Former Nissan Motor Co boss Carlos Ghosn said he was disappointed that a <a href="http://www.wionews.com/world/japan-court-bars-ex-boss-carlos-ghosn-from-nissan-board-meeting-report-202584">Tokyo court had rejected his request </a>to attend the car maker's board meeting on Tuesday, and that he was still willing to carry out his duties as a board member.

“Mr. Ghosn is disappointed that the Court denied his request to attend the Nissan Board of Directors meeting," according to a statement issued by a spokesman.

"As an elected member of the Board, Mr. Ghosn stands ready to fulfill his professional duties to the shareholders who elected him," the statement said.

"It is unfortunate that the meritless and unsubstantiated accusations against him have blocked his ideas and perspective from being deployed in service of the company he served for the past twenty years.”

Released on $9 million bail last week after spending more than 100 days in a Tokyo detention centre, Ghosn faces charges of under-reporting his salary at Nissan by about $82 million over nearly a decade.

He was stripped of the role of Nissan chairman but remains a board member.

Former Nissan Motor Co boss Carlos Ghosn said he was disappointed that a Tokyo court had rejected his request to attend the car maker's board meeting on Tuesday, and that he was still willing to carry out his duties as a board member.

Former Nissan Motor Co boss Carlos Ghosn said he was disappointed that a Tokyo court had rejected his request to attend the car maker's board meeting on Tuesday, and that he was still willing to carry out his duties as a board member. “Mr. Ghosn is disappointed that the Court denied his request to attend the Nissan Board of Directors meeting," according to a statement issued by a spokesman. "As an elected member of the Board, Mr. Ghosn stands ready to fulfill his professional duties to the shareholders who elected him," the statement said. "It is unfortunate that the meritless and unsubstantiated accusations against him have blocked his ideas and perspective from being deployed in service of the company he served for the past twenty years.” Released on $9 million bail last week after spending more than 100 days in a Tokyo detention centre, Ghosn faces charges of under-reporting his salary at Nissan by about $82 million over nearly a decade. He was stripped of the role of Nissan chairman but remains a board member.

Ghosn 'disappointed' at ban from Nissan meeting, wants to fulfill duties

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the <a href="http://www.wionews.com/world/japan-court-bars-ex-boss-carlos-ghosn-from-nissan-board-meeting-report-202584">arrest of former boss Carlos Ghosn</a>.

The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands -- one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors.

"We have decided to join our forces again, to enhance the strength of our collaboration," Senard told reporters.

This is a "new start" for the alliance, insisted the Frenchman.

Senard also announced he would "not be seeking" to replace Ghosn as head of Nissan but would be a "clear candidate" to be vice-president of the Japanese auto giant.

For his part, current Nissan boss Hiroto Saikawa said the new board represented "a true partnership on equal footing".

Both executives sidestepped questions about Ghosn, recently released on bail in Japan ahead of a trial over alleged financial misconduct.

Asked about Ghosn, Senard said: "I have two or three major principles in my life. One of them is the respect of people. The second is respect of facts. And the third... is to respect people and consider them innocent as long as it has not been proven differently."

'Opposition and anxiety'

Ghosn is widely credited with creating the three-way alliance, which now outsells all other rival groups.

As boss of Renault, he took what many observers at the time thought was a gamble by saving Nissan from the brink of bankruptcy and tying it to the French firm.

In a complicated management structure, Renault -- itself 15-per cent held by the French state -- owns a 43-per cent stake in Nissan.

However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance.

In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese automaker.

His downfall was plotted due to "opposition and anxiety" over the plan to bring Nissan and Renault closer together, Ghosn alleged.

The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court.

Although he was almost immediately fired as the head of the company when the allegations surfaced, he is still a board member until April 8, when an extraordinary meeting of shareholders is likely to remove him.

But his bail conditions prevent him from contact with anyone else involved in his case -- including Saikawa, who also attended Tuesday's meeting.

Ghosn, who strenuously denies all charges against him, was said to be "disappointed" not to be able to attend the meeting.

He believes that the accusations against him, which he has frequently described as "meritless and unsubstantiated", should not prevent him from giving his input into a company he saved from the brink.

'He thought it was free'

Ghosn faces three charges of financial misconduct.

The first two charges relate to the alleged under-reporting of his salary in documents to shareholders to the tune of nine billion yen ($81 million) over a period of eight years.

