-up of his legal team last month, Ghosn replaced a former prosecutor known as "The Breaker" with Hironaka, who has earned the nickname "The Acquitter" for his court record and "The Razor" for his mental sharpness.

Complex case

Speaking to reporters on Monday, Hironaka had vowed a "completely new legal strategy" to obtain his client's release, and experts said the change of tack appeared to be behind the surprise bail ruling.

"I think the content of the lawyer's application changed the situation," said Japanese lawyer Nobuo Gohara.

Nissan declined to comment on the bail decision, saying it was a matter for courts and prosecutors.

However, it said that an internal probe had "uncovered substantial evidence of blatantly unethical conduct" and that "further discoveries related to Ghosn's misconduct continue to emerge".

"The company's focus is firmly on addressing weaknesses in governance that failed to prevent this misconduct," it added in a statement.

A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault.

But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms.

Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span".

However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his release from a Tokyo detention centre after more than three months in custody.

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his release from a Tokyo detention centre after more than three months in custody. The auto tycoon is expected to walk out of the custody centre in northern Toyko after the court rejected a last-ditch appeal from prosecutors to block his release. Dozens of journalists gathered outside the jail in northern Tokyo from dawn on Wednesday, but prosecutors could still prevent the release by filing new allegations against Ghosn, who already faces three charges of financial misconduct. Overnight, he once again proclaimed his innocence of the charges, which include claims he under-reported his salary and sought to shift personal losses to Nissan's books. "I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," the 64-year-old said in a statement. Members of Ghosn's family were also seen entering the building prior to an expected release. The surprise court ruling granting Ghosn bail came after two unsuccessful previous attempts to win release and was the latest twist in a case that has gripped Japan and the business world since the auto industry titan's November 19 arrest. Ghosn shook up his legal team last month, hiring renowned defence attorney Junichiro Hironaka, who quickly filed a new bail request. The court had previously justified Ghosn's ongoing detention, saying he posed a flight risk and could seek to destroy evidence, so Hironaka's bail request offered restrictions intended to win the court's trust. The bail terms prevent Ghosn from leaving Japan and include other measures restricting his communications. 'The Razor' Kyodo news agency said the measures will restrict Ghosn's cell phone use and allow him to access a computer only in his lawyer's office during daytime hours on weekdays. He will also be banned from contacting Nissan executives and other people with links to the allegations against him, the agency reported. But Kyodo said Ghosn could still attend board meetings at Nissan, where he remains a director if the court gives approval. His former right-hand man Greg Kelly, who was also detained November 19 on allegations he helped under-report the tycoon's compensation, was freed on bail of 70 million yen ($635,000) on Christmas Day. Ghosn's prolonged stay behind bars has come under fire internationally and from rights groups. Speaking to AFP and the French daily Les Echos in January -- his only interview with foreign media so far -- Ghosn said his continued detention "would not be normal in any other democracy". "Why am I being punished before being found guilty?" he asked. Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge eventually levelled. That means prosecutors could effectively prevent Ghosn from leaving detention despite Tuesday's bail decision if they level new allegations against him, restarting the 22-day detention clock. In a shake-up of his legal team last month, Ghosn replaced a former prosecutor known as "The Breaker" with Hironaka, who has earned the nickname "The Acquitter" for his court record and "The Razor" for his mental sharpness. Complex case Speaking to reporters on Monday, Hironaka had vowed a "completely new legal strategy" to obtain his client's release, and experts said the change of tack appeared to be behind the surprise bail ruling. "I think the content of the lawyer's application changed the situation," said Japanese lawyer Nobuo Gohara. Nissan declined to comment on the bail decision, saying it was a matter for courts and prosecutors. However, it said that an internal probe had "uncovered substantial evidence of blatantly unethical conduct" and that "further discoveries related to Ghosn's misconduct continue to emerge". "The company's focus is firmly on addressing weaknesses in governance that failed to prevent this misconduct," it added in a statement. A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault. But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms. Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span". However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

Ex-Nissan chief Carlos Ghosn pays bail, set to leave Japan cell

<a href="http://www.wionews.com/world/tokyo-court-grants-ex-nissan-chief-carlos-ghosn-bail-201209">Carlos Ghosn was freed Wednesday</a> after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE.&nbsp;

The former Nissan&nbsp;chairman, who must stay in Japan after his release on nearly $9 million in bail, will live in a court-approved residence in Tokyo and prepare for a trial that could begin late this year.&nbsp;

At about 4:30 pm local time, Ghosn left the Tokyo Detention House wearing a mask often used by Japanese who have a cold, as well as a uniform with reflective strips like those used by highway workers. He climbed into a small Suzuki van, which drove out of the jail gates and onto the streets of Tokyo, where it was tracked by news helicopters.&nbsp;

Ghosn later got out of the van in central Tokyo to go to his lawyer's office, having shed his disguise and looking thinner than before his arrest but in generally good health, according to footage aired on Nippon TV.&nbsp;

Ghosn's wife, Carole, who arrived at the jail shortly before his release, left in a separate vehicle belonging to the French Embassy. Earlier, jail staff had loaded a Toyota van with an orange pillow, sheets and a mattress apparently used by Ghosn in jail.&nbsp;

The Tokyo District Court on Tuesday approved Ghosn's release after two previous bail requests were rejected. The decision came thanks to a new high-profile team of lawyers with significant defence experience and international criticism about Japan's treatment of criminal defendants.&nbsp;

Under the terms of his release, Ghosn cannot communicate with people overseas via phone or computer.&nbsp;

His release marks the end of a chapter in a case that began with his surprise arrest on November 19 shortly after his private jet arrived in Tokyo. Unbeknownst to Ghosn, Nissan executives and Tokyo prosecutors had been investigating him for months over allegations of financial misconduct.&nbsp;

The weeks following the arrest marked a brutal turnabout for the executive accustomed to roaming the world as the head of the alliance linking Nissan, Renault SA of France and Mitsubishi Motors Corp. of Japan. Living in a small cell at the Tokyo Detention House, he underwent hours of interrogation each day without his lawyer present. At his only public appearance during his detention, at a court hearing on January 8, he looked considerably thinner and his previously black hair was partly grey.&nbsp;

Ghosn lost his post as Nissan chairman three days after his arrest, and Mitsubishi also took away his chairman's title. In late January, Ghosn resigned as chairman and chief executive of Renault, his last executive posts. He remains a director at Nissan, but the company plans to strip him of that position as well in April.&nbsp;

Now that he is confined to Japan and no longer an auto executive, Ghosn is likely to spend the coming months preparing for his trial and making a public case for his innocence.&nbsp;

He kicked off the campaign with a statement Tuesday in which he thanked family and friends "who have stood by me throughout this terrible ordeal" and said he was "totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations."&nbsp;

Prosecutors have charged Ghosn with violating two Japanese laws, one governing corporate financial disclosures and the other barring corporate executives from abusing their positions for personal gain.&nbsp;

In the first category, prosecutors say Ghosn failed to include more than $80 million in compensation he was due after retirement in Nissan financial statements for eight fiscal years ending March 2018. The case hinges on whether the money was promised to Ghosn and fixed in each of those eight years--as prosecutors will seek to show--or was merely discussed in a hypothetical way, as Ghosn contends.&nbsp;

The second set of charges involves a personal derivatives contract that Ghosn says he made in the mid-2000s to protect himself against a fall in the Japanese yen since he was paid at Nissan in yen but had expenses in dollars.&nbsp;

When the yen rose during the 2008 global financial crisis, exposing him to possible losses, Ghosn says the company temporarily took his side of the contract under an arrangement that ensured any realized losses would be borne by Ghosn. Prosecutors allege that the arrangement, although temporary, amounted to Ghosn making the company take on potential risks that he should have borne personally.&nbsp;

Ghosn later took the contract back onto his personal books with help from a Saudi businessman whose company received $14.7 million in Nissan payments between 2009 and 2012. Prosecutors say Ghosn was in effect using Nissan money for his personal benefit, while Ghosn says the money that went to his Saudi friend's company was for legitimate Nissan business purposes.&nbsp;

Lawyers not involved in the case said it would be easier for Ghosn to prepare a defence now that he can freely meet with his lawyers and review documents about transactions that in some cases took place more than a decade ago.&nbsp;

"If he remains detained, the lawyers have to print out documents, go to the detention house and get approval to provide the papers to discuss with him. It's very time consuming," said Yoji Ochiai, a former prosecutor now in private practice.

Carlos Ghosn was freed Wednesday after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE.

Carlos Ghosn was freed Wednesday after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE. The former Nissan chairman, who must stay in Japan after his release on nearly $9 million in bail, will live in a court-approved residence in Tokyo and prepare for a trial that could begin late this year. At about 4:30 pm local time, Ghosn left the Tokyo Detention House wearing a mask often used by Japanese who have a cold, as well as a uniform with reflective strips like those used by highway workers. He climbed into a small Suzuki van, which drove out of the jail gates and onto the streets of Tokyo, where it was tracked by news helicopters. Ghosn later got out of the van in central Tokyo to go to his lawyer's office, having shed his disguise and looking thinner than before his arrest but in generally good health, according to footage aired on Nippon TV. Ghosn's wife, Carole, who arrived at the jail shortly before his release, left in a separate vehicle belonging to the French Embassy. Earlier, jail staff had loaded a Toyota van with an orange pillow, sheets and a mattress apparently used by Ghosn in jail. The Tokyo District Court on Tuesday approved Ghosn's release after two previous bail requests were rejected. The decision came thanks to a new high-profile team of lawyers with significant defence experience and international criticism about Japan's treatment of criminal defendants. Under the terms of his release, Ghosn cannot communicate with people overseas via phone or computer. His release marks the end of a chapter in a case that began with his surprise arrest on November 19 shortly after his private jet arrived in Tokyo. Unbeknownst to Ghosn, Nissan executives and Tokyo prosecutors had been investigating him for months over allegations of financial misconduct. The weeks following the arrest marked a brutal turnabout for the executive accustomed to roaming the world as the head of the alliance linking Nissan, Renault SA of France and Mitsubishi Motors Corp. of Japan. Living in a small cell at the Tokyo Detention House, he underwent hours of interrogation each day without his lawyer present. At his only public appearance during his detention, at a court hearing on January 8, he looked considerably thinner and his previously black hair was partly grey. Ghosn lost his post as Nissan chairman three days after his arrest, and Mitsubishi also took away his chairman's title. In late January, Ghosn resigned as chairman and chief executive of Renault, his last executive posts. He remains a director at Nissan, but the company plans to strip him of that position as well in April. Now that he is confined to Japan and no longer an auto executive, Ghosn is likely to spend the coming months preparing for his trial and making a public case for his innocence. He kicked off the campaign with a statement Tuesday in which he thanked family and friends "who have stood by me throughout this terrible ordeal" and said he was "totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations." Prosecutors have charged Ghosn with violating two Japanese laws, one governing corporate financial disclosures and the other barring corporate executives from abusing their positions for personal gain. In the first category, prosecutors say Ghosn failed to include more than $80 million in compensation he was due after retirement in Nissan financial statements for eight fiscal years ending March 2018. The case hinges on whether the money was promised to Ghosn and fixed in each of those eight years--as prosecutors will seek to show--or was merely discussed in a hypothetical way, as Ghosn contends. The second set of charges involves a personal derivatives contract that Ghosn says he made in the mid-2000s to protect himself against a fall in the Japanese yen since he was paid at Nissan in yen but had expenses in dollars. When the yen rose during the 2008 global financial crisis, exposing him to possible losses, Ghosn says the company temporarily took his side of the contract under an arrangement that ensured any realized losses would be borne by Ghosn. Prosecutors allege that the arrangement, although temporary, amounted to Ghosn making the company take on potential risks that he should have borne personally. Ghosn later took the contract back onto his personal books with help from a Saudi businessman whose company received $14.7 million in Nissan payments between 2009 and 2012. Prosecutors say Ghosn was in effect using Nissan money for his personal benefit, while Ghosn says the money that went to his Saudi friend's company was for legitimate Nissan business purposes. Lawyers not involved in the case said it would be easier for Ghosn to prepare a defence now that he can freely meet with his lawyers and review documents about transactions that in some cases took place more than a decade ago. "If he remains detained, the lawyers have to print out documents, go to the detention house and get approval to provide the papers to discuss with him. It's very time consuming," said Yoji Ochiai, a former prosecutor now in private practice.

Former Nissan chief Carlos Ghosn leaves Tokyo jail on bail after 3 and a half month detention

Ex-Nissan chief Carlos Ghosn granted bail by Tokyo Court

A Tokyo court on Tuesday granted ex-Nissan chief Carlos Ghosn bail in a shock decision that could see the auto tycoon freed after more than three months of detention.

The court set the bail at one billion yen ($9 million), but prosecutors are likely to appeal the decision and could even file additional allegations against Ghosn to keep him from leaving detention.

It was the latest twist in a case that has kept Japan and the business world gripped since the tycoon's shock arrest on November 19 over suspicions of financial misconduct.

The court has previously said Ghosn's continued detention was justified because he posed a flight risk and could seek to tamper with evidence.

Ghosn and his lawyers have argued that neither of those is the case, and he even offered to wear a tracking bracelet and hire guards to monitor his whereabouts, pledging to stay in Japan.

The surprise decision came after Ghosn's new lead defence lawyer, Junichiro Hironaka, told reporters he had filed a "convincing" application for bail that contained fresh elements.

Hironaka, who has a reputation for securing acquittals for high-profile clients in a country where almost all court cases end in conviction, offered greater surveillance of Ghosn and a limit on his electronic communications to win bail.

But the court had previously shown no inclination to end the lengthy pre-trial detention, which has drawn some criticism internationally and from rights groups.

Prosecutors have defended his detention while they investigate three charges of financial misconduct, two involving alleged under-reporting of his salary and a third over a complex scheme in which Ghosn allegedly sought to transfer his losses to Nissan's books.

And they are likely to appeal the bail decision, though the courts have previously ruled against the prosecutors when they sought to extend Ghosn's detention as allegations against him were being investigated.

Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge that is eventually levelled.

That means prosecutors could effectively prevent Ghosn from leaving detention despite today's bail decision if they level new allegations against him, starting the 22-day detention clock.

'Mediaeval rules'

On Monday, Ghosn's family said in a statement they would appeal to the United Nations Human Rights Council.

The family slammed Japan for its "mediaeval rules", in a statement read out by a lawyer representing Ghosn's wife Carole, who has previously described her husband's detention conditions as "deplorable".

The tycoon has denied all the allegations against him, and in an interview with AFP he slammed his continued detention.

"Why am I being punished before being found guilty?" Ghosn asked, speaking to AFP and the Les Echos daily in January from his detention centre.

The refusal to grant him bail "would not be normal in any other democracy", he said.

Ghosn's new lawyer Hironaka, who has earned the nickname "the acquitter" for his court record and the "razor" for his mental sharpness, vowed a "completely new legal strategy" to obtain his client's release.

Hironaka has also taken aim at Nissan, raising questions as to why the Japanese firm brought a case to prosecutors over incidents that allegedly took place more than 10 years ago.

A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault.

But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms.

Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span".

However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

A Tokyo court on Tuesday granted ex-Nissan chief Carlos Ghosn bail in a shock decision that could see the auto tycoon freed after more than three months of detention.

A Tokyo court on Tuesday granted ex-Nissan chief Carlos Ghosn bail in a shock decision that could see the auto tycoon freed after more than three months of detention. The court set the bail at one billion yen ($9 million), but prosecutors are likely to appeal the decision and could even file additional allegations against Ghosn to keep him from leaving detention. It was the latest twist in a case that has kept Japan and the business world gripped since the tycoon's shock arrest on November 19 over suspicions of financial misconduct. The court has previously said Ghosn's continued detention was justified because he posed a flight risk and could seek to tamper with evidence. Ghosn and his lawyers have argued that neither of those is the case, and he even offered to wear a tracking bracelet and hire guards to monitor his whereabouts, pledging to stay in Japan. The surprise decision came after Ghosn's new lead defence lawyer, Junichiro Hironaka, told reporters he had filed a "convincing" application for bail that contained fresh elements. Hironaka, who has a reputation for securing acquittals for high-profile clients in a country where almost all court cases end in conviction, offered greater surveillance of Ghosn and a limit on his electronic communications to win bail. But the court had previously shown no inclination to end the lengthy pre-trial detention, which has drawn some criticism internationally and from rights groups. Prosecutors have defended his detention while they investigate three charges of financial misconduct, two involving alleged under-reporting of his salary and a third over a complex scheme in which Ghosn allegedly sought to transfer his losses to Nissan's books. And they are likely to appeal the bail decision, though the courts have previously ruled against the prosecutors when they sought to extend Ghosn's detention as allegations against him were being investigated. Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge that is eventually levelled. That means prosecutors could effectively prevent Ghosn from leaving detention despite today's bail decision if they level new allegations against him, starting the 22-day detention clock. 'Mediaeval rules' On Monday, Ghosn's family said in a statement they would appeal to the United Nations Human Rights Council. The family slammed Japan for its "mediaeval rules", in a statement read out by a lawyer representing Ghosn's wife Carole, who has previously described her husband's detention conditions as "deplorable". The tycoon has denied all the allegations against him, and in an interview with AFP he slammed his continued detention. "Why am I being punished before being found guilty?" Ghosn asked, speaking to AFP and the Les Echos daily in January from his detention centre. The refusal to grant him bail "would not be normal in any other democracy", he said. Ghosn's new lawyer Hironaka, who has earned the nickname "the acquitter" for his court record and the "razor" for his mental sharpness, vowed a "completely new legal strategy" to obtain his client's release. Hironaka has also taken aim at Nissan, raising questions as to why the Japanese firm brought a case to prosecutors over incidents that allegedly took place more than 10 years ago. A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault. But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms. Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span". However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

Tokyo court grants ex-Nissan chief Carlos Ghosn bail on $9 million

Former Renault and Nissan head <a href="http://www.wionews.com/world/ghosns-chief-defence-attorney-motonari-otsuru-resigns-junichiro-hironaka-hired-in-change-of-strategy-197170">Carlos Ghosn</a> and his wife invited friends to a $260,000 Carnival party in Brazil last year and charged it to his employers, documents seen by AFP show, a move Ghosn's lawyer defended as a routine corporate function for a multinational CEO.