The other charge relates to an alleged attempt to pass off personal investment losses onto Nissan's books and then paying from company funds a Saudi contact who had previously stumped up collateral for him.

Ghosn found himself embroiled in another legal battle on Monday when French prosecutors opened an inquiry into a party he threw at the sumptuous Palace of Versailles outside Paris in 2016.

Renault disclosed last month that the chateau had waived the usual 50,000 euro ($56,000) rental fee for the October 2016 Marie Antoinette-themed party under a sponsorship deal signed a few months earlier.

The waived bill could amount to the misuse of company resources, as well as tax evasion if the benefit-in-kind was not declared to French authorities.

Ghosn's lawyer in France, Jean-Yves Le Borgne, told AFP that the executive "stands ready" to repay the money, saying his client was "not aware he owed it because he had not been billed".

"He thought it was free," Le Borgne said.

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the arrest of former boss Carlos Ghosn.

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the arrest of former boss Carlos Ghosn. The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands -- one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors. "We have decided to join our forces again, to enhance the strength of our collaboration," Senard told reporters. This is a "new start" for the alliance, insisted the Frenchman. Senard also announced he would "not be seeking" to replace Ghosn as head of Nissan but would be a "clear candidate" to be vice-president of the Japanese auto giant. For his part, current Nissan boss Hiroto Saikawa said the new board represented "a true partnership on equal footing". Both executives sidestepped questions about Ghosn, recently released on bail in Japan ahead of a trial over alleged financial misconduct. Asked about Ghosn, Senard said: "I have two or three major principles in my life. One of them is the respect of people. The second is respect of facts. And the third... is to respect people and consider them innocent as long as it has not been proven differently." 'Opposition and anxiety' Ghosn is widely credited with creating the three-way alliance, which now outsells all other rival groups. As boss of Renault, he took what many observers at the time thought was a gamble by saving Nissan from the brink of bankruptcy and tying it to the French firm. In a complicated management structure, Renault -- itself 15-per cent held by the French state -- owns a 43-per cent stake in Nissan. However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance. In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese automaker. His downfall was plotted due to "opposition and anxiety" over the plan to bring Nissan and Renault closer together, Ghosn alleged. The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court. Although he was almost immediately fired as the head of the company when the allegations surfaced, he is still a board member until April 8, when an extraordinary meeting of shareholders is likely to remove him. But his bail conditions prevent him from contact with anyone else involved in his case -- including Saikawa, who also attended Tuesday's meeting. Ghosn, who strenuously denies all charges against him, was said to be "disappointed" not to be able to attend the meeting. He believes that the accusations against him, which he has frequently described as "meritless and unsubstantiated", should not prevent him from giving his input into a company he saved from the brink. 'He thought it was free' Ghosn faces three charges of financial misconduct. The first two charges relate to the alleged under-reporting of his salary in documents to shareholders to the tune of nine billion yen ($81 million) over a period of eight years. The other charge relates to an alleged attempt to pass off personal investment losses onto Nissan's books and then paying from company funds a Saudi contact who had previously stumped up collateral for him. Ghosn found himself embroiled in another legal battle on Monday when French prosecutors opened an inquiry into a party he threw at the sumptuous Palace of Versailles outside Paris in 2016. Renault disclosed last month that the chateau had waived the usual 50,000 euro ($56,000) rental fee for the October 2016 Marie Antoinette-themed party under a sponsorship deal signed a few months earlier. The waived bill could amount to the misuse of company resources, as well as tax evasion if the benefit-in-kind was not declared to French authorities. Ghosn's lawyer in France, Jean-Yves Le Borgne, told AFP that the executive "stands ready" to repay the money, saying his client was "not aware he owed it because he had not been billed". "He thought it was free," Le Borgne said.

Renault, Nissan, Mitsubishi unveil new joint board post-Ghosn

<a href="http://www.wionews.com/world/carlos-ghosn-out-on-bail-will-be-under-strict-monitoring-202032">Former Nissan chief Carlos Ghosn</a> is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, local media reported Monday.

Ghosn wants to attend a Tuesday meeting at the company's headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers.

The office of Ghosn's lead lawyer Junichiro Hironaka declined to comment.

Nissan said it could not confirm that Ghosn was seeking to attend the meeting but that it would be "for the court to decide" whether its former chief could be present.

Several Japanese newspapers also reported that Ghosn would seek to attend the meeting.