News of the party is the latest <a href="http://www.wionews.com/world/bail-refusal-would-not-be-normal-in-any-other-democracy-says-ghosn-194110">evidence of Ghosn's expensive lifestyle</a> to emerge as his time as one of the top executives in the auto industry faces fresh scrutiny following his arrest in Tokyo last November.

According to documents seen by AFP, which confirm a report in the Express magazine, Ghosn invited eight couples to watch the Carnival parade in Rio de Janeiro in February last year from a beach-side luxury hotel.

While the guests were asked to pay their own air fare, the invitations specified that local teams would take charge of transport, lodging and other expenses.

"On behalf of Mr and Mrs Ghosn, I have the pleasure to inform you that they would be delighted if you would accept to be their guest at the 2018 Rio Carnival," according to the December 2017 email invitation.

"You will be responsible to book your flight and the team will take care of you from the Rio airport," it said, adding that the guests would be staying at the beachside Hilton Hotel in Copacabana.

The event required costly security measures including two bullet-proof vehicles which were put at the guests' disposal.

Nissan's Brazilian subsidiary later sent a bill of $257,872 (around 227,000 euros at current exchange rates) to the Renault-Nissan holding company based in the Netherlands.

The Dutch firm coordinates the operations of the French-Japanese alliance, which Ghosn built into the world's top-selling automotive group before his stunning downfall on charges of under-reporting his salary.

The 64-year-old French-Brazilian-Lebanese executive has denied any wrongdoing but remains in detention awaiting a trial in Japan which could still be months away.

"Friendly relations do not preclude business relations, they can even help them," Ghosn's French lawyer Jean-Yves Le Borgne told AFP.

"We're told it involved Carlos Ghosn's personal relationships, but does that mean we can conclude there was some form of misuse of funds at the alliance?" he said.

Among the guests was Mario Saradar of the family-owned Lebanese banking group, where Ghosn sits on the board; and Misbah Ahdab, a Lebanese lawmaker.

American property developer Harry Macklowe was also invited, as was Khalil Daoud, head of the Lebanese postal service.

"Before getting indignant, we should check if they were truly not involved in any Renault-Nissan business," Le Borgne said, noting that the Lebanese post office "required a large fleet of automobiles."

Renault has said it is reviewing Ghosn's tenure as chief executive, a post he resigned last month following his dismissal as chairman of Nissan and their other alliance partner Mitsubishi.

Earlier this month, Renault said it had informed prosecutors about a suspect transaction involving Ghosn's extravagant wedding at the Versailles Palace outside Paris in 2016.

Versailles waived the usual 50,000-euro rental fee for the wedding under a sponsorship deal signed between the palace and Renault months before.

Le Borgne has said Ghosn is ready to repay the bill.

Former Renault and Nissan head Carlos Ghosn and his wife invited friends to a $260,000 Carnival party in Brazil last year and charged it to his employers, documents seen by AFP show, a move Ghosn's lawyer defended as a routine corporate function for a multinational CEO.

Former Renault and Nissan head Carlos Ghosn and his wife invited friends to a $260,000 Carnival party in Brazil last year and charged it to his employers, documents seen by AFP show, a move Ghosn's lawyer defended as a routine corporate function for a multinational CEO. News of the party is the latest evidence of Ghosn's expensive lifestyle to emerge as his time as one of the top executives in the auto industry faces fresh scrutiny following his arrest in Tokyo last November. According to documents seen by AFP, which confirm a report in the Express magazine, Ghosn invited eight couples to watch the Carnival parade in Rio de Janeiro in February last year from a beach-side luxury hotel. While the guests were asked to pay their own air fare, the invitations specified that local teams would take charge of transport, lodging and other expenses. "On behalf of Mr and Mrs Ghosn, I have the pleasure to inform you that they would be delighted if you would accept to be their guest at the 2018 Rio Carnival," according to the December 2017 email invitation. "You will be responsible to book your flight and the team will take care of you from the Rio airport," it said, adding that the guests would be staying at the beachside Hilton Hotel in Copacabana. The event required costly security measures including two bullet-proof vehicles which were put at the guests' disposal. Nissan's Brazilian subsidiary later sent a bill of $257,872 (around 227,000 euros at current exchange rates) to the Renault-Nissan holding company based in the Netherlands. The Dutch firm coordinates the operations of the French-Japanese alliance, which Ghosn built into the world's top-selling automotive group before his stunning downfall on charges of under-reporting his salary. The 64-year-old French-Brazilian-Lebanese executive has denied any wrongdoing but remains in detention awaiting a trial in Japan which could still be months away. "Friendly relations do not preclude business relations, they can even help them," Ghosn's French lawyer Jean-Yves Le Borgne told AFP. "We're told it involved Carlos Ghosn's personal relationships, but does that mean we can conclude there was some form of misuse of funds at the alliance?" he said. Among the guests was Mario Saradar of the family-owned Lebanese banking group, where Ghosn sits on the board; and Misbah Ahdab, a Lebanese lawmaker. American property developer Harry Macklowe was also invited, as was Khalil Daoud, head of the Lebanese postal service. "Before getting indignant, we should check if they were truly not involved in any Renault-Nissan business," Le Borgne said, noting that the Lebanese post office "required a large fleet of automobiles." Renault has said it is reviewing Ghosn's tenure as chief executive, a post he resigned last month following his dismissal as chairman of Nissan and their other alliance partner Mitsubishi. Earlier this month, Renault said it had informed prosecutors about a suspect transaction involving Ghosn's extravagant wedding at the Versailles Palace outside Paris in 2016. Versailles waived the usual 50,000-euro rental fee for the wedding under a sponsorship deal signed between the palace and Renault months before. Le Borgne has said Ghosn is ready to repay the bill.

Carlos Ghosn held $260,000 Rio party billed to Renault-Nissan: Report

Carlos Ghosn's chief defence attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest.

Ghosn, <a href="http://www.wionews.com/world/bail-refusal-would-not-be-normal-in-any-other-democracy-says-ghosn-194110">Nissan's one-time saviour</a>, has been held in detention since his November 19 arrest and indicted for under-reporting his salary and breach of trust. He has denied the charges.

The once-feted auto executive hired Hiroshi Kawatsu as head of a new defence team, his office said on Wednesday.

Hironaka, 73, has won several high profile cases, helping acquit senior lawmaker Ichiro Ozawa and senior bureaucrat Atsuko Muraki.

Hiring Hironaka would mean a more aggressive legal strategy, said Nobuo Gohara, a former prosecutor. Otsuru previously led the special prosecutors' office that is now handling Ghosn's case.

"Otsuru was miscast. He worked at the heart of the special prosecutor's office so he was not someone who was going to go after them aggressively," Gohara said. "Hironaka is an experienced defence lawyer who has won a number of cases. He will mount a more thorough and aggressive defence."

Otsuru's office confirmed his resignation in a statement but gave no reason for the move. A second member of Ghosn's defence team, Masato Oshikubo, had quit, it said. Go Kondo, Ghosn's third defence lawyer, was unavailable for comment.

Ghosn released a short statement thanking Otsuru for his team's "tireless and diligent work", and called him a "very capable and intelligent man and lawyer".

The sudden change in attorneys comes ahead of the expected start of informal meetings with prosecutors and judges to discuss pretrial preparations, an indication that there will be no new charges against Ghosn.

"As we begin the trial phase, I have decided to engage Hironaka-sensei as my legal counsel," Ghosn said, using an honorific suffix. "I look forward to defending myself vigorously, and this represents the beginning of the process of not only establishing my innocence but also shedding light on the circumstances that led to my unjust detention."

Ghosn, 64, told the Nikkei newspaper last month that Nissan executives opposed to his plans for closer ties with automaking partner Renault SA plotted to remove him.

Ghosn was widely credited with rescuing Nissan from near-bankruptcy after he was brought over to Japan in 1999 by Renault after the French automaker bought a chunk of Nissan.

Since his arrest, Ghosn has resigned as chairman of Renault and been sacked as chief of Nissan and Mitsubishi Motors, the three-way alliance he once captained.

The scandal has roiled the global car industry and created tension between Nissan and Renault.

Nissan CEO Hiroto Saikawa is scheduled to meet newly appointed Renault Chairman Jean-Dominique Senard on Thursday in Japan as they look at ways to cement their partnership.

Carlos Ghosn's chief defence attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest.

Carlos Ghosn's chief defence attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest. Ghosn, Nissan's one-time saviour, has been held in detention since his November 19 arrest and indicted for under-reporting his salary and breach of trust. He has denied the charges. The once-feted auto executive hired Hiroshi Kawatsu as head of a new defence team, his office said on Wednesday. Hironaka, 73, has won several high profile cases, helping acquit senior lawmaker Ichiro Ozawa and senior bureaucrat Atsuko Muraki. Hiring Hironaka would mean a more aggressive legal strategy, said Nobuo Gohara, a former prosecutor. Otsuru previously led the special prosecutors' office that is now handling Ghosn's case. "Otsuru was miscast. He worked at the heart of the special prosecutor's office so he was not someone who was going to go after them aggressively," Gohara said. "Hironaka is an experienced defence lawyer who has won a number of cases. He will mount a more thorough and aggressive defence." Otsuru's office confirmed his resignation in a statement but gave no reason for the move. A second member of Ghosn's defence team, Masato Oshikubo, had quit, it said. Go Kondo, Ghosn's third defence lawyer, was unavailable for comment. Ghosn released a short statement thanking Otsuru for his team's "tireless and diligent work", and called him a "very capable and intelligent man and lawyer". The sudden change in attorneys comes ahead of the expected start of informal meetings with prosecutors and judges to discuss pretrial preparations, an indication that there will be no new charges against Ghosn. "As we begin the trial phase, I have decided to engage Hironaka-sensei as my legal counsel," Ghosn said, using an honorific suffix. "I look forward to defending myself vigorously, and this represents the beginning of the process of not only establishing my innocence but also shedding light on the circumstances that led to my unjust detention." Ghosn, 64, told the Nikkei newspaper last month that Nissan executives opposed to his plans for closer ties with automaking partner Renault SA plotted to remove him. Ghosn was widely credited with rescuing Nissan from near-bankruptcy after he was brought over to Japan in 1999 by Renault after the French automaker bought a chunk of Nissan. Since his arrest, Ghosn has resigned as chairman of Renault and been sacked as chief of Nissan and Mitsubishi Motors, the three-way alliance he once captained. The scandal has roiled the global car industry and created tension between Nissan and Renault. Nissan CEO Hiroto Saikawa is scheduled to meet newly appointed Renault Chairman Jean-Dominique Senard on Thursday in Japan as they look at ways to cement their partnership.

Ghosn's chief defence attorney Motonari Otsuru resigns; Junichiro Hironaka hired in change of strategy

Nissan Motor estimates that 9.2 billion yen ($83.24 million) was paid to the company's former president, <a href="http://www.wionews.com/world/carlos-ghosn-resigned-from-renault-on-january-22-192422">Carlos Ghosn</a>, the current president and CEO of the Japanese automobile manufacturer said on Tuesday.

Ghosn is currently in prison charged with underreporting his income for eight years.

Nissan President and CEO Hiroto Saikawa, speaking at a press conference where he presented the company's financial results for the last nine months of 2018, said the figures involving Ghosn were a conservative estimate.

Nissan decided to take into account these alleged payments accorded with<a href="http://www.wionnews.com/world/carlos-ghosn-resigned-from-renault-on-january-22-192422"> Ghosn </a>despite still not having settled the amount, which could vary, depending on the results of the investigations of the public prosecutor's office and the authorities to determine the exact sum, according to the firm's Chief Financial Officer Hiroshi Karube.

<a href="http://www.wionews.com/world/japan-court-rejects-nissan-boss-carlos-ghosns-release-bid-189183">Ghosn has been in prison</a> in Tokyo since November 19, 2019, accused of not declaring a part of his income from Nissan Motor between 2011 and 2018.

The 64-year-old is also accused of having violated a Japanese business regulation by using Nissan to cover a series of personal financial losses during the 2008 crisis, and of making allegedly unjustified payments to a Saudi businessman.

Nissan replaced Ghosn with Saikawa as president, and Renault soon followed suit, replacing him with Jean-Dominique Senard as president.

Senard is scheduled to visit Tokyo this week and meet with Saikawa, who on Tuesday reiterated his willingness to work with the French executive.

Saikawa said that he hoped to further develop their alliance, and said he hoped to discuss and revise the existing Renault-Nissan and Mitsubishi alliance.

He said first he wanted to create trust and good communications between their operational teams, while also underlining the need to avoid granting excessive power to the leader of the alliance.

On being asked about his responsibility in the alleged irregularities by Ghosn, whom he worked with for a decade, Saikawa said he and other executives felt responsible for not having discovered it or not having stopped it.

The CEO of the Japanese company said they had to secure the future of their firm and the need to focus on managing the current situation and chart Nissan's course.

Nissan Motor estimates that 9.2 billion yen ($83.24 million) was paid to the company's former president, Carlos Ghosn, the current president and CEO of the Japanese automobile manufacturer said on Tuesday.

Nissan Motor estimates that 9.2 billion yen ($83.24 million) was paid to the company's former president, Carlos Ghosn, the current president and CEO of the Japanese automobile manufacturer said on Tuesday. Ghosn is currently in prison charged with underreporting his income for eight years. Nissan President and CEO Hiroto Saikawa, speaking at a press conference where he presented the company's financial results for the last nine months of 2018, said the figures involving Ghosn were a conservative estimate. Nissan decided to take into account these alleged payments accorded with Ghosn despite still not having settled the amount, which could vary, depending on the results of the investigations of the public prosecutor's office and the authorities to determine the exact sum, according to the firm's Chief Financial Officer Hiroshi Karube. Ghosn has been in prison in Tokyo since November 19, 2019, accused of not declaring a part of his income from Nissan Motor between 2011 and 2018. The 64-year-old is also accused of having violated a Japanese business regulation by using Nissan to cover a series of personal financial losses during the 2008 crisis, and of making allegedly unjustified payments to a Saudi businessman. Nissan replaced Ghosn with Saikawa as president, and Renault soon followed suit, replacing him with Jean-Dominique Senard as president. Senard is scheduled to visit Tokyo this week and meet with Saikawa, who on Tuesday reiterated his willingness to work with the French executive. Saikawa said that he hoped to further develop their alliance, and said he hoped to discuss and revise the existing Renault-Nissan and Mitsubishi alliance. He said first he wanted to create trust and good communications between their operational teams, while also underlining the need to avoid granting excessive power to the leader of the alliance. On being asked about his responsibility in the alleged irregularities by Ghosn, whom he worked with for a decade, Saikawa said he and other executives felt responsible for not having discovered it or not having stopped it. The CEO of the Japanese company said they had to secure the future of their firm and the need to focus on managing the current situation and chart Nissan's course.

Nissan says undeclared payments by Ghosn total over $83 million

<a href="http://www.wionews.com/world/tokyo-court-denies-the-request-for-carlos-ghosns-release-on-bail-190413">Former Nissan chief Carlos Ghosn</a> slammed his ongoing detention in Japan Thursday, telling AFP and a French newspaper the decision to refuse him bail "would not be normal in any other democracy."

"Why am I being punished before being found guilty?" Ghosn asked, speaking to AFP and the Les Echos daily in his first interview with foreign media since his shock November 19 arrest.

Ghosn, who is being held at a Tokyo detention centre on three charges of financial misconduct, said his arrest was "a story of betrayal".

"There is no question about this," he said, speaking firmly and clearly in English, dressed in a black tracksuit and plastic sandals.

"I have in front of me an army at Nissan, more than hundreds of people are dedicated to the case, 70 people at the prosecutor's office, and I am being left in prison for more than 70 days," he added.

"No phone, no computer... how can I defend myself?"

The 64-year-old Franco-Brazilian-Lebanese tycoon said he was the victim of a "plot" caused by opposition to his plans to more fully integrate the auto alliance he led of Nissan, Mitsubishi Motors and France's Renault.

And he said Nissan was trying to "destroy my reputation."&nbsp;

"I have an army of people throwing trash at me every day," he said.

"There are not only allegations of the prosecutors, but also those of Nissan. They take a lot of facts out of their context. It is a distortion of reality to destroy my reputation."

A Nissan spokesman said the company had "uncovered substantial and convincing evidence of misconduct."

"The sole cause of this chain of events is the misconduct led by Ghosn and (right-hand man Greg) Kelly."

'No sense of time' 
&nbsp; 
Once feted in Japan for his role in turning around Nissan, Ghosn has gone from flying around the world in a private jet to a cell in Tokyo's Kosuge detention centre.

He spoke without emotion but said it was "very hard" to be unable to speak with his family.

"Since November 19, I could not even call my wife Carole, my children," he said.

He said the lights were on even at night, and with no watch or clock, he had "no sense of time".

"I have only 30 minutes to go outside on the roof. I'm craving for fresh air. Yes, I am strong, but obviously, I am tired."

Nonetheless, Ghosn, speaking from behind a window and flanked by two guards, did not appear noticeably gaunt and walked confidently into the room.&nbsp;

Japanese authorities did not permit any cameras or recording equipment to be used during the interview.

Ghosn has only been seen in public once since his arrest, during a January 8 court appearance where he denied any wrongdoing.

He faces three charges of financial misconduct, including claims he under-reported his salary, tried to shift personal losses onto Nissan's books and used company funds to compensate a friend.

He denies any wrongdoing and repeated Thursday that "there is not one yen that I have received that was not reported".

The court has judged Ghosn a flight risk who could tamper with evidence if freed, and his own lawyer has acknowledged the tycoon is unlikely to win bail before a trial, which could take at least six months.

He has pledged to stay in Japan, wear a tracking device and even hire guards of the court's choosing, but to no avail.

"I have done everything I can to show I can't flee, to reassure them I would not destroy any evidence," he said Thursday.

'Resistance from the beginning'&nbsp;

Ghosn's arrest has laid bare tensions in the alliance he forged and led among Nissan, Mitsubishi Motors and French automaker Renault.

While the Japanese firms moved quickly to oust Ghosn from leadership positions, Renault was more cautious about the allegations against him, and he resigned before a board meeting to discuss removing him there.

Renault currently owns 43 per cent of Nissan, which itself has a 15 per cent stake in the French company.

But Nissan overtook its French partner compared to when the alliance was created and Ghosn said he believed his attempts to further integrate the alliance prompted a backlash among the Japanese firm's executives that resulted in his arrest.

"There was resistance from the beginning," he said.

During his sole court appearance, Ghosn spoke fondly of Nissan, and he said that affection endured despite his situation.

"I love Japan, I love Nissan. I have dedicated so many years to revive the company, to rebuild it again," he said.

"I have nothing against the company."

Former Nissan chief Carlos Ghosn slammed his ongoing detention in Japan Thursday, telling AFP and a French newspaper the decision to refuse him bail "would not be normal in any other democracy.

Former Nissan chief Carlos Ghosn slammed his ongoing detention in Japan Thursday, telling AFP and a French newspaper the decision to refuse him bail "would not be normal in any other democracy." "Why am I being punished before being found guilty?" Ghosn asked, speaking to AFP and the Les Echos daily in his first interview with foreign media since his shock November 19 arrest. Ghosn, who is being held at a Tokyo detention centre on three charges of financial misconduct, said his arrest was "a story of betrayal". "There is no question about this," he said, speaking firmly and clearly in English, dressed in a black tracksuit and plastic sandals. "I have in front of me an army at Nissan, more than hundreds of people are dedicated to the case, 70 people at the prosecutor's office, and I am being left in prison for more than 70 days," he added. "No phone, no computer... how can I defend myself?" The 64-year-old Franco-Brazilian-Lebanese tycoon said he was the victim of a "plot" caused by opposition to his plans to more fully integrate the auto alliance he led of Nissan, Mitsubishi Motors and France's Renault. And he said Nissan was trying to "destroy my reputation." "I have an army of people throwing trash at me every day," he said. "There are not only allegations of the prosecutors, but also those of Nissan. They take a lot of facts out of their context. It is a distortion of reality to destroy my reputation." A Nissan spokesman said the company had "uncovered substantial and convincing evidence of misconduct." "The sole cause of this chain of events is the misconduct led by Ghosn and (right-hand man Greg) Kelly." 'No sense of time' Once feted in Japan for his role in turning around Nissan, Ghosn has gone from flying around the world in a private jet to a cell in Tokyo's Kosuge detention centre. He spoke without emotion but said it was "very hard" to be unable to speak with his family. "Since November 19, I could not even call my wife Carole, my children," he said. He said the lights were on even at night, and with no watch or clock, he had "no sense of time". "I have only 30 minutes to go outside on the roof. I'm craving for fresh air. Yes, I am strong, but obviously, I am tired." Nonetheless, Ghosn, speaking from behind a window and flanked by two guards, did not appear noticeably gaunt and walked confidently into the room. Japanese authorities did not permit any cameras or recording equipment to be used during the interview. Ghosn has only been seen in public once since his arrest, during a January 8 court appearance where he denied any wrongdoing. He faces three charges of financial misconduct, including claims he under-reported his salary, tried to shift personal losses onto Nissan's books and used company funds to compensate a friend. He denies any wrongdoing and repeated Thursday that "there is not one yen that I have received that was not reported". The court has judged Ghosn a flight risk who could tamper with evidence if freed, and his own lawyer has acknowledged the tycoon is unlikely to win bail before a trial, which could take at least six months. He has pledged to stay in Japan, wear a tracking device and even hire guards of the court's choosing, but to no avail. "I have done everything I can to show I can't flee, to reassure them I would not destroy any evidence," he said Thursday. 'Resistance from the beginning' Ghosn's arrest has laid bare tensions in the alliance he forged and led among Nissan, Mitsubishi Motors and French automaker Renault. While the Japanese firms moved quickly to oust Ghosn from leadership positions, Renault was more cautious about the allegations against him, and he resigned before a board meeting to discuss removing him there. Renault currently owns 43 per cent of Nissan, which itself has a 15 per cent stake in the French company. But Nissan overtook its French partner compared to when the alliance was created and Ghosn said he believed his attempts to further integrate the alliance prompted a backlash among the Japanese firm's executives that resulted in his arrest. "There was resistance from the beginning," he said. During his sole court appearance, Ghosn spoke fondly of Nissan, and he said that affection endured despite his situation. "I love Japan, I love Nissan. I have dedicated so many years to revive the company, to rebuild it again," he said. "I have nothing against the company."

Bail refusal would not be normal in any other democracy: Ghosn

Carlos Ghosn may no longer be in the driver's seat at Renault, but he will remain at the centre of vigorous negotiations in the coming weeks over severance pay potentially worth tens of millions of euros.

The French government, which owns 15 per cent of the carmaker and 22 per cent of voting rights, has already warned it doesn't intend to let the former CEO walk away with the kind of lavish payouts that he is accustomed to.

"I can tell you we will be extremely vigilant, as the largest shareholder, over the exit conditions that will be set by the board," Finance Minister Bruno Le Maire told AFP at the World Economic Forum in Switzerland this week.

Ghosn had already raised hackles in France as one of its highest-paid business chiefs, and a huge payout for an executive sitting in a Tokyo jail wouldn't go down well amid the "yellow vest" protests over declining living standards.

The 64-year-old Franco-Brazilian-Lebanese executive was arrested in November on charges of under-reporting tens of millions of dollars in income over eight years as head of Renault's alliance partner Nissan.

He has denied that and other financial misconduct claims and his trial may still be months away.

He tendered his resignation at Renault this week, having already been sacked as chairman of Nissan and the third carmaker in the alliance, Mitsubishi.

But his eventual payout was not discussed by Renault directors when they met Thursday to name his replacements, Thierry Bollore as chief executive and Jean-Dominique Senard as board chairman.

"If his payout is being discussed later, it's because his resignation was immediate and not negotiated," said Loic Dessaint of the Proxinvest shareholder advisory group.

"That's rare," Dessaint said, suggesting that by doing so, Ghosn was hoping to benefit immediately from any pre-discussed "golden handshake".

"But Renault also has a strong hand to play, because it can file a lawsuit and claim damages" against its former chief if he is found guilty in the Nissan case, he said.

25 million euro question

As with most CEOs, Ghosn's pay was a mix of fixed payouts coupled with performance-linked stock grants and cash top-ups.

In 2016 the executive known as a "cost-killer" for slashing outlays and jobs took home a combined 15.4 million euros ($17.6 million) from his roles at Renault, Nissan and Mitsubishi.

Seven million euros came from Renault alone, drawing the ire of French officials, and last February Ghosn was forced to accept a 30 per cent pay cut in order to secure another four-year mandate as CEO.

According to the automaker's annual report, Ghosn's resignation means he must forfeit any shares granted for meeting performance milestones.

"But what counts is what they will decide about shares already attributed but not yet awarded," said Dessaint, saying Ghosn could claim a trove of 380,000 shares currently worth some 21 million euros.

"It's the same story with deferred stock grants, worth four to five million euros," he calculates.

Company officials have refused to comment on the eventual indemnities.

But a source close to the matter said that given the circumstances of Ghosn's exit, "we're going to reduce them as much as we can".

'Stupid to pay'

Even if an agreement is reached on the standard retirement package, lawyers will still be wrangling over two other multi-million-euro questions.

The first involves a non-compete clause that provides two years of total pay -- both fixed and variable -- in exchange for not joining another carmaker.

"Renault would be pretty stupid to pay," Dessaint said, "because the risk is basically nil since he's in prison".

Ghosn's lawyers have lost two requests for bail, and under Japanese legal rules he could remain behind bars for months before his trial even opens.

The second bone of contention involves a retirement pension that would be payable each year to Ghosn until his death.

According to Dessaint, Ghosn is eligible to receive 765,000 euros a year after leading Renault since 2005, forging an alliance which sold more cars than any of its rivals last year.

Carlos Ghosn may no longer be in the driver's seat at Renault, but he will remain at the centre of vigorous negotiations in the coming weeks over severance pay potentially worth tens of millions of euros.

Carlos Ghosn may no longer be in the driver's seat at Renault, but he will remain at the centre of vigorous negotiations in the coming weeks over severance pay potentially worth tens of millions of euros. The French government, which owns 15 per cent of the carmaker and 22 per cent of voting rights, has already warned it doesn't intend to let the former CEO walk away with the kind of lavish payouts that he is accustomed to. "I can tell you we will be extremely vigilant, as the largest shareholder, over the exit conditions that will be set by the board," Finance Minister Bruno Le Maire told AFP at the World Economic Forum in Switzerland this week. Ghosn had already raised hackles in France as one of its highest-paid business chiefs, and a huge payout for an executive sitting in a Tokyo jail wouldn't go down well amid the "yellow vest" protests over declining living standards. The 64-year-old Franco-Brazilian-Lebanese executive was arrested in November on charges of under-reporting tens of millions of dollars in income over eight years as head of Renault's alliance partner Nissan. He has denied that and other financial misconduct claims and his trial may still be months away. He tendered his resignation at Renault this week, having already been sacked as chairman of Nissan and the third carmaker in the alliance, Mitsubishi. But his eventual payout was not discussed by Renault directors when they met Thursday to name his replacements, Thierry Bollore as chief executive and Jean-Dominique Senard as board chairman. "If his payout is being discussed later, it's because his resignation was immediate and not negotiated," said Loic Dessaint of the Proxinvest shareholder advisory group. "That's rare," Dessaint said, suggesting that by doing so, Ghosn was hoping to benefit immediately from any pre-discussed "golden handshake". "But Renault also has a strong hand to play, because it can file a lawsuit and claim damages" against its former chief if he is found guilty in the Nissan case, he said. 25 million euro question As with most CEOs, Ghosn's pay was a mix of fixed payouts coupled with performance-linked stock grants and cash top-ups. In 2016 the executive known as a "cost-killer" for slashing outlays and jobs took home a combined 15.4 million euros ($17.6 million) from his roles at Renault, Nissan and Mitsubishi. Seven million euros came from Renault alone, drawing the ire of French officials, and last February Ghosn was forced to accept a 30 per cent pay cut in order to secure another four-year mandate as CEO. According to the automaker's annual report, Ghosn's resignation means he must forfeit any shares granted for meeting performance milestones. "But what counts is what they will decide about shares already attributed but not yet awarded," said Dessaint, saying Ghosn could claim a trove of 380,000 shares currently worth some 21 million euros. "It's the same story with deferred stock grants, worth four to five million euros," he calculates. Company officials have refused to comment on the eventual indemnities. But a source close to the matter said that given the circumstances of Ghosn's exit, "we're going to reduce them as much as we can". 'Stupid to pay' Even if an agreement is reached on the standard retirement package, lawyers will still be wrangling over two other multi-million-euro questions. The first involves a non-compete clause that provides two years of total pay -- both fixed and variable -- in exchange for not joining another carmaker. "Renault would be pretty stupid to pay," Dessaint said, "because the risk is basically nil since he's in prison". Ghosn's lawyers have lost two requests for bail, and under Japanese legal rules he could remain behind bars for months before his trial even opens. The second bone of contention involves a retirement pension that would be payable each year to Ghosn until his death. According to Dessaint, Ghosn is eligible to receive 765,000 euros a year after leading Renault since 2005, forging an alliance which sold more cars than any of its rivals last year.

First challenge for Renault's new chiefs: Ghosn's payout

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.

"Carlos Ghosn just resigned last night," said Le Maire.

Renault's board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn's arrest in Japan for alleged financial misconduct.

The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn's deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters.

The Tokyo District Court on January 15 denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust.

Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos. "Carlos Ghosn just resigned last night," said Le Maire. Renault's board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn's arrest in Japan for alleged financial misconduct. The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn's deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters. The Tokyo District Court on January 15 denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust. Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

Carlos Ghosn resigned from Renault on January 22

Arrested car boss Carlos Ghosn resigned his position as chief executive and chairman of Renault, ending his leadership roles in the auto industry and signalling the start of new era for the French manufacturer.

Ghosn, the most powerful man in car-making until his sensational arrest in Japan last November on financial misconduct charges, had already been sacked as chairman of Japanese auto groups Nissan and Mitsubishi.&nbsp;

But the 64-year-old had held on to the top job at Renault, which has been run on an interim basis by one of his deputies while he languishes in a Japanese jail.

French Finance Minister Bruno Le Maire confirmed that Ghosn tendered his resignation late Wednesday -- ahead of a Renault board meeting in Paris that would have seen him replaced.

A senior director from the firm "received last night the letter of resignation from Carlos Ghosn," Le Maire said.

As head of Renault since 2005, Ghosn was the keystone of its alliance with Nissan and Mitsubishi, forging an industry powerhouse which together sold more cars than any of its rivals last year.

But his career came screeching to a halt when Tokyo police arrested him on suspicion of under-reporting millions of dollars in income over eight years.

Ghosn has denied the charges, but with his release from jail unlikely anytime soon -- his trial has yet to open -- Renault's board was preparing to name new directors.

The company's board is widely expected to name interim chief executive Thierry Bollore as CEO, and Michelin head Jean-Dominique Senard as its chairman -- both roles were previously held by Ghosn.&nbsp;

A board meeting is scheduled for 10:00 am (0900 GMT) at the company's headquarters outside Paris.

Nissan said separately that it would hold an extraordinary shareholders' meeting by mid-April to remove Ghosn from its board, having already stripped the Franco-Lebanese-Brazilian executive of the chairmanship.

"The agenda is to be limited to the discharge of directors Carlos Ghosn and (right-hand man) Greg Kelly, and the appointment of a new director to be nominated by Renault," it said.

Arrested car boss Carlos Ghosn resigned his position as chief executive and chairman of Renault, ending his leadership roles in the auto industry and signalling the start of new era for the French manufacturer.