Nissan removed Ghosn as chief shortly after his shock November 19 arrest, but he cannot be officially removed from his seat on the board without a shareholder meeting.

The company has scheduled one for April 8, but Ghosn retains the right to attend board meetings until then.

But he must also obtain the court's approval, which may prove challenging given the stringent measures that govern his release on bail.&nbsp;

Under the terms of his release, he is forbidden from contacting people who could be involved in his case, including Nissan executives likely to attend board meetings, such as CEO Hiroto Saikawa.

Ghosn, who paid nearly $9 million in bail money, must also live in a residence that is monitored from the outside by camera, and can only access a non-internet connected computer at his lawyer's office.

The 65-year-old was released on bail on March 6 after more than 100 days in detention.

He faces three charges of financial misconduct over allegations he under-reported his compensation and sought to transfer personal losses to Nissan's books.

Former Nissan chief Carlos Ghosn is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, local media reported Monday. Ghosn wants to attend a Tuesday meeting at the company's headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers.

Former Nissan chief Carlos Ghosn is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, local media reported Monday. Ghosn wants to attend a Tuesday meeting at the company's headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers. The office of Ghosn's lead lawyer Junichiro Hironaka declined to comment. Nissan said it could not confirm that Ghosn was seeking to attend the meeting but that it would be "for the court to decide" whether its former chief could be present. Several Japanese newspapers also reported that Ghosn would seek to attend the meeting. Nissan removed Ghosn as chief shortly after his shock November 19 arrest, but he cannot be officially removed from his seat on the board without a shareholder meeting. The company has scheduled one for April 8, but Ghosn retains the right to attend board meetings until then. But he must also obtain the court's approval, which may prove challenging given the stringent measures that govern his release on bail. Under the terms of his release, he is forbidden from contacting people who could be involved in his case, including Nissan executives likely to attend board meetings, such as CEO Hiroto Saikawa. Ghosn, who paid nearly $9 million in bail money, must also live in a residence that is monitored from the outside by camera, and can only access a non-internet connected computer at his lawyer's office. The 65-year-old was released on bail on March 6 after more than 100 days in detention. He faces three charges of financial misconduct over allegations he under-reported his compensation and sought to transfer personal losses to Nissan's books.

Carlos Ghosn wants to attend Nissan board meeting: Report

A Japanese court has barred <a href="http://www.wionews.com/world/carlos-ghosn-wants-to-attend-nissan-board-meeting-report-202476">Carlos Ghosn from attending a Nissan board meeting</a>, local media reported on Monday, as the bailed former chairman prepares his defence against charges of financial misconduct.

Ghosn wanted to attend a Tuesday meeting at the company's headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers.

Nissan removed Ghosn as chief shortly after his shock November 19 arrest, but he cannot be officially removed from his seat on the board without a shareholder meeting.

Under the terms of his release, he is forbidden from contacting people who could be involved in his case, including Nissan executives likely to attend board meetings, such as CEO Hiroto Saikawa.

Ghosn, who paid nearly $9 million in bail money, must also live in a residence that is monitored from the outside by camera, and can only access a non-internet connected computer at his lawyer's office.

The 65-year-old was released on bail on March 6 after more than 100 days in detention.

He faces three charges of financial misconduct over allegations he under-reported his compensation and sought to transfer personal losses to Nissan's books.

A Japanese court has barred Carlos Ghosn from attending a Nissan board meeting, local media reported on Monday, as the bailed former chairman prepares his defence against charges of financial misconduct.

A Japanese court has barred Carlos Ghosn from attending a Nissan board meeting, local media reported on Monday, as the bailed former chairman prepares his defence against charges of financial misconduct. Ghosn wanted to attend a Tuesday meeting at the company's headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers. Nissan removed Ghosn as chief shortly after his shock November 19 arrest, but he cannot be officially removed from his seat on the board without a shareholder meeting. Under the terms of his release, he is forbidden from contacting people who could be involved in his case, including Nissan executives likely to attend board meetings, such as CEO Hiroto Saikawa. Ghosn, who paid nearly $9 million in bail money, must also live in a residence that is monitored from the outside by camera, and can only access a non-internet connected computer at his lawyer's office. The 65-year-old was released on bail on March 6 after more than 100 days in detention. He faces three charges of financial misconduct over allegations he under-reported his compensation and sought to transfer personal losses to Nissan's books.