Arrested car boss Carlos Ghosn resigned his position as chief executive and chairman of Renault, ending his leadership roles in the auto industry and signalling the start of new era for the French manufacturer. Ghosn, the most powerful man in car-making until his sensational arrest in Japan last November on financial misconduct charges, had already been sacked as chairman of Japanese auto groups Nissan and Mitsubishi. But the 64-year-old had held on to the top job at Renault, which has been run on an interim basis by one of his deputies while he languishes in a Japanese jail. French Finance Minister Bruno Le Maire confirmed that Ghosn tendered his resignation late Wednesday -- ahead of a Renault board meeting in Paris that would have seen him replaced. A senior director from the firm "received last night the letter of resignation from Carlos Ghosn," Le Maire said. As head of Renault since 2005, Ghosn was the keystone of its alliance with Nissan and Mitsubishi, forging an industry powerhouse which together sold more cars than any of its rivals last year. But his career came screeching to a halt when Tokyo police arrested him on suspicion of under-reporting millions of dollars in income over eight years. Ghosn has denied the charges, but with his release from jail unlikely anytime soon -- his trial has yet to open -- Renault's board was preparing to name new directors. The company's board is widely expected to name interim chief executive Thierry Bollore as CEO, and Michelin head Jean-Dominique Senard as its chairman -- both roles were previously held by Ghosn. A board meeting is scheduled for 10:00 am (0900 GMT) at the company's headquarters outside Paris. Nissan said separately that it would hold an extraordinary shareholders' meeting by mid-April to remove Ghosn from its board, having already stripped the Franco-Lebanese-Brazilian executive of the chairmanship. "The agenda is to be limited to the discharge of directors Carlos Ghosn and (right-hand man) Greg Kelly, and the appointment of a new director to be nominated by Renault," it said.

Ghosn resigns as Renault boss as French group enters new era 

<a href="http://www.wionews.com/world/ghosn-vows-to-stay-in-japan-if-granted-bail-191701">Carlos Ghosn</a> is likely to remain in Japanese custody for the foreseeable future after a <a href="http://www.wionews.com/world/ghosn-appeals-against-japan-bail-rejection-190912">Tokyo court denied</a> him bail Tuesday despite a last-ditch personal appeal by the former Nissan boss.

The decision was expected as the court had previously judged him to be a flight risk who could potentially tamper with evidence. Even Ghosn's own lawyer has said his client will likely remain in jail until his trial.

But ever since his arrest out of the blue on November 19 on allegations of financial misconduct, Ghosn's case has been a rollercoaster ride that has kept Japan and the business world gripped.

A public pledge by the auto tycoon to stay in Japan and wear an electronic tag if necessary appears to have left the Tokyo District Court unmoved. In a public statement on Monday, Ghosn had set out a series of steps he hoped would convince the court he was not about to flee Japan.

He vowed to hand over his three passports, wear an electronic tagging device and increased the amount of bail money offered.

Ghosn also promised to hire security guards approved by prosecutors to monitor him and said he would not contact anyone connected with the case.

"As the court considers my bail application, I want to emphasise that I will reside in Japan and respect any and all bail conditions the court concludes are warranted," Ghosn said in a statement released by his US-based representatives.

He vowed to attend any subsequent trial "not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself".

"I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom," concluded the statement.

However, an official at the Japanese justice ministry told AFP: "There is no system in Japan in which a person accused in a criminal case can be released with such a tracking bracelet." "The court sets the bail sum and can also add appropriate conditions such as limitations on where the accused should stay," added the official.

Ghosn was technically in pre-trial detention after being slapped with three separate charges - all of which he denies.

Prosecutors believe he under-declared his income in official statements to shareholders between 2010 and 2015 to the tune of some five billion yen ($46 million) in an apparent attempt to avoid accusations he was overpaid. 
A second separate but very similar charge is that he continued to do this between 2015 and 2018, under-reporting his income by a further four billion yen.

He also faces a complex charge of seeking to shift personal investment losses onto Nissan's books and transferring company funds to a Saudi contact who allegedly stumped up collateral for him.

Since his arrest, he has been seen in public only once, in a dramatic court appearance where the much thinner executive pleaded his innocence in a packed courtroom.

His wife Carole has appealed to Human Rights Watch, claiming he is being held in "harsh" conditions and subjected to round-the-clock interrogations intended to extract a confession.

Ghosn's arrest has thrown into question the future of the auto alliance he forged, which has come under pressure in his absence. Nissan immediately ousted him as chairman after the arrest, as did Mitsubishi Motors, the other Japanese firm in the three-way alliance with Renault.

The French firm is expected to meet later this week to discuss removing Ghosn as chairman and CEO. French government officials have already urged the company's board to pick a "new lasting leadership".

Late Sunday, Nissan held an inaugural meeting of a special committee designed to improve governance in the wake of the scandal.

The head of the committee, Seiichiro Nishioka, said the problem was "an excessive concentration of authority in the hands of a single person".

The committee is expected to meet three or four additional times before issuing a final report at the end of March.

French Economy Minister Bruno Le Maire on Sunday denied talk of a potential merger between Renault and Nissan, despite reports in the Japanese media that Paris was pushing for that outcome.&nbsp;

Carlos Ghosn is likely to remain in Japanese custody for the foreseeable future after a Tokyo court denied him bail Tuesday despite a last-ditch personal appeal by the former Nissan boss.

Carlos Ghosn is likely to remain in Japanese custody for the foreseeable future after a Tokyo court denied him bail Tuesday despite a last-ditch personal appeal by the former Nissan boss. The decision was expected as the court had previously judged him to be a flight risk who could potentially tamper with evidence. Even Ghosn's own lawyer has said his client will likely remain in jail until his trial. But ever since his arrest out of the blue on November 19 on allegations of financial misconduct, Ghosn's case has been a rollercoaster ride that has kept Japan and the business world gripped. A public pledge by the auto tycoon to stay in Japan and wear an electronic tag if necessary appears to have left the Tokyo District Court unmoved. In a public statement on Monday, Ghosn had set out a series of steps he hoped would convince the court he was not about to flee Japan. He vowed to hand over his three passports, wear an electronic tagging device and increased the amount of bail money offered. Ghosn also promised to hire security guards approved by prosecutors to monitor him and said he would not contact anyone connected with the case. "As the court considers my bail application, I want to emphasise that I will reside in Japan and respect any and all bail conditions the court concludes are warranted," Ghosn said in a statement released by his US-based representatives. He vowed to attend any subsequent trial "not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself". "I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom," concluded the statement. However, an official at the Japanese justice ministry told AFP: "There is no system in Japan in which a person accused in a criminal case can be released with such a tracking bracelet." "The court sets the bail sum and can also add appropriate conditions such as limitations on where the accused should stay," added the official. Ghosn was technically in pre-trial detention after being slapped with three separate charges - all of which he denies. Prosecutors believe he under-declared his income in official statements to shareholders between 2010 and 2015 to the tune of some five billion yen ($46 million) in an apparent attempt to avoid accusations he was overpaid. A second separate but very similar charge is that he continued to do this between 2015 and 2018, under-reporting his income by a further four billion yen. He also faces a complex charge of seeking to shift personal investment losses onto Nissan's books and transferring company funds to a Saudi contact who allegedly stumped up collateral for him. Since his arrest, he has been seen in public only once, in a dramatic court appearance where the much thinner executive pleaded his innocence in a packed courtroom. His wife Carole has appealed to Human Rights Watch, claiming he is being held in "harsh" conditions and subjected to round-the-clock interrogations intended to extract a confession. Ghosn's arrest has thrown into question the future of the auto alliance he forged, which has come under pressure in his absence. Nissan immediately ousted him as chairman after the arrest, as did Mitsubishi Motors, the other Japanese firm in the three-way alliance with Renault. The French firm is expected to meet later this week to discuss removing Ghosn as chairman and CEO. French government officials have already urged the company's board to pick a "new lasting leadership". Late Sunday, Nissan held an inaugural meeting of a special committee designed to improve governance in the wake of the scandal. The head of the committee, Seiichiro Nishioka, said the problem was "an excessive concentration of authority in the hands of a single person". The committee is expected to meet three or four additional times before issuing a final report at the end of March. French Economy Minister Bruno Le Maire on Sunday denied talk of a potential merger between Renault and Nissan, despite reports in the Japanese media that Paris was pushing for that outcome.

Tokyo court denies ex-Nissan chief Ghosn's bail request

Japanese media reported Sunday that France wants a merger between Renault and Nissan following the arrest of <a href="http://www.wionews.com/world/ghosn-appeals-against-japan-bail-rejection-190912">former Nissan chairman Carlos Ghosn</a>, but according to France's economy minister changing the current set-up is "not on the table".

Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct.

A delegation including Martin Vial — a Renault director designated by the French government — made the merger request at talks with Japanese officials in Tokyo, Kyodo News reported, citing sources close to the matter.

The French government is the biggest shareholder in Renault with a stake of more than 15 per cent, while Renault owns 43.4 per cent of the Japanese carmaker Nissan with voting rights.

A merger between the two is favoured by French President Emmanuel Macron, Kyodo said.

Japanese business daily Nikkei also reported the merger request by the French delegation, saying Nissan had been opposed to giving Paris greater sway over the Japanese carmaker.

According to Nikkei, the delegation also said Renault wants to name Nissan's next chairman — a post that has remained vacant since <a href="http://www.wionews.com/world/tokyo-court-denies-the-request-for-carlos-ghosns-release-on-bail-190413">Ghosn was ousted on his arrest</a> in November.

But the reports appear to contradict comments French Economy Minister Bruno Le Maire made to Le Journal du Dimanche (JDD) newspaper, published Sunday.

"A shareholder rebalancing, a change in cross-shareholdings between Renault and Nissan is not on the table," he told the French weekly.

Contacted by AFP, a French economy ministry spokesman had no comment to make on the Japanese media reports.

A 'stable relationship'&nbsp;

Macron last month held talks with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 summit in Argentina, at which they only agreed to ensure a stable relationship within the three-way alliance, which also includes Japan's Mitsubishi Motors.

Abe reportedly stressed the importance of all three companies "maintaining their stable relationship" at the summit talk.

But the Japanese premier reportedly also said the fate of the group should be decided by "private businesses" and "governments should not commit to how the alliance should operate going forward", according to a senior government official quoted by Kyodo.

Last week, Renault said it had launched the search for a successor to Ghosn after a Tokyo court quashed his appeal for bail as he faces three charges of financial misconduct.

But Le Maire also said in his interview with the JDD newspaper: "The principle of the presumption of innocence must apply" to Ghosn.

But over and above Ghosn's case, "there are also the interests of Renault and of the alliance", he added. "A business of this scale needs solid and stable governance."

The French government has called for a board meeting to pick Ghosn's successor.

Nissan, which holds a 15-per cent stake in Renault, is widely seen as hoping to reduce the influence of the French partner on its management and review the alliance to make it more equitable.

Carlos Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct.

Japanese media reported Sunday that France wants a merger between Renault and Nissan following the arrest of former Nissan chairman Carlos Ghosn, but according to France's economy minister changing the current set-up is "not on the table". Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct. A delegation including Martin Vial — a Renault director designated by the French government — made the merger request at talks with Japanese officials in Tokyo, Kyodo News reported, citing sources close to the matter. The French government is the biggest shareholder in Renault with a stake of more than 15 per cent, while Renault owns 43.4 per cent of the Japanese carmaker Nissan with voting rights. A merger between the two is favoured by French President Emmanuel Macron, Kyodo said. Japanese business daily Nikkei also reported the merger request by the French delegation, saying Nissan had been opposed to giving Paris greater sway over the Japanese carmaker. According to Nikkei, the delegation also said Renault wants to name Nissan's next chairman — a post that has remained vacant since Ghosn was ousted on his arrest in November. But the reports appear to contradict comments French Economy Minister Bruno Le Maire made to Le Journal du Dimanche (JDD) newspaper, published Sunday. "A shareholder rebalancing, a change in cross-shareholdings between Renault and Nissan is not on the table," he told the French weekly. Contacted by AFP, a French economy ministry spokesman had no comment to make on the Japanese media reports. A 'stable relationship' Macron last month held talks with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 summit in Argentina, at which they only agreed to ensure a stable relationship within the three-way alliance, which also includes Japan's Mitsubishi Motors. Abe reportedly stressed the importance of all three companies "maintaining their stable relationship" at the summit talk. But the Japanese premier reportedly also said the fate of the group should be decided by "private businesses" and "governments should not commit to how the alliance should operate going forward", according to a senior government official quoted by Kyodo. Last week, Renault said it had launched the search for a successor to Ghosn after a Tokyo court quashed his appeal for bail as he faces three charges of financial misconduct. But Le Maire also said in his interview with the JDD newspaper: "The principle of the presumption of innocence must apply" to Ghosn. But over and above Ghosn's case, "there are also the interests of Renault and of the alliance", he added. "A business of this scale needs solid and stable governance." The French government has called for a board meeting to pick Ghosn's successor. Nissan, which holds a 15-per cent stake in Renault, is widely seen as hoping to reduce the influence of the French partner on its management and review the alliance to make it more equitable.

France pushes Japan to accept Renault-Nissan merger: Reports

The Tokyo District Court on Tuesday denied former <a href="http://www.wionews.com/world/wife-says-ex-nissan-boss-ghosn-suffers-harsh-treatment-in-jail-190120">Nissan Motor Co Ltd Chairman Carlos Ghosn</a>'s request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust.

Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust.

The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust. Ghosn, the once-feted auto executive, awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on November 19.

Tokyo court denies request for Carlos Ghosn's release on bail

The wife of ousted <a href="http://www.wionews.com/world/ghosn-lawyers-seek-bail-after-ex-nissan-chief-indicted-on-two-new-charges-189582">Nissan Motor Co Ltd chairman Carlos Ghosn</a> has urged New York-based Human Rights Watch to draw attention to his "harsh treatment" during detention in a Japanese jail, a letter seen by Reuters showed on Sunday.

<a href="http://www.wionews.com/world/japan-court-rejects-nissan-boss-carlos-ghosns-release-bid-189183">Japanese authorities have charged Ghosn</a> with under-reporting income and aggravated breach of trust for temporarily transferring personal investment losses to Nissan in 2008.

In a nine-page letter to Kanae Doi, the rights group's Japan director, Carole Ghosn asked it to "shine a light on the harsh treatment of my husband and the human rights-related inequities inflicted upon him by the Japanese justice system".

Ghosn was in charge of an alliance that included Nissan Motor, Mitsubishi Motors and France's Renault until his November arrest and removal as chairman of the automakers sent shockwaves through the industry.

The government has denied requests to end his detention, which has run since November 19. Ghosn's lawyers have said it would probably take more than six months for his case to come to trial. (For Ghosn investigation timeline, click on)

Phones went unanswered at Japan's Foreign Ministry and the prime minister's office as Monday is a public holiday, but Nissan said it was not in a position to comment on the workings of the judicial system or any decision by the Tokyo prosecutors' office.

Officials of Human Rights Watch could not be reached for comment on the letter, but its Asia director, Brad Adams, said in an editorial on Thursday that Ghosn's case "has shone a light" on Japan's long-overlooked "hostage" justice system.

"Ghosn has not, and should not, receive preferential treatment," Adams wrote in the editorial, which appeared in the online edition of "The Diplomat".

"But if Japan wants to live up to its reputation as one of the world's most advanced democracies, it needs to modernize its criminal justice system," he added.

"Regardless of the serious allegations against him, or the controversies surrounding his tenure at Nissan, no one should have their rights violated in this way while facing criminal charges."

Nissan said last Friday it had filed a criminal complaint against Ghosn with Tokyo prosecutors related to the misuse of a "significant amount of the company's funds".

The former Nissan executive is being held in a 75-sq-foot (6.97-sqm) unheated cell and being denied daily medication, his wife said in her letter. He has lost 7 kg (15 lb) since being detained and eats only rice and barley, she added.

Prosecutors in Japan often try to extract confessions from prisoners in detainment that could last months, Carole Ghosn said in the letter.

"For hours each day, the prosecutors interrogate him, browbeat him, lecture him and berate him, outside the presence of his attorneys, in an effort to extract a confession," she said.

"No one should be forced to endure what my husband faces every day, particularly in a developed nation like Japan, the third largest economy in the world."

Ghosn said he was "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations" during a Tokyo court proceeding last week, his first public appearance since his November arrest, at which he seemed noticeably thinner.

Japanese authorities have charged Ghosn with under-reporting income and aggravated breach of trust for temporarily transferring personal investment losses to Nissan in 2008.

The wife of ousted Nissan Motor Co Ltd chairman Carlos Ghosn has urged New York-based Human Rights Watch to draw attention to his "harsh treatment" during detention in a Japanese jail, a letter seen by Reuters showed on Sunday. Japanese authorities have charged Ghosn with under-reporting income and aggravated breach of trust for temporarily transferring personal investment losses to Nissan in 2008. In a nine-page letter to Kanae Doi, the rights group's Japan director, Carole Ghosn asked it to "shine a light on the harsh treatment of my husband and the human rights-related inequities inflicted upon him by the Japanese justice system". Ghosn was in charge of an alliance that included Nissan Motor, Mitsubishi Motors and France's Renault until his November arrest and removal as chairman of the automakers sent shockwaves through the industry. The government has denied requests to end his detention, which has run since November 19. Ghosn's lawyers have said it would probably take more than six months for his case to come to trial. (For Ghosn investigation timeline, click on) Phones went unanswered at Japan's Foreign Ministry and the prime minister's office as Monday is a public holiday, but Nissan said it was not in a position to comment on the workings of the judicial system or any decision by the Tokyo prosecutors' office. Officials of Human Rights Watch could not be reached for comment on the letter, but its Asia director, Brad Adams, said in an editorial on Thursday that Ghosn's case "has shone a light" on Japan's long-overlooked "hostage" justice system. "Ghosn has not, and should not, receive preferential treatment," Adams wrote in the editorial, which appeared in the online edition of "The Diplomat". "But if Japan wants to live up to its reputation as one of the world's most advanced democracies, it needs to modernize its criminal justice system," he added. "Regardless of the serious allegations against him, or the controversies surrounding his tenure at Nissan, no one should have their rights violated in this way while facing criminal charges." Nissan said last Friday it had filed a criminal complaint against Ghosn with Tokyo prosecutors related to the misuse of a "significant amount of the company's funds". The former Nissan executive is being held in a 75-sq-foot (6.97-sqm) unheated cell and being denied daily medication, his wife said in her letter. He has lost 7 kg (15 lb) since being detained and eats only rice and barley, she added. Prosecutors in Japan often try to extract confessions from prisoners in detainment that could last months, Carole Ghosn said in the letter. "For hours each day, the prosecutors interrogate him, browbeat him, lecture him and berate him, outside the presence of his attorneys, in an effort to extract a confession," she said. "No one should be forced to endure what my husband faces every day, particularly in a developed nation like Japan, the third largest economy in the world." Ghosn said he was "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations" during a Tokyo court proceeding last week, his first public appearance since his November arrest, at which he seemed noticeably thinner.

Ex-Nissan boss Ghosn suffers 'harsh' treatment in jail, says wife

Nissan Motor head of China operations Jose Munoz has resigned following reports that the Japanese automaker has broadened its investigation into ousted <a href="http://www.wionews.com/world/ghosn-lawyers-seek-bail-after-ex-nissan-chief-indicted-on-two-new-charges-189582">Chairman Carlos Ghosn</a>'s alleged financial misconduct.

Reuters had reported earlier on Friday that the Japanese automaker was looking into decisions made in the United States by Munoz who led Nissan's North American operations from 2016 to 2018.

He joined the automaker in 2004 in Europe and led its ambitious expansion in North America after the global financial crisis. Since then, Nissan has succeeded in raising its market share in the United States.

In a LinkedIn on Friday, Munoz said, "I am proud to have played a role in achieving 74 per cent growth in North America, gaining market dominance in Mexico, getting China market share on the growth path, and helping the Renault-Nissan-Mitsubishi Alliance become the highest volume group in the world."

Earlier this year, Nissan tapped Munoz to oversee its operations in China where it plans to ramp up sales over the next few years. Since then, the world's largest auto market has been showing signs of a slowdown, prompting the automaker to cut local production plans in the coming months.

China is Nissan's second-largest market, accounting for roughly one-quarter of its annual global vehicle sales. Last year the company planned to boost sales to make China its biggest market in terms of vehicle sales by 2022.

Munoz, 53, who is also the automaker's Chief Performance Officer, has been with Nissan for 15 years. He was recently placed on a leave of absence due to the ongoing probe.

Munoz, who is widely seen within the industry as close to Ghosn, was a "person of interest" in the probe and it was not clear whether he would be accused of any wrongdoing.

"I look forward to continuing to assist Nissan in its investigations," Munoz said in the post.

Ghosn, once the most celebrated executives in the auto industry and the anchor of Nissan's alliance with France's Renault SA, has been charged with under-reporting his income. On Friday, he was also charged with aggravated breach of trust, accused of shifting personal investment losses worth 1.85 billion yen ($17 million) to Nissan.

Nissan Motor head of China operations Jose Munoz has resigned following reports that the Japanese automaker has broadened its investigation into ousted Chairman Carlos Ghosn's alleged financial misconduct.

Nissan Motor head of China operations Jose Munoz has resigned following reports that the Japanese automaker has broadened its investigation into ousted Chairman Carlos Ghosn's alleged financial misconduct. Reuters had reported earlier on Friday that the Japanese automaker was looking into decisions made in the United States by Munoz who led Nissan's North American operations from 2016 to 2018. He joined the automaker in 2004 in Europe and led its ambitious expansion in North America after the global financial crisis. Since then, Nissan has succeeded in raising its market share in the United States. In a LinkedIn on Friday, Munoz said, "I am proud to have played a role in achieving 74 per cent growth in North America, gaining market dominance in Mexico, getting China market share on the growth path, and helping the Renault-Nissan-Mitsubishi Alliance become the highest volume group in the world." Earlier this year, Nissan tapped Munoz to oversee its operations in China where it plans to ramp up sales over the next few years. Since then, the world's largest auto market has been showing signs of a slowdown, prompting the automaker to cut local production plans in the coming months. China is Nissan's second-largest market, accounting for roughly one-quarter of its annual global vehicle sales. Last year the company planned to boost sales to make China its biggest market in terms of vehicle sales by 2022. Munoz, 53, who is also the automaker's Chief Performance Officer, has been with Nissan for 15 years. He was recently placed on a leave of absence due to the ongoing probe. Munoz, who is widely seen within the industry as close to Ghosn, was a "person of interest" in the probe and it was not clear whether he would be accused of any wrongdoing. "I look forward to continuing to assist Nissan in its investigations," Munoz said in the post. Ghosn, once the most celebrated executives in the auto industry and the anchor of Nissan's alliance with France's Renault SA, has been charged with under-reporting his income. On Friday, he was also charged with aggravated breach of trust, accused of shifting personal investment losses worth 1.85 billion yen ($17 million) to Nissan.

Nissan China chief Jose Munoz resigns amid broadened Ghosn probe

A Japanese court on Wednesday rejected a bid by former <a href="http://www.wionews.com/world/carlos-ghosn-the-allegations-and-the-rebuttals-189028">Nissan boss Carlos Ghosn </a>to end his detention over alleged financial misconduct, a day after he denied all accusations in a dramatic court appearance.

<a href="http://www.wionews.com/world/wrongly-accused-and-unfairly-detained-ex-nissan-chief-carlos-ghosn-tells-court-188904">Ghosn's lawyers had appealed to the court</a> to free the auto tycoon, claiming at a special hearing in a Tokyo court there were no grounds for his detention, which has now lasted more than 50 days.

But the court batted off the request, saying in a terse statement: "The request to cancel the detention filed by Mr&nbsp;Ghosn's lawyers yesterday... was rejected on January 9."

Ghosn stands accused of under-reporting his income in documents to investors, apparently in response to criticism that he earned too much.

He is also under investigation for allegedly seeking to pass off personal investment losses to Nissan's books and paying a Saudi businessman from company funds to stump up collateral to cover the losses.

Ghosn on Tuesday mounted a systematic denial of all the allegations, concluding that he had been "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations".

The presiding judge explained that Ghosn continued to be detained because he presented a flight risk and there were concerns he could tamper with evidence.

On Friday, Ghosn's latest maximum period of detention will end and he will either be freed on bail or — more likely — see his detention extended.

Even his main lawyer Motonari Otsuru has acknowledged the 64-year-old executive has little chance of being released soon, describing it as "very difficult" to win bail before the case goes to trial.

And that, he said, could take at least six months.

Carlos Ghosn's lawyers had appealed to the court to free the auto tycoon, claiming at a special hearing in a Tokyo court there were no grounds for his detention.

A Japanese court on Wednesday rejected a bid by former Nissan boss Carlos Ghosn to end his detention over alleged financial misconduct, a day after he denied all accusations in a dramatic court appearance. Ghosn's lawyers had appealed to the court to free the auto tycoon, claiming at a special hearing in a Tokyo court there were no grounds for his detention, which has now lasted more than 50 days. But the court batted off the request, saying in a terse statement: "The request to cancel the detention filed by Mr Ghosn's lawyers yesterday... was rejected on January 9." Ghosn stands accused of under-reporting his income in documents to investors, apparently in response to criticism that he earned too much. He is also under investigation for allegedly seeking to pass off personal investment losses to Nissan's books and paying a Saudi businessman from company funds to stump up collateral to cover the losses. Ghosn on Tuesday mounted a systematic denial of all the allegations, concluding that he had been "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations". The presiding judge explained that Ghosn continued to be detained because he presented a flight risk and there were concerns he could tamper with evidence. On Friday, Ghosn's latest maximum period of detention will end and he will either be freed on bail or — more likely — see his detention extended. Even his main lawyer Motonari Otsuru has acknowledged the 64-year-old executive has little chance of being released soon, describing it as "very difficult" to win bail before the case goes to trial. And that, he said, could take at least six months.

Japan court rejects Nissan boss Carlos Ghosn's release bid

Former Nissan boss Carlos Ghosn said Tuesday <a href="http://www.wionews.com/world/carlos-ghosn-rearrested-in-japan-over-fresh-allegations-185576">he had been "wrongly accused</a> and unfairly detained" at a high-profile court hearing in Japan, his first appearance since his arrest in November rocked the business world.

In a statement prepared for the hearing and issued by a spokesperson, Ghosn was expected to conclude his remarks by saying: "Your Honour, I am innocent of the accusations made against me."

The 64-year-old auto titan said he had "always acted with integrity" and had "never been accused of any wrongdoing" in his career spanning several decades, during which he is credited with saving the struggling Japanese manufacturer.

"I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations," concluded the executive at a hearing at the Tokyo District Court, according to the statement.

Making his first appearance in seven weeks, the once-revered boss appeared handcuffed with a rope around his waist and wearing plastic slippers. He wore a dark suit without a tie. His hair was greying at the roots and he looked thinner than in recent pictures.

In an indication of the interest the case has sparked in Japan, more than 1,000 people waited outside the court from the early hours in the hope of getting one of just 14 tickets for the public gallery.

The purpose of the hearing was for the court to explain the reasons for Ghosn's continued detention on suspicion of financial misconduct.

Presiding Judge Yuichi Tada read out the charges against Ghosn and said he was being detained because he was a flight risk and there was a possibility he would conceal evidence.

It is considered extremely unlikely the hearing would result in a change to Ghosn's detention but the case has repeatedly shown the ability to surprise, from the moment prosecutors stormed the tycoon's private jet at a Tokyo airport on November 19, with the twists and turns gripping Japan and the business world.

Ghosn faces a host of allegations of financial impropriety.

Prosecutors have formally charged him over suspicions he under-declared some five billion yen ($44 million) from his salary in documents to investors over five fiscal years from 2010 -- apparently, to avoid accusations he was paid too much.

Authorities also suspect he continued this scheme over the next three tax years, seeking to defer another four billion yen of his salary until after retirement.

A third, more complex, accusation is that he sought to shift personal foreign exchange losses onto Nissan's books and then paid a business contact from Saudi Arabia some $14.7 million -- supposedly from company funds -- who allegedly stumped up collateral for him.

Ghosn has not been formally charged over the latter two allegations and is preparing to defend himself "vigorously" in court, according to his son Anthony in an interview with French weekly Journal du Dimanche.

"For the first time, he will be able to explain all the charges against him and give his version and I think everyone will be quite surprised to hear his version of the story," the 24-year-old was quoted as saying.

Anthony, who has not spoken to his father, has said Ghosn would be released if he signed a confession.

The high-profile Ghosn case has thrown the spotlight on the Japanese legal system, which has been criticised in some quarters for the practice of extending the custody of suspects without formal charges being pressed.

On December 31, the court again extended his detention until January 11, at which point prosecutors could rearrest him to question him over other allegations or could free him on bail.&nbsp;

- 'Family the priority' -&nbsp; 
Ghosn is a towering figure in the auto industry and is credited with turning around a struggling Nissan -- also giving him a high profile rare for foreign executives in Japan.

He forged an unlikely three-way alliance between Mitsubishi Motors, Renault and Nissan that now outsells any other rival group.

But his arrest has laid bare divisions in the tie-up. Nissan and Mitsubishi Motors promptly removed him as chairman whereas the French firm has kept him on while he fights the allegations.

In an interview with AFP on the eve of the hearing, current Nissan CEO Hiroto Saikawa insisted: "I don't think it's in danger at all."

However, Flavien Neuvy, auto analyst from Paris-based Cetelem, said it was impossible to predict how the affair would hit the grouping.

"Maybe we have hit the limits of this alliance as it was conceived at the beginning," he told AFP.&nbsp;

Meanwhile, Ghosn's son Anthony painted a picture of a devoted family man for whom "money is only a way to help those he loves, not an end in itself".

"He takes his role as a father even more seriously than his role as head of a major company. For him, family is always the priority."

Former Nissan boss Carlos Ghosn said Tuesday he had been "wrongly accused and unfairly detained" at a high-profile court hearing in Japan, his first appearance since his arrest in November rocked the business world.

Former Nissan boss Carlos Ghosn said Tuesday he had been "wrongly accused and unfairly detained" at a high-profile court hearing in Japan, his first appearance since his arrest in November rocked the business world. In a statement prepared for the hearing and issued by a spokesperson, Ghosn was expected to conclude his remarks by saying: "Your Honour, I am innocent of the accusations made against me." The 64-year-old auto titan said he had "always acted with integrity" and had "never been accused of any wrongdoing" in his career spanning several decades, during which he is credited with saving the struggling Japanese manufacturer. "I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations," concluded the executive at a hearing at the Tokyo District Court, according to the statement. Making his first appearance in seven weeks, the once-revered boss appeared handcuffed with a rope around his waist and wearing plastic slippers. He wore a dark suit without a tie. His hair was greying at the roots and he looked thinner than in recent pictures. In an indication of the interest the case has sparked in Japan, more than 1,000 people waited outside the court from the early hours in the hope of getting one of just 14 tickets for the public gallery. The purpose of the hearing was for the court to explain the reasons for Ghosn's continued detention on suspicion of financial misconduct. Presiding Judge Yuichi Tada read out the charges against Ghosn and said he was being detained because he was a flight risk and there was a possibility he would conceal evidence. It is considered extremely unlikely the hearing would result in a change to Ghosn's detention but the case has repeatedly shown the ability to surprise, from the moment prosecutors stormed the tycoon's private jet at a Tokyo airport on November 19, with the twists and turns gripping Japan and the business world. Ghosn faces a host of allegations of financial impropriety. Prosecutors have formally charged him over suspicions he under-declared some five billion yen ($44 million) from his salary in documents to investors over five fiscal years from 2010 -- apparently, to avoid accusations he was paid too much. Authorities also suspect he continued this scheme over the next three tax years, seeking to defer another four billion yen of his salary until after retirement. A third, more complex, accusation is that he sought to shift personal foreign exchange losses onto Nissan's books and then paid a business contact from Saudi Arabia some $14.7 million -- supposedly from company funds -- who allegedly stumped up collateral for him. Ghosn has not been formally charged over the latter two allegations and is preparing to defend himself "vigorously" in court, according to his son Anthony in an interview with French weekly Journal du Dimanche. "For the first time, he will be able to explain all the charges against him and give his version and I think everyone will be quite surprised to hear his version of the story," the 24-year-old was quoted as saying. Anthony, who has not spoken to his father, has said Ghosn would be released if he signed a confession. The high-profile Ghosn case has thrown the spotlight on the Japanese legal system, which has been criticised in some quarters for the practice of extending the custody of suspects without formal charges being pressed. On December 31, the court again extended his detention until January 11, at which point prosecutors could rearrest him to question him over other allegations or could free him on bail. - 'Family the priority' - Ghosn is a towering figure in the auto industry and is credited with turning around a struggling Nissan -- also giving him a high profile rare for foreign executives in Japan. He forged an unlikely three-way alliance between Mitsubishi Motors, Renault and Nissan that now outsells any other rival group. But his arrest has laid bare divisions in the tie-up. Nissan and Mitsubishi Motors promptly removed him as chairman whereas the French firm has kept him on while he fights the allegations. In an interview with AFP on the eve of the hearing, current Nissan CEO Hiroto Saikawa insisted: "I don't think it's in danger at all." However, Flavien Neuvy, auto analyst from Paris-based Cetelem, said it was impossible to predict how the affair would hit the grouping. "Maybe we have hit the limits of this alliance as it was conceived at the beginning," he told AFP. Meanwhile, Ghosn's son Anthony painted a picture of a devoted family man for whom "money is only a way to help those he loves, not an end in itself". "He takes his role as a father even more seriously than his role as head of a major company. For him, family is always the priority."

Wrongly accused and unfairly detained: Ex-Nissan chief Carlos Ghosn tells court

Once a revered titan of the auto industry, <a href="http://www.wionews.com/world/wrongly-accused-and-unfairly-detained-ex-nissan-chief-carlos-ghosn-tells-court-188904">Carlos Ghosn </a>appeared in a Tokyo courtroom on Tuesday in handcuffs to offer his first public statement since his arrest.