Japan court bars ex-boss Carlos Ghosn from Nissan board meeting: Report

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

The family of former industrial <a href="http://www.wionews.com/world/carlos-ghosn-held-260000-rio-party-billed-to-renault-nissan-report-198745">tycoon Carlos Ghosn</a>, currently held in Japan on tax evasion charges, is to appeal to the United Nations in a bid to have him released, one of his lawyers said Monday.

Ghosn, 64, formerly in charge of the Nissan and Renault carmakers, has been in detention since his shock November 19 arrest and has tried repeatedly without success to secure bail.

"We have decided to appeal to those UN bodies dealing with fundamental rights compliance," Francois Zimeray said, reading a statement issued by Ghosn's family.

The appeal will be made to the Working Group on Arbitrary Detention, which is overseen by the UN Human Rights Council, he added.

"Carlos Ghosn has now been held for over 100 days in Japan," in a place "with medieval rules", the statement said.

The lawyer represents Ghosn's wife, Carole, who in a recent interview with Paris Match magazine described her husband's detention conditions as "deplorable", and children Caroline, Maya, Nadine and Anthony.

Ghosn faces three charges of financial misconduct, two involving alleged under-reporting of his salary and a third over a complex scheme in which he allegedly sought to transfer his losses to Nissan's books.

He has denied all the charges.

In Japan, his new lead defence lawyer, Junichiro Hironaka, said Monday his new bail application contained fresh elements he hoped would lead to a release "as soon as possible."

Hironaka, who has a reputation for securing acquittals for high-profile clients in a country where 99 per cent of cases results in a conviction, said there was a "realistic" chance that Ghosn would eventually be found innocent of all charges.

The Tokyo District Court is due to hand down its verdict on the latest bail application soon.

But so far, it has shown little inclination to end Ghosn's lengthy pre-trial detention, which has drawn some criticism internationally and from rights groups.

The family of former industrial tycoon Carlos Ghosn, currently held in Japan on tax evasion charges, is to appeal to the United Nations in a bid to have him released, one of his lawyers said Monday.

The family of former industrial tycoon Carlos Ghosn, currently held in Japan on tax evasion charges, is to appeal to the United Nations in a bid to have him released, one of his lawyers said Monday. Ghosn, 64, formerly in charge of the Nissan and Renault carmakers, has been in detention since his shock November 19 arrest and has tried repeatedly without success to secure bail. "We have decided to appeal to those UN bodies dealing with fundamental rights compliance," Francois Zimeray said, reading a statement issued by Ghosn's family. The appeal will be made to the Working Group on Arbitrary Detention, which is overseen by the UN Human Rights Council, he added. "Carlos Ghosn has now been held for over 100 days in Japan," in a place "with medieval rules", the statement said. The lawyer represents Ghosn's wife, Carole, who in a recent interview with Paris Match magazine described her husband's detention conditions as "deplorable", and children Caroline, Maya, Nadine and Anthony. Ghosn faces three charges of financial misconduct, two involving alleged under-reporting of his salary and a third over a complex scheme in which he allegedly sought to transfer his losses to Nissan's books. He has denied all the charges. In Japan, his new lead defence lawyer, Junichiro Hironaka, said Monday his new bail application contained fresh elements he hoped would lead to a release "as soon as possible." Hironaka, who has a reputation for securing acquittals for high-profile clients in a country where 99 per cent of cases results in a conviction, said there was a "realistic" chance that Ghosn would eventually be found innocent of all charges. The Tokyo District Court is due to hand down its verdict on the latest bail application soon. But so far, it has shown little inclination to end Ghosn's lengthy pre-trial detention, which has drawn some criticism internationally and from rights groups.

Carlos Ghosn family calls on UN to help release him, says lawyer

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

The three-way alliance of Renault, Nissan and Mitsubishi Motors is planning a deal to work with Google's Waymo to jointly develop self-driving taxis, Japan's Nikkei said Tuesday.

The three automakers are finalising tie-up negotiations with Waymo, a Google-affiliated developer of self-driving car technology, the business daily said on its website.

The two sides are expected to announce details of the deal "as early as this spring," it added.

One project that the joint operation is considering would involve developing unmanned taxis using Nissan and other vehicles under a new system that handles reservation and payments, the newspaper said.

In September last year, the alliance decided to use a Google operating system for their cars' information systems, and the tech giant has already forged similar deals with Fiat Chrysler Automobiles and Jaguar Land Rover.

The report comes as the alliance reels from the arrest of Carlos Ghosn, the auto tycoon who forged and led the partnership before his shock November 19 detention.

His arrest and subsequent indictment on three charges has exposed rifts between Nissan and Renault, which, together with Mitsubishi, make up the world's top-selling auto manufacturing group.

Born in a Google lab devoted to big-vision new technology, Waymo became a subsidiary of parent company Alphabet in 2016.

Waymo already runs a self-driving car service in Phoenix, Arizona.

Those taking part in the service can use a smartphone application to summon autonomous vehicles any time of day to get about in an area about 100 square miles at its maximum, according to Waymo chief John Krafcik.

The firm last year announced it was adding as many as 62,000 Fiat Chrysler minivans to its autonomous fleet in an expanded collaboration announced by the companies.

The three-way alliance of Renault, Nissan and Mitsubishi Motors is planning a deal to work with Google's Waymo to jointly develop self-driving taxis, Japan's Nikkei said Tuesday.

The three-way alliance of Renault, Nissan and Mitsubishi Motors is planning a deal to work with Google's Waymo to jointly develop self-driving taxis, Japan's Nikkei said Tuesday. The three automakers are finalising tie-up negotiations with Waymo, a Google-affiliated developer of self-driving car technology, the business daily said on its website. The two sides are expected to announce details of the deal "as early as this spring," it added. One project that the joint operation is considering would involve developing unmanned taxis using Nissan and other vehicles under a new system that handles reservation and payments, the newspaper said. In September last year, the alliance decided to use a Google operating system for their cars' information systems, and the tech giant has already forged similar deals with Fiat Chrysler Automobiles and Jaguar Land Rover. The report comes as the alliance reels from the arrest of Carlos Ghosn, the auto tycoon who forged and led the partnership before his shock November 19 detention. His arrest and subsequent indictment on three charges has exposed rifts between Nissan and Renault, which, together with Mitsubishi, make up the world's top-selling auto manufacturing group. Born in a Google lab devoted to big-vision new technology, Waymo became a subsidiary of parent company Alphabet in 2016. Waymo already runs a self-driving car service in Phoenix, Arizona. Those taking part in the service can use a smartphone application to summon autonomous vehicles any time of day to get about in an area about 100 square miles at its maximum, according to Waymo chief John Krafcik. The firm last year announced it was adding as many as 62,000 Fiat Chrysler minivans to its autonomous fleet in an expanded collaboration announced by the companies.

Renault-Nissan to work with Google's Waymo on driverless cars: Report

Britain on Monday will seek to reassure foreign investors worried about Britain leaving the EU after Japanese automaker Nissan said it was scrapping a major planned investment less than two months before Brexit.

Prime Minister Theresa May was due to hold a conference call with around 55 chairmen and chief executives of European multinationals with operations in Britain.

"She'll be stressing on that call the importance of the UK leaving the EU with a deal," her spokesman said.

Nissan's decision not to build its new X-Trail vehicle at its factory in Sunderland in northeast England was "very disappointing," he said, adding however that the company had confirmed no jobs would be lost as a result.

Business Secretary Greg Clark was also due to make a statement to parliament on Nissan as Brexit supporters and opponents fiercely debated whether the decision was motivated by Britain's impending withdrawal from the EU.

Britain is on course to crash out of the bloc on March 29 after MPs last month voted massively against a divorce deal struck between May and EU leaders in December.

Clark himself told the Financial Times that Nissan told him their decision was "a warning sign" of the damage that a no-deal Brexit could have on Britain's car sector.

'Still, time to reach agreement'

May is now seeking to renegotiate her deal, particularly its contentious "backstop" provision to keep the Irish border free-flowing, in a bid to secure parliament's support.

EU leaders have so far refused, and German Chancellor Angela Merkel repeated this on Monday, saying the Brexit agreement had been painstakingly negotiated and reopening it "is not on the agenda".

But speaking alongside Japanese Prime Minister Shinzo Abe in Tokyo, she said: "We want to do everything to avoid a no-deal because that would increase the uncertainty."

Merkel said questions about the backstop could be discussed in the so-called political agreement that accompanies the Brexit deal, adding: "We need to show creativity, we need to listen to each other.