Here are some of the allegations against Ghosn and the public rebuttals he offered in court:

Under-reporting compensation

Prosecutors allege that Ghosn, with the help of his right-hand man at Nissan Greg Kelly -- also under arrest but freed on bail -- under-reported his compensation in financial documents for at least eight fiscal years.

Ghosn has already been charged with under-reporting his compensation from 2010-2015, and prosecutors are investigating the following three years.

They allege the scheme involved deferring some of Ghosn's compensation until his retirement -- possibly to avoid criticism over his hefty pay -- and that failure to declare that constitutes financial misconduct.

In total, prosecutors say, he under-reported his pay by nine billion yen, or around $83 million.

In court Tuesday, Ghosn strongly denied the allegations, saying he kept an internal benchmark for compensation that came from job offers he received from other firms while at Nissan.

"It had no legal effect; it was never shared with the directors, and it never represented any kind of binding commitment," he told the court.

He said he "understood" that draft proposals for post-retirement compensation were "reviewed by internal and external lawyers, showing I had no intent to violate the law".

Ghosn added that if he died today -- what he described as the "Death Test" -- Nissan would not be required to pay his heirs anything but his retirement allowance, which he said showed there was no binding committment for additional pay.

Shifting losses to Nissan

Prosecutors allege that Ghosn tried to shift losses on two foreign exchange contracts to Nissan's books when the value of the yen soared and the Japanese automaker's shares plunged during the 2008 financial crisis.

They allege that when Ghosn failed to get Nissan to shoulder the losses, he then had a Saudi business acquaintance put up the additional collateral demanded by the bank holding the contracts.

He is then accused of having transferred $14.7 million in Nissan money to the associate to compensate him for the collateral.

In court Tuesday, Ghosn acknowledged that he had taken out foreign exchange contracts from 2002, after Nissan refused to pay him in dollars, as a hedge against yen fluctuations.

He said the bank demanded increased collateral on the contracts after the financial crisis, which he was unable to secure unless he resigned from Nissan and received his retirement allowance.

Instead, he decided to "ask Nissan to temporarily take on the collateral, so long as it came to no cost to the company... the FX contracts were then transferred back to me without Nissan incurring any loss".

Ghosn said the money transferred to the Saudi associate, whom he named as Khaled Juffali, was for work he had done for Nissan, describing him as a "long-time supporter and partner" of the firm.

He said Juffali's company "was appropriately compensated -- an amount disclosed to and approved by the appropriate officers at Nissan" in return for "critical services" he provided the firm.

A statement issued on behalf of Juffali's company by a PR firm also defended the money as payments for "legitimate business purposes".

The statement said Juffali's company provided services including resolving a dispute with a local Saudi car firm and lobbying to secure approval for a plant in the kingdom.

Homes, and a job for his sister

There are several additional allegations against Ghosn made by sources with knowledge of the Nissan investigation into its former chairman.

Prosecutors have yet to publicly accuse Ghosn of these claims, however.

Among them are accusations that Ghosn used a subsidiary purportedly set up to help fund Nissan's tech investments to pay for personal residences in Rio de Janeiro, Beirut and Paris. 
Nissan also believes Ghosn was paying his sister up to $110,000 a year between 2003-2016 for a fictitious role as an advisor.

In mid-December, the firm filed an injunction in Brazil intended to protect its right to pursue a case against Ghosn's sister.

He did not address either of these allegations in court, but insisted he had been "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations".

"Your Honour, I am innocent of the accusations made against me," he said.

Once a revered titan of the auto industry, Carlos Ghosn appeared in a Tokyo courtroom on Tuesday in handcuffs to offer his first public statement since his arrest.

Once a revered titan of the auto industry, Carlos Ghosn appeared in a Tokyo courtroom on Tuesday in handcuffs to offer his first public statement since his arrest. Here are some of the allegations against Ghosn and the public rebuttals he offered in court: Under-reporting compensation Prosecutors allege that Ghosn, with the help of his right-hand man at Nissan Greg Kelly -- also under arrest but freed on bail -- under-reported his compensation in financial documents for at least eight fiscal years. Ghosn has already been charged with under-reporting his compensation from 2010-2015, and prosecutors are investigating the following three years. They allege the scheme involved deferring some of Ghosn's compensation until his retirement -- possibly to avoid criticism over his hefty pay -- and that failure to declare that constitutes financial misconduct. In total, prosecutors say, he under-reported his pay by nine billion yen, or around $83 million. In court Tuesday, Ghosn strongly denied the allegations, saying he kept an internal benchmark for compensation that came from job offers he received from other firms while at Nissan. "It had no legal effect; it was never shared with the directors, and it never represented any kind of binding commitment," he told the court. He said he "understood" that draft proposals for post-retirement compensation were "reviewed by internal and external lawyers, showing I had no intent to violate the law". Ghosn added that if he died today -- what he described as the "Death Test" -- Nissan would not be required to pay his heirs anything but his retirement allowance, which he said showed there was no binding committment for additional pay. Shifting losses to Nissan Prosecutors allege that Ghosn tried to shift losses on two foreign exchange contracts to Nissan's books when the value of the yen soared and the Japanese automaker's shares plunged during the 2008 financial crisis. They allege that when Ghosn failed to get Nissan to shoulder the losses, he then had a Saudi business acquaintance put up the additional collateral demanded by the bank holding the contracts. He is then accused of having transferred $14.7 million in Nissan money to the associate to compensate him for the collateral. In court Tuesday, Ghosn acknowledged that he had taken out foreign exchange contracts from 2002, after Nissan refused to pay him in dollars, as a hedge against yen fluctuations. He said the bank demanded increased collateral on the contracts after the financial crisis, which he was unable to secure unless he resigned from Nissan and received his retirement allowance. Instead, he decided to "ask Nissan to temporarily take on the collateral, so long as it came to no cost to the company... the FX contracts were then transferred back to me without Nissan incurring any loss". Ghosn said the money transferred to the Saudi associate, whom he named as Khaled Juffali, was for work he had done for Nissan, describing him as a "long-time supporter and partner" of the firm. He said Juffali's company "was appropriately compensated -- an amount disclosed to and approved by the appropriate officers at Nissan" in return for "critical services" he provided the firm. A statement issued on behalf of Juffali's company by a PR firm also defended the money as payments for "legitimate business purposes". The statement said Juffali's company provided services including resolving a dispute with a local Saudi car firm and lobbying to secure approval for a plant in the kingdom. Homes, and a job for his sister There are several additional allegations against Ghosn made by sources with knowledge of the Nissan investigation into its former chairman. Prosecutors have yet to publicly accuse Ghosn of these claims, however. Among them are accusations that Ghosn used a subsidiary purportedly set up to help fund Nissan's tech investments to pay for personal residences in Rio de Janeiro, Beirut and Paris. Nissan also believes Ghosn was paying his sister up to $110,000 a year between 2003-2016 for a fictitious role as an advisor. In mid-December, the firm filed an injunction in Brazil intended to protect its right to pursue a case against Ghosn's sister. He did not address either of these allegations in court, but insisted he had been "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations". "Your Honour, I am innocent of the accusations made against me," he said.

Carlos Ghosn: The allegations and the rebuttals

Former Nissan boss Carlos Ghosn will be spending the beginning of 2019 behind bars after a Tokyo court on Monday extended his detention through to January 11, local media reported.

The decision, reported by public broadcaster NHK and local news agency Jiji Press, comes after Japanese prosecutors re-arrested Ghosn for fresh allegations on December 21, dashing his hopes of being home for Christmas.

There was no immediate confirmation from the court. The move comes as Ghosn, who was arrested on November 19, faces three separate sets of allegations involving financial wrongdoing during his tenure as Nissan chief.

The growing case against the auto tycoon represents a stunning reversal of fortune for a man once revered in Japan and beyond for his ability to turn around automakers, including Nissan.

The twists and turns of the case have gripped Japan and the business world and shone a light on the Japanese legal system, which has come in for some criticism internationally.

Authorities are pursuing three separate lines of enquiry against the 64-year-old Franco-Lebanese-Brazilian executive.

They suspect he conspired with his right-hand man, US executive Greg Kelly, to hide away around half of his income (some five billion yen or $44 million) over five fiscal years from 2010.

They also allege he under-reported his salary to the tune of four billion yen over the next three fiscal years -- apparently to avoid criticism that his pay was too high.

The extension that prosecutors won Monday allows them to continue investigating a complex third claim that alleges Ghosn sought to shift a personal investment loss onto Nissan's books.

As part of that scheme, he is also accused of having used Nissan funds to repay a Saudi acquaintance who put up collateral money.

Prosecutors have pressed formal charges over the first allegation but not yet over the other accusations.

'Dark side'

The extension deals a new blow to Ghosn's hopes of being released from the Tokyo detention centre where he has been held since his shock arrest.

Earlier this month, he appeared on the verge of winning bail after a court rejected a request from prosecutors to extend his detention on the second allegation against him.

But by filing the new claims, prosecutors were able to restart the clock on his detention.

The once jet-setting executive, who denies any wrongdoing, was initially held in a tiny single but has now reportedly been moved to a more comfortable room.

He has complained about the cold and the rice-based menu, sources say, though he has told embassy visitors he is being well-treated.

While he has failed to win bail, his alleged accomplice Kelly won a court-ordered release on Christmas Day.

Kelly's bail conditions prevent him from leaving Japan, and he is reportedly now seeking treatment for a spinal condition at a Japanese hospital.

Ghosn's lengthy detention has sparked criticism, especially from abroad, but Japanese prosecutors have defended the legal system, which allows suspects to be "re-arrested" several times over different allegations.

And his arrest has laid bare tensions in the alliance he helped forge between Nissan, Mitsubishi Motors and France's Renault.

While Nissan and Mitsubishi swiftly ousted Ghosn from his leadership posts after his arrest, Renault has responded more cautiously to the allegations.

The French firm has also repeatedly called on Nissan to hold a shareholders meeting, and is reportedly seeking increased representation on the board of the Japanese automaker.

Nissan has rejected the calls for a shareholder meeting at this stage, and says it is waiting until a commission looking into governance at the firm releases its findings.

The Japanese automaker has also so far failed to agree on who should succeed Ghosn as chairman.

While the tycoon was once so beloved for his role in turning around Nissan that he was immortalised in manga comic form, his former colleagues have since harshly criticised him.

Nissan's CEO Hiroto Saikawa, a one-time Ghosn protege, has accused his former boss of accruing too much power and referred to his tenure's "dark side."

Former Nissan boss Carlos Ghosn will be spending the beginning of 2019 behind bars after a Tokyo court on Monday extended his detention through to January 11, local media reported.

Former Nissan boss Carlos Ghosn will be spending the beginning of 2019 behind bars after a Tokyo court on Monday extended his detention through to January 11, local media reported. The decision, reported by public broadcaster NHK and local news agency Jiji Press, comes after Japanese prosecutors re-arrested Ghosn for fresh allegations on December 21, dashing his hopes of being home for Christmas. There was no immediate confirmation from the court. The move comes as Ghosn, who was arrested on November 19, faces three separate sets of allegations involving financial wrongdoing during his tenure as Nissan chief. The growing case against the auto tycoon represents a stunning reversal of fortune for a man once revered in Japan and beyond for his ability to turn around automakers, including Nissan. The twists and turns of the case have gripped Japan and the business world and shone a light on the Japanese legal system, which has come in for some criticism internationally. Authorities are pursuing three separate lines of enquiry against the 64-year-old Franco-Lebanese-Brazilian executive. They suspect he conspired with his right-hand man, US executive Greg Kelly, to hide away around half of his income (some five billion yen or $44 million) over five fiscal years from 2010. They also allege he under-reported his salary to the tune of four billion yen over the next three fiscal years -- apparently to avoid criticism that his pay was too high. The extension that prosecutors won Monday allows them to continue investigating a complex third claim that alleges Ghosn sought to shift a personal investment loss onto Nissan's books. As part of that scheme, he is also accused of having used Nissan funds to repay a Saudi acquaintance who put up collateral money. Prosecutors have pressed formal charges over the first allegation but not yet over the other accusations. 'Dark side' The extension deals a new blow to Ghosn's hopes of being released from the Tokyo detention centre where he has been held since his shock arrest. Earlier this month, he appeared on the verge of winning bail after a court rejected a request from prosecutors to extend his detention on the second allegation against him. But by filing the new claims, prosecutors were able to restart the clock on his detention. The once jet-setting executive, who denies any wrongdoing, was initially held in a tiny single but has now reportedly been moved to a more comfortable room. He has complained about the cold and the rice-based menu, sources say, though he has told embassy visitors he is being well-treated. While he has failed to win bail, his alleged accomplice Kelly won a court-ordered release on Christmas Day. Kelly's bail conditions prevent him from leaving Japan, and he is reportedly now seeking treatment for a spinal condition at a Japanese hospital. Ghosn's lengthy detention has sparked criticism, especially from abroad, but Japanese prosecutors have defended the legal system, which allows suspects to be "re-arrested" several times over different allegations. And his arrest has laid bare tensions in the alliance he helped forge between Nissan, Mitsubishi Motors and France's Renault. While Nissan and Mitsubishi swiftly ousted Ghosn from his leadership posts after his arrest, Renault has responded more cautiously to the allegations. The French firm has also repeatedly called on Nissan to hold a shareholders meeting, and is reportedly seeking increased representation on the board of the Japanese automaker. Nissan has rejected the calls for a shareholder meeting at this stage, and says it is waiting until a commission looking into governance at the firm releases its findings. The Japanese automaker has also so far failed to agree on who should succeed Ghosn as chairman. While the tycoon was once so beloved for his role in turning around Nissan that he was immortalised in manga comic form, his former colleagues have since harshly criticised him. Nissan's CEO Hiroto Saikawa, a one-time Ghosn protege, has accused his former boss of accruing too much power and referred to his tenure's "dark side."

Ghosn's detention extended to January 11: Japanese media

Tokyo prosecutors are set to decide on the detention of former Nissan Motor Co Ltd Chairman Carlos Ghosn on Tuesday&nbsp;for financial misconduct.

Ghosn was arrested for allegedly conspiring to understate his income by about half of the actual 10 billion yen ($88.66 million) over five years from 2010. His deputy, Greg Kelly, who was accused of assisting, was released from Tokyo Detention Centre on December 25.

Ghosn was re-arrested on December 21 for aggravated breach of trust in transferring personal investment losses to the automaker.

The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen (£13.15 million or $16.6 million) incurred on a swap contract he had with a bank which it did not name.

On January 1, the prosecutors need to decide whether they will indict, release, or re-arrest Ghosn on new claims. Ghosn previously said through his lawyer that he was not guilty of the allegations, for which he has not been formally charged.

The November 19 arrest of Ghosn shook the foundations of the Renault-Nissan alliance and stunned the auto industry, where Ghosn is renowned for turning around the French and Japanese carmakers. Ghosn remains chairman and chief executive of Renault SA.

Tokyo prosecutors are set to decide on the detention of former Nissan Motor Co Ltd Chairman Carlos Ghosn on Tuesday for financial misconduct. Ghosn was arrested for allegedly conspiring to understate his income by about half of the actual 10 billion yen ($88.

Tokyo prosecutors are set to decide on the detention of former Nissan Motor Co Ltd Chairman Carlos Ghosn on Tuesday for financial misconduct. Ghosn was arrested for allegedly conspiring to understate his income by about half of the actual 10 billion yen ($88.66 million) over five years from 2010. His deputy, Greg Kelly, who was accused of assisting, was released from Tokyo Detention Centre on December 25. Ghosn was re-arrested on December 21 for aggravated breach of trust in transferring personal investment losses to the automaker. The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen (£13.15 million or $16.6 million) incurred on a swap contract he had with a bank which it did not name. On January 1, the prosecutors need to decide whether they will indict, release, or re-arrest Ghosn on new claims. Ghosn previously said through his lawyer that he was not guilty of the allegations, for which he has not been formally charged. The November 19 arrest of Ghosn shook the foundations of the Renault-Nissan alliance and stunned the auto industry, where Ghosn is renowned for turning around the French and Japanese carmakers. Ghosn remains chairman and chief executive of Renault SA.

Tokyo's prosecutors set to decide on Carlos Ghosn's detention

Japanese authorities Tuesday released on bail a Nissan executive accused of a key role in the financial misconduct case involving auto <a href="http://www.wionews.com/world/ghosns-detention-extended-by-10-days-through-january-1-185943">tycoon Carlos Ghosn</a>, who remains in detention.

Greg Kelly, wearing a casual zip-up jacket and looking tired, walked out of the Tokyo Detention Centre more than a month after his arrest and got into a waiting taxi without speaking to the media.

In a statement prepared before his release, Kelly said he was arrested "for unexpected suspicion, during which I had hard times for my disease in this detention facility."

He said he would now consult a doctor regarding a health problem.

"I expect that the trial will start soon. I have not been involved in alleged false entry. I believe my innocence will be revealed in the trial," he said in the statement, according to Kyodo News.

"I would like to have a judgement of non-guilty and restore my impaired reputation, and then return to my family as soon as possible," he said.

His release came after the Tokyo District Court had approved a request by his lawyers.

His bail was at 70 million yen ($635,000), which he paid in cash, according to the court.

Prosecutors appealed the decision, but the court turned them down.

Kelly was granted bail reportedly on condition that he would not leave Japan, make contact with anyone involved in the case, or destroy evidence.

He would also need court approval to attend board meetings at Nissan, public broadcaster NHK said.

The 62-year-old American was arrested on November 19 at the same time as Ghosn on allegations he helped him under-report his compensation at Nissan for years.

The bail order comes after Kelly's wife issued a video statement saying she was "extremely concerned about his health."

Kelly suffers from a spinal condition and was reportedly due to undergo surgery before his arrest in Tokyo.

"Greg was tricked into coming to Japan and betrayed by a group of Nissan executives as part of a political power grab. Their dishonourable motives are clear," Dee Kelly claimed.

She said her husband, once Ghosn's right-hand man, had been "caught up in an international plot by some at Nissan to take control".

Rift in alliance

Kelly is accused of helping construct an alleged scheme by which Ghosn under-reported his salary for a period of eight years.

The pair has already been indicted over their alleged involvement in the scheme in the five years to 2015. Prosecutors are still investigating the period from 2015.

Ghosn also faces an additional allegation involving claims he shifted a personal investment loss of more than $16 million to Nissan's books with help from a Saudi acquaintance.

He is expected to remain in detention through Christmas and the start of 2019, with prosecutors able to apply for an additional 10-day extension when his current detention period expires on January 1.

Ghosn's fall from power at Nissan has exposed a deep rift in the firm's three-way alliance with Renault and Mitsubishi Motors -- which outsold all of its rival groups last year.

While Nissan and Mitsubishi quickly removed Ghosn from his leadership roles after his arrest, Renault has been more cautious about the charges and the case has stoked tensions between the French firm and Nissan.

Ghosn was once revered in Japan for his role in turning around Nissan and forging the fractious alliance, in which Renault remains the dominant shareholder.

But his former protege, current Nissan CEO Hiroto Saikawa, has harshly criticised the Franco-Brazilian-Lebanese tycoon, accusing him of having accrued too much power and referring to the "dark side" of Ghosn's tenure.

Ghosn, who denies the allegations against him, is being held at the detention centre's infirmary and has a bed and heating, according to a source with knowledge of his condition.

Japanese authorities Tuesday released on bail a Nissan executive accused of a key role in the financial misconduct case involving auto tycoon Carlos Ghosn, who remains in detention.

Japanese authorities Tuesday released on bail a Nissan executive accused of a key role in the financial misconduct case involving auto tycoon Carlos Ghosn, who remains in detention. Greg Kelly, wearing a casual zip-up jacket and looking tired, walked out of the Tokyo Detention Centre more than a month after his arrest and got into a waiting taxi without speaking to the media. In a statement prepared before his release, Kelly said he was arrested "for unexpected suspicion, during which I had hard times for my disease in this detention facility." He said he would now consult a doctor regarding a health problem. "I expect that the trial will start soon. I have not been involved in alleged false entry. I believe my innocence will be revealed in the trial," he said in the statement, according to Kyodo News. "I would like to have a judgement of non-guilty and restore my impaired reputation, and then return to my family as soon as possible," he said. His release came after the Tokyo District Court had approved a request by his lawyers. His bail was at 70 million yen ($635,000), which he paid in cash, according to the court. Prosecutors appealed the decision, but the court turned them down. Kelly was granted bail reportedly on condition that he would not leave Japan, make contact with anyone involved in the case, or destroy evidence. He would also need court approval to attend board meetings at Nissan, public broadcaster NHK said. The 62-year-old American was arrested on November 19 at the same time as Ghosn on allegations he helped him under-report his compensation at Nissan for years. The bail order comes after Kelly's wife issued a video statement saying she was "extremely concerned about his health." Kelly suffers from a spinal condition and was reportedly due to undergo surgery before his arrest in Tokyo. "Greg was tricked into coming to Japan and betrayed by a group of Nissan executives as part of a political power grab. Their dishonourable motives are clear," Dee Kelly claimed. She said her husband, once Ghosn's right-hand man, had been "caught up in an international plot by some at Nissan to take control". Rift in alliance Kelly is accused of helping construct an alleged scheme by which Ghosn under-reported his salary for a period of eight years. The pair has already been indicted over their alleged involvement in the scheme in the five years to 2015. Prosecutors are still investigating the period from 2015. Ghosn also faces an additional allegation involving claims he shifted a personal investment loss of more than $16 million to Nissan's books with help from a Saudi acquaintance. He is expected to remain in detention through Christmas and the start of 2019, with prosecutors able to apply for an additional 10-day extension when his current detention period expires on January 1. Ghosn's fall from power at Nissan has exposed a deep rift in the firm's three-way alliance with Renault and Mitsubishi Motors -- which outsold all of its rival groups last year. While Nissan and Mitsubishi quickly removed Ghosn from his leadership roles after his arrest, Renault has been more cautious about the charges and the case has stoked tensions between the French firm and Nissan. Ghosn was once revered in Japan for his role in turning around Nissan and forging the fractious alliance, in which Renault remains the dominant shareholder. But his former protege, current Nissan CEO Hiroto Saikawa, has harshly criticised the Franco-Brazilian-Lebanese tycoon, accusing him of having accrued too much power and referring to the "dark side" of Ghosn's tenure. Ghosn, who denies the allegations against him, is being held at the detention centre's infirmary and has a bed and heating, according to a source with knowledge of his condition.

Nissan executive Greg Kelly linked to Ghosn case released on bail

Former Nissan boss <a href="http://www.wionews.com/world/carlos-ghosn-rearrested-in-japan-over-fresh-allegations-185576">Carlos Ghosn</a> will be spending Christmas and the beginning of 2019 behind bars after a <a href="http://www.wionews.com/world/japan-court-decides-not-extend-ghosns-detention-185466">Tokyo court</a> on Sunday extended his detention through to January 1.

"Today, a decision was made to detain (Ghosn). The full term of the detention will expire on January 1," the Tokyo District Court said in a statement to media.

The move by the court comes as Tokyo prosecutors continue to grill the automobile tycoon over allegations that he shifted a personal investment loss worth more than $16 million to the Japanese automaker.

The Franco-Brazilian-Lebanese executive earlier had hopes of being freed on bail after the same Tokyo court rejected a bid last week by prosecutors to extend his detention over allegations related to under-reporting his income.

But on Friday, prosecutors slapped Ghosn with a fresh arrest warrant over the investment loss, gaining a 48-hour period to keep him in custody before the latest extension was granted.

The 64-year-old has reportedly denied the allegations, asserting that transactions were carried out legally.

His lengthy detention&nbsp;in Japan, suspects can be "re-arrested" several times over different allegations&nbsp;has sparked criticism, especially from abroad.

His original November 19 arrest for alleged financial misconduct sent shockwaves through the business world.

Since then, the once jet-setting executive has languished in a tiny cell in a detention centre in northern Tokyo, where he has complained about the cold and the rice-based menu.

Ghosn has told embassy visitors he is being well treated and sources at French car giant Renault have described his frame of mind as "combative" as he fights the charges against him.

After his arrest, last month, Nissan and Mitsubishi Motors promptly sacked Ghosn as chairman but Renault kept him on and appointed an interim boss as it waited to assess the legal procedures against him.

Prosecutors formally charged Ghosn on December 10 with financial misconduct for allegedly under-declaring his income by some five billion yen ($44 million) between 2010 and 2015.

At the same time, they re-arrested him on suspicion of also under-reporting his income by a further four billion yen over the past three years. He has not formally been charged over this allegation.

In addition to charges against Ghosn and his right-hand man Greg Kelly, prosecutors had also indicted Nissan itself, as the company submitted the official documents that under-reported the income.

Kelly, who was also arrested last month, could be released as early as next week.

Former Nissan boss Carlos Ghosn will be spending Christmas and the beginning of 2019 behind bars after a Tokyo court on Sunday extended his detention through to January 1.

Former Nissan boss Carlos Ghosn will be spending Christmas and the beginning of 2019 behind bars after a Tokyo court on Sunday extended his detention through to January 1. "Today, a decision was made to detain (Ghosn). The full term of the detention will expire on January 1," the Tokyo District Court said in a statement to media. The move by the court comes as Tokyo prosecutors continue to grill the automobile tycoon over allegations that he shifted a personal investment loss worth more than $16 million to the Japanese automaker. The Franco-Brazilian-Lebanese executive earlier had hopes of being freed on bail after the same Tokyo court rejected a bid last week by prosecutors to extend his detention over allegations related to under-reporting his income. But on Friday, prosecutors slapped Ghosn with a fresh arrest warrant over the investment loss, gaining a 48-hour period to keep him in custody before the latest extension was granted. The 64-year-old has reportedly denied the allegations, asserting that transactions were carried out legally. His lengthy detention in Japan, suspects can be "re-arrested" several times over different allegations has sparked criticism, especially from abroad. His original November 19 arrest for alleged financial misconduct sent shockwaves through the business world. Since then, the once jet-setting executive has languished in a tiny cell in a detention centre in northern Tokyo, where he has complained about the cold and the rice-based menu. Ghosn has told embassy visitors he is being well treated and sources at French car giant Renault have described his frame of mind as "combative" as he fights the charges against him. After his arrest, last month, Nissan and Mitsubishi Motors promptly sacked Ghosn as chairman but Renault kept him on and appointed an interim boss as it waited to assess the legal procedures against him. Prosecutors formally charged Ghosn on December 10 with financial misconduct for allegedly under-declaring his income by some five billion yen ($44 million) between 2010 and 2015. At the same time, they re-arrested him on suspicion of also under-reporting his income by a further four billion yen over the past three years. He has not formally been charged over this allegation. In addition to charges against Ghosn and his right-hand man Greg Kelly, prosecutors had also indicted Nissan itself, as the company submitted the official documents that under-reported the income. Kelly, who was also arrested last month, could be released as early as next week.

Ghosn's detention extended by 10 days through January 1

Nissan's Carlos Ghosn re-arrested

Prosecutors re-arrested former <a href="http://www.wionews.com/world/renault-board-maintains-ghosn-as-ceo-says-pay-was-legal-184013">Nissan boss Carlos Ghosn </a>over fresh allegations on Friday, apparently dashing his hopes of early release in the latest twist to a rollercoaster saga.

The case of the once-revered 64-year-<a href="http://www.wionews.com/world/nissan-chairman-ghosn-faces-new-under-reporting-charge-worth-35-million-181672">old tycoon has gripped Japan</a> since he was arrested completely out of the blue as he stepped off his private jet at Tokyo's Haneda Airport on November 19.

And in another unexpected development, Ghosn was arrested Friday on suspicion of transferring losses from personal financial investments to Nissan, causing damage to the company's assets, according to a statement from prosecutors.

He has already been formally charged with under-reporting his income by tens of millions of dollars over several years and faces a second batch of allegations that this continued for three further years.

However, the auto baron had had his hopes raised of being freed on bail after a court rejected a bid by prosecutors to extend his detention over the second set of allegations.

But this fresh arrest gives prosecutors 48 hours to question him on the new matter - possibly extended beyond that.

Since his stunning arrest last month, the once jet-setting executive has languished in a tiny cell in a detention centre in northern Tokyo, where he has complained about the cold and the rice-based menu.

His lengthy detention - in Japan, suspects can be "re-arrested" several times over different allegations - has sparked criticism, especially from abroad.

Ghosn has an unusually high profile for a foreign executive in Japan and was credited with turning around the struggling car giant Nissan and forging a three-way alliance with French manufacturer Renault and fellow Japanese firm Mitsubishi Motors.

He was seen as the glue holding together the fractious alliance and his arrest has exposed major rifts between Nissan -- which makes the most money -- and Renault, the dominant shareholder.

According to local media, Ghosn has admitted signing documents to defer part of his salary until after retirement but said this amount did not need to be declared as it had not yet been definitively fixed.

The suspicion is that he sought to defer part of his pay to avoid criticism from staff and shareholders that his salary was too generous.

Both Nissan and Mitsubishi Motors promptly sacked Ghosn as chairman following his arrest, on the basis of a months-long internal Nissan investigation.

Renault has been much more cautious, keeping him on as chairman and CEO and appointing Thierry Bollore as interim boss.

In addition to charges against Ghosn and Kelly, prosecutors have also indicted Nissan, as the company submitted the official documents that allegedly under-reported his income.

On Thursday, the company pointedly declined to comment, saying it was "exclusively between the court and the prosecutors".

It said the decision to fire Ghosn was "based on the substantial and convincing evidence" from an internal investigation.&nbsp;

"Both Ghosn and Kelly have violated their director duty of care," the firm added in a statement.

Nissan has also accused its former boss of other financial impropriety, including using Nissan funds to purchase luxury homes around the world.

One of these -- a luxurious, 8,600-square-foot spread with ocean views over Rio de Janeiro's famous Copacabana Beach -- has become the subject of a legal battle.

Last week, Ghosn family members entered the flat, removed "personal effects" and opened the safes, according to Nissan. This followed a court order giving Ghosn's representatives access despite objections from the Japanese firm.

Prosecutors re-arrested former Nissan boss Carlos Ghosn over fresh allegations on Friday, apparently dashing his hopes of early release in the latest twist to a rollercoaster saga.

Prosecutors re-arrested former Nissan boss Carlos Ghosn over fresh allegations on Friday, apparently dashing his hopes of early release in the latest twist to a rollercoaster saga. The case of the once-revered 64-year-old tycoon has gripped Japan since he was arrested completely out of the blue as he stepped off his private jet at Tokyo's Haneda Airport on November 19. And in another unexpected development, Ghosn was arrested Friday on suspicion of transferring losses from personal financial investments to Nissan, causing damage to the company's assets, according to a statement from prosecutors. He has already been formally charged with under-reporting his income by tens of millions of dollars over several years and faces a second batch of allegations that this continued for three further years. However, the auto baron had had his hopes raised of being freed on bail after a court rejected a bid by prosecutors to extend his detention over the second set of allegations. But this fresh arrest gives prosecutors 48 hours to question him on the new matter - possibly extended beyond that. Since his stunning arrest last month, the once jet-setting executive has languished in a tiny cell in a detention centre in northern Tokyo, where he has complained about the cold and the rice-based menu. His lengthy detention - in Japan, suspects can be "re-arrested" several times over different allegations - has sparked criticism, especially from abroad. Ghosn has an unusually high profile for a foreign executive in Japan and was credited with turning around the struggling car giant Nissan and forging a three-way alliance with French manufacturer Renault and fellow Japanese firm Mitsubishi Motors. He was seen as the glue holding together the fractious alliance and his arrest has exposed major rifts between Nissan -- which makes the most money -- and Renault, the dominant shareholder. According to local media, Ghosn has admitted signing documents to defer part of his salary until after retirement but said this amount did not need to be declared as it had not yet been definitively fixed. The suspicion is that he sought to defer part of his pay to avoid criticism from staff and shareholders that his salary was too generous. Both Nissan and Mitsubishi Motors promptly sacked Ghosn as chairman following his arrest, on the basis of a months-long internal Nissan investigation. Renault has been much more cautious, keeping him on as chairman and CEO and appointing Thierry Bollore as interim boss. In addition to charges against Ghosn and Kelly, prosecutors have also indicted Nissan, as the company submitted the official documents that allegedly under-reported his income. On Thursday, the company pointedly declined to comment, saying it was "exclusively between the court and the prosecutors". It said the decision to fire Ghosn was "based on the substantial and convincing evidence" from an internal investigation. "Both Ghosn and Kelly have violated their director duty of care," the firm added in a statement. Nissan has also accused its former boss of other financial impropriety, including using Nissan funds to purchase luxury homes around the world. One of these -- a luxurious, 8,600-square-foot spread with ocean views over Rio de Janeiro's famous Copacabana Beach -- has become the subject of a legal battle. Last week, Ghosn family members entered the flat, removed "personal effects" and opened the safes, according to Nissan. This followed a court order giving Ghosn's representatives access despite objections from the Japanese firm.

Carlos Ghosn re-arrested in Japan over fresh allegations

A Tokyo court on Thursday unexpectedly decided not to extend the<a href="http://www.wionews.com/world/former-nissan-chairman-carlos-ghosn-denies-allegations-against-him-nhk-179283"> detention of Nissan Motor Co's ousted </a>chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct.

The Tokyo District Court said it <a href="http://www.wionews.com/business-economy/nissan-board-sacks-carlos-ghosn-as-chairman-media-178798">also decided against extending</a> detention for Greg Kelly, a former Nissan executive who was first arrested along with Ghosn on November&nbsp;19th. Lawyers for both men were not immediately available for comment.

It was unclear whether prosecutors will appeal the decision. Shin Kukimoto, deputy prosecutor at the Tokyo District Public Prosecutors Office, said only that his office will respond "appropriately".

Ghosn has been indicted for allegedly understating his income over a five-year period from 2010. He was re-arrested on Dec. 10 for the same alleged crime covering the past three years. The 10-day detention period in the second instance ran out on Thursday.

The court had widely been expected to extend the detention, as granting bail to suspects who insist on their innocence is highly unusual in Japan.

Masashi Akita, a defence lawyer in Osaka, said the court's decision could reflect a change in its attitude towards detention.

"They are very nervous about criticism of their lenient approach toward detention. This is a typical case of such changing, I suppose," he said. "I think this case has a big impact and effect on the Japanese justice practice, and such a move is favourable for the defence side."

Public broadcaster NHK said Ghosn could be released on Thursday or Friday if any appeal by prosecutors is rejected by the court and bail is granted.

Ghosn's arrest marked a dramatic fall for a leader once hailed for rescuing Nissan from the brink of bankruptcy.

He has been treated like others in detention, held in a small room. Authorities have limited his opportunities to shower and shave, a person familiar with the matter previously told Reuters.

It was not immediately clear how much bail would be, meaning it was still uncertain whether Ghosn's release was possible.

Activist fund manager Yoshiaki Murakami, arrested in 2006 for insider trading, paid an initial $4.47 million&nbsp;in bail.

Ghosn's Nissan income is at the centre of allegations by Tokyo prosecutors, who have charged the executive for failing to disclose compensation that he had arranged to receive later.

Nissan has said its whistleblower investigation also uncovered personal use of company funds and other misconduct.

The scandal has shaken the Renault-Nissan-Mitsubishi alliance, with Nissan Chief Executive Hiroto Saikawa calling for changes to weaken Renault SA's control.

Renault has so far not replaced Ghosn as head of the French carmaker, saying Ghosn's compensation had been in compliance with law and governance guidelines.

Documents seen by Reuters showed that executives at both Nissan and Renault were involved in discussions about compensating Ghosn out of the public eye.

A Nissan spokesman declined to comment on the court's decision, saying he could only speak about the company's investigations or executive misconduct.

A Tokyo court on Thursday unexpectedly decided not to extend the detention of Nissan Motor Co's ousted chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct.

A Tokyo court on Thursday unexpectedly decided not to extend the detention of Nissan Motor Co's ousted chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct. The Tokyo District Court said it also decided against extending detention for Greg Kelly, a former Nissan executive who was first arrested along with Ghosn on November 19th. Lawyers for both men were not immediately available for comment. It was unclear whether prosecutors will appeal the decision. Shin Kukimoto, deputy prosecutor at the Tokyo District Public Prosecutors Office, said only that his office will respond "appropriately". Ghosn has been indicted for allegedly understating his income over a five-year period from 2010. He was re-arrested on Dec. 10 for the same alleged crime covering the past three years. The 10-day detention period in the second instance ran out on Thursday. The court had widely been expected to extend the detention, as granting bail to suspects who insist on their innocence is highly unusual in Japan. Masashi Akita, a defence lawyer in Osaka, said the court's decision could reflect a change in its attitude towards detention. "They are very nervous about criticism of their lenient approach toward detention. This is a typical case of such changing, I suppose," he said. "I think this case has a big impact and effect on the Japanese justice practice, and such a move is favourable for the defence side." Public broadcaster NHK said Ghosn could be released on Thursday or Friday if any appeal by prosecutors is rejected by the court and bail is granted. Ghosn's arrest marked a dramatic fall for a leader once hailed for rescuing Nissan from the brink of bankruptcy. He has been treated like others in detention, held in a small room. Authorities have limited his opportunities to shower and shave, a person familiar with the matter previously told Reuters. It was not immediately clear how much bail would be, meaning it was still uncertain whether Ghosn's release was possible. Activist fund manager Yoshiaki Murakami, arrested in 2006 for insider trading, paid an initial $4.47 million in bail. Ghosn's Nissan income is at the centre of allegations by Tokyo prosecutors, who have charged the executive for failing to disclose compensation that he had arranged to receive later. Nissan has said its whistleblower investigation also uncovered personal use of company funds and other misconduct. The scandal has shaken the Renault-Nissan-Mitsubishi alliance, with Nissan Chief Executive Hiroto Saikawa calling for changes to weaken Renault SA's control. Renault has so far not replaced Ghosn as head of the French carmaker, saying Ghosn's compensation had been in compliance with law and governance guidelines. Documents seen by Reuters showed that executives at both Nissan and Renault were involved in discussions about compensating Ghosn out of the public eye. A Nissan spokesman declined to comment on the court's decision, saying he could only speak about the company's investigations or executive misconduct.

Japan court decides to not extend Ghosn's detention

The board of automaker Nissan meets Monday to discuss replacing <a href="http://www.wionews.com/world/carlos-ghosn-suspected-of-shifting-personal-investment-losses-to-nissan-report-179699">former chairman Carlos Ghosn</a> after his arrest for financial misconduct, as tensions grow in the firm's alliance with Renault.

The Japanese company removed Ghosn from his post last month after he was detained on allegations of under-reporting his salary.

But it appears unlikely to agree Monday on a permanent replacement for him, in part because of open discord in its alliance with French automaker Renault.

Nissan itself faces charges for allegedly submitting financial documents that understated Ghosn's pay, and Renault is now reportedly seeking more sway on the Japanese firm's board.

The Wall Street Journal reported Sunday that Renault urged Nissan in a letter to hold a shareholders meeting to discuss Renault's representation on the firm's nine-member board and within its top management.

It warned that Nissan's indictment "creates significant risks to Renault, as Nissan's largest shareholder, and to the stability of our industrial alliance", the Journal reported.

A source with knowledge of the issue confirmed that Nissan had received the letter and was planning an extraordinary shareholders' meeting in January.

Renault's letter is the latest sign of the tensions in the alliance that groups the firm with Nissan and Mitsubishi Motors -- a partnership that Ghosn forged and was often credited with holding together.

While Nissan and Mitsubishi Motors quickly removed Ghosn from leadership positions after his arrest, Renault has kept the auto executive on as CEO and chairman.

And while Nissan CEO Hiroto Saikawa launched a broadside against his former mentor shortly after his arrest, describing his "dark side", Renault has approached the allegations more cautiously.

The decision on replacing Ghosn at Nissan is being led by an advisory committee that includes a former Renault executive, and Japanese media reports suggested it was unlikely to reach a decision on Monday.

"It slows things down, but it isn't the end of the world," a source close to the issue told AFP.

"We need to let them talk and decide properly. That's more important than rushing."&nbsp;

The company is instead likely to announce new governance measures intended to address criticism that it failed to prevent Ghosn's alleged misconduct.

As his former employer wrangles over his replacement, Ghosn remains in the one-man cell at a Tokyo detention centre he has occupied since his shock arrest on November 19.

Prosecutors have already charged him with under-reporting his pay by around $44 million over the five years to 2015, and are also investigating claims he under-reported it further in the last three years.

He will be detained until at least December 20, when prosecutors will either file new charges or request another 10-day detention period while they continue investigations.

A range of additional claims of financial misconduct have been made against Ghosn, including using Nissan funds to purchase homes around the world, though prosecutors have yet to level those accusations formally.

He and his former right-hand man Greg Kelly, who is also under arrest, reportedly deny any wrongdoing.

The charges have sparked a legal battle over Ghosn's flat in Rio de Janeiro, with Nissan trying to prevent his family members from accessing the property and removing items.

A Brazilian court authorised relatives to access the apartment, despite claims from Nissan that they were removing corporate documents.

Ghosn's arrest marked a stunning reversal of fortune for the Franco-Brazilian-Lebanese tycoon, once revered in Japan for effectively rescuing Nissan from insolvency.

He helped engineer the alliance between Nissan, Renault and Mitsubishi, creating a partnership that sold more cars than any other globally last year.&nbsp;

The board of automaker Nissan meets Monday to discuss replacing former chairman Carlos Ghosn after his arrest for financial misconduct, as tensions grow in the firm's alliance with Renault.

The board of automaker Nissan meets Monday to discuss replacing former chairman Carlos Ghosn after his arrest for financial misconduct, as tensions grow in the firm's alliance with Renault. The Japanese company removed Ghosn from his post last month after he was detained on allegations of under-reporting his salary. But it appears unlikely to agree Monday on a permanent replacement for him, in part because of open discord in its alliance with French automaker Renault. Nissan itself faces charges for allegedly submitting financial documents that understated Ghosn's pay, and Renault is now reportedly seeking more sway on the Japanese firm's board. The Wall Street Journal reported Sunday that Renault urged Nissan in a letter to hold a shareholders meeting to discuss Renault's representation on the firm's nine-member board and within its top management. It warned that Nissan's indictment "creates significant risks to Renault, as Nissan's largest shareholder, and to the stability of our industrial alliance", the Journal reported. A source with knowledge of the issue confirmed that Nissan had received the letter and was planning an extraordinary shareholders' meeting in January. Renault's letter is the latest sign of the tensions in the alliance that groups the firm with Nissan and Mitsubishi Motors -- a partnership that Ghosn forged and was often credited with holding together. While Nissan and Mitsubishi Motors quickly removed Ghosn from leadership positions after his arrest, Renault has kept the auto executive on as CEO and chairman. And while Nissan CEO Hiroto Saikawa launched a broadside against his former mentor shortly after his arrest, describing his "dark side", Renault has approached the allegations more cautiously. The decision on replacing Ghosn at Nissan is being led by an advisory committee that includes a former Renault executive, and Japanese media reports suggested it was unlikely to reach a decision on Monday. "It slows things down, but it isn't the end of the world," a source close to the issue told AFP. "We need to let them talk and decide properly. That's more important than rushing." The company is instead likely to announce new governance measures intended to address criticism that it failed to prevent Ghosn's alleged misconduct. As his former employer wrangles over his replacement, Ghosn remains in the one-man cell at a Tokyo detention centre he has occupied since his shock arrest on November 19. Prosecutors have already charged him with under-reporting his pay by around $44 million over the five years to 2015, and are also investigating claims he under-reported it further in the last three years. He will be detained until at least December 20, when prosecutors will either file new charges or request another 10-day detention period while they continue investigations. A range of additional claims of financial misconduct have been made against Ghosn, including using Nissan funds to purchase homes around the world, though prosecutors have yet to level those accusations formally. He and his former right-hand man Greg Kelly, who is also under arrest, reportedly deny any wrongdoing. The charges have sparked a legal battle over Ghosn's flat in Rio de Janeiro, with Nissan trying to prevent his family members from accessing the property and removing items. A Brazilian court authorised relatives to access the apartment, despite claims from Nissan that they were removing corporate documents. Ghosn's arrest marked a stunning reversal of fortune for the Franco-Brazilian-Lebanese tycoon, once revered in Japan for effectively rescuing Nissan from insolvency. He helped engineer the alliance between Nissan, Renault and Mitsubishi, creating a partnership that sold more cars than any other globally last year.

Nissan meets to replace Ghosn, as tensions with Renault grow

The board of the French automaker Renault said Thursday that it was keeping <a href="http://www.wionews.com/world/carlos-ghosn-suspected-of-shifting-personal-investment-losses-to-nissan-report-179699">Carlos Ghosn</a> as its chief executive, after an internal review of his pay package found that it conformed with French law.

Ghosn has been held under arrest in Japan since November 19 on charges of financial misconduct and under-reporting his pay as head of Renault's partner Nissan, which has since sacked him as chairman.

He has also been dismissed as chairman of Mitsubishi, another partner in the Renault-Nissan alliance.

Renault kept Ghosn on as CEO after his arrest in Tokyo, but launched an enquiry into his pay package and named a deputy CEO, Thierry Bollore, to ensure day-to-day management.

"The compensation of the chairman and chief executive officer of Renault and the conditions under which such compensation was approved were in compliance with applicable law," the automaker said after a board meeting Thursday.

The board said this referred to compensation for the years 2015 to 2018, adding that it had asked its lawyers to continue their review in liaison with Nissan's lawyers.

Renault's lawyers also provided the board with a report on a presentation made by Nissan's lawyers, the statement said.

At this stage, the board "does not have information concerning Carlos Ghosn's defence," it added.

Both Ghosn and a key aide Greg Kelly, who is also being held in Japan in connection with the charges, have reportedly denied the claims.

Stunning fall

The 64-year-old Franco-Lebanese-Brazilian executive was formally charged Monday in Japan of under-declaring his income by some five billion yen ($44 million) between 2010 and 2015.

At the same time, prosecutors served him with a new warrant alleging that he also under-reported his income over the past three years.

Under Japanese law, suspects can be re-arrested several times for different allegations, allowing prosecutors to question them for prolonged periods -- a system that has drawn criticism internationally.

In addition to charges against Ghosn and Kelly, prosecutors have also indicted Nissan itself, as the company submitted the official documents that under-reported the income.

Ghosn, a towering figure in the global auto industry who had nonetheless prompted grumblings over a perceived lavish lifestyle, has reportedly told embassy visitors he is being treated well, but has complained of the cold in his cell and of the rice-based food.

If found guilty, he could face a 10-year prison sentence.

Shortly after Ghosn's indictment, Prime Minister Shinzo Abe reiterated the need to maintain the Renault-Nissan-Mitsubishi alliance, calling it "a symbol of Japan-France industrial cooperation."

This did not prevent reports of tension between the three companies, which outsold every rival group last year, even though executives have said they remain "fully committed" to the alliance.

In addition to under-reporting his salary, Ghosn is suspected of deferring part of his compensation to avoid criticism from staff and shareholders that his salary was too generous.

His arrest sparked incredulity at Renault, which now owns 43 per cent of Nissan, which in turns has a 15 per cent stake in its French partner.

Ghosn is celebrated for saving Nissan from the brink of bankruptcy and rebuilding it as a money-making subsidiary of Renault.

The board of the French automaker Renault said Thursday that it was keeping Carlos Ghosn as its chief executive, after an internal review of his pay package found that it conformed with French law.

The board of the French automaker Renault said Thursday that it was keeping Carlos Ghosn as its chief executive, after an internal review of his pay package found that it conformed with French law. Ghosn has been held under arrest in Japan since November 19 on charges of financial misconduct and under-reporting his pay as head of Renault's partner Nissan, which has since sacked him as chairman. He has also been dismissed as chairman of Mitsubishi, another partner in the Renault-Nissan alliance. Renault kept Ghosn on as CEO after his arrest in Tokyo, but launched an enquiry into his pay package and named a deputy CEO, Thierry Bollore, to ensure day-to-day management. "The compensation of the chairman and chief executive officer of Renault and the conditions under which such compensation was approved were in compliance with applicable law," the automaker said after a board meeting Thursday. The board said this referred to compensation for the years 2015 to 2018, adding that it had asked its lawyers to continue their review in liaison with Nissan's lawyers. Renault's lawyers also provided the board with a report on a presentation made by Nissan's lawyers, the statement said. At this stage, the board "does not have information concerning Carlos Ghosn's defence," it added. Both Ghosn and a key aide Greg Kelly, who is also being held in Japan in connection with the charges, have reportedly denied the claims. Stunning fall The 64-year-old Franco-Lebanese-Brazilian executive was formally charged Monday in Japan of under-declaring his income by some five billion yen ($44 million) between 2010 and 2015. At the same time, prosecutors served him with a new warrant alleging that he also under-reported his income over the past three years. Under Japanese law, suspects can be re-arrested several times for different allegations, allowing prosecutors to question them for prolonged periods -- a system that has drawn criticism internationally. In addition to charges against Ghosn and Kelly, prosecutors have also indicted Nissan itself, as the company submitted the official documents that under-reported the income. Ghosn, a towering figure in the global auto industry who had nonetheless prompted grumblings over a perceived lavish lifestyle, has reportedly told embassy visitors he is being treated well, but has complained of the cold in his cell and of the rice-based food. If found guilty, he could face a 10-year prison sentence. Shortly after Ghosn's indictment, Prime Minister Shinzo Abe reiterated the need to maintain the Renault-Nissan-Mitsubishi alliance, calling it "a symbol of Japan-France industrial cooperation." This did not prevent reports of tension between the three companies, which outsold every rival group last year, even though executives have said they remain "fully committed" to the alliance. In addition to under-reporting his salary, Ghosn is suspected of deferring part of his compensation to avoid criticism from staff and shareholders that his salary was too generous. His arrest sparked incredulity at Renault, which now owns 43 per cent of Nissan, which in turns has a 15 per cent stake in its French partner. Ghosn is celebrated for saving Nissan from the brink of bankruptcy and rebuilding it as a money-making subsidiary of Renault.

Renault board maintains Ghosn as CEO, says pay was legal

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