"We can still use the time to come to an agreement over the things that are standing in our way if everyone shows goodwill."

In London, May has invited hardline eurosceptics and Remain supporters within her Conservative Party to come up with possible alternatives to the backstop.

The MPs were set to meet later on Monday and again on Tuesday and Wednesday.&nbsp;

May wrote in the Sunday Telegraph that she intends to return to Brussels where she will be "battling for Britain and Northern Ireland" to change the deal.

"If we stand together and speak with one voice, I believe we can find the right way forward," she wrote.

Meanwhile, Brexit figurehead Boris Johnson, Britain's former foreign secretary, warned that rumours of an imminent election could be a government "scare tactic" aimed at getting Conservative MPs to support a Brexit deal.

Writing in the Daily Telegraph, he said that "if Tory MPs were asked to go into electoral battle in the next few months, there would be a hole in the heart of our manifesto".

"I have no idea what we would say about the EU - because after two-and-a-half years of dither the truly astonishing feature of the UK position is that the big questions have still not been answered," he wrote.

Britain on Monday will seek to reassure foreign investors worried about Britain leaving the EU after Japanese automaker Nissan said it was scrapping a major planned investment less than two months before Brexit.

Britain on Monday will seek to reassure foreign investors worried about Britain leaving the EU after Japanese automaker Nissan said it was scrapping a major planned investment less than two months before Brexit. Prime Minister Theresa May was due to hold a conference call with around 55 chairmen and chief executives of European multinationals with operations in Britain. "She'll be stressing on that call the importance of the UK leaving the EU with a deal," her spokesman said. Nissan's decision not to build its new X-Trail vehicle at its factory in Sunderland in northeast England was "very disappointing," he said, adding however that the company had confirmed no jobs would be lost as a result. Business Secretary Greg Clark was also due to make a statement to parliament on Nissan as Brexit supporters and opponents fiercely debated whether the decision was motivated by Britain's impending withdrawal from the EU. Britain is on course to crash out of the bloc on March 29 after MPs last month voted massively against a divorce deal struck between May and EU leaders in December. Clark himself told the Financial Times that Nissan told him their decision was "a warning sign" of the damage that a no-deal Brexit could have on Britain's car sector. 'Still, time to reach agreement' May is now seeking to renegotiate her deal, particularly its contentious "backstop" provision to keep the Irish border free-flowing, in a bid to secure parliament's support. EU leaders have so far refused, and German Chancellor Angela Merkel repeated this on Monday, saying the Brexit agreement had been painstakingly negotiated and reopening it "is not on the agenda". But speaking alongside Japanese Prime Minister Shinzo Abe in Tokyo, she said: "We want to do everything to avoid a no-deal because that would increase the uncertainty." Merkel said questions about the backstop could be discussed in the so-called political agreement that accompanies the Brexit deal, adding: "We need to show creativity, we need to listen to each other. "We can still use the time to come to an agreement over the things that are standing in our way if everyone shows goodwill." In London, May has invited hardline eurosceptics and Remain supporters within her Conservative Party to come up with possible alternatives to the backstop. The MPs were set to meet later on Monday and again on Tuesday and Wednesday. May wrote in the Sunday Telegraph that she intends to return to Brussels where she will be "battling for Britain and Northern Ireland" to change the deal. "If we stand together and speak with one voice, I believe we can find the right way forward," she wrote. Meanwhile, Brexit figurehead Boris Johnson, Britain's former foreign secretary, warned that rumours of an imminent election could be a government "scare tactic" aimed at getting Conservative MPs to support a Brexit deal. Writing in the Daily Telegraph, he said that "if Tory MPs were asked to go into electoral battle in the next few months, there would be a hole in the heart of our manifesto". "I have no idea what we would say about the EU - because after two-and-a-half years of dither the truly astonishing feature of the UK position is that the big questions have still not been answered," he wrote.

UK seeks to reassure foreign investors over Brexit

Japanese car manufacturer Nissan announced Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government.

"While we have taken this decision for business reasons, the continued uncertainty around the UK's future relationship with the EU is not helping companies like ours to plan for the future," Nissan Europe Chairman Gianluca de Ficchy said in a statement.

The car giant announced in 2016 that it planned to build the model at its plant in Sunderland, but will now assemble it instead at Nissan's global production hub in Kyushu, Japan.&nbsp;

"Other future models planned for Nissan Sunderland Plant -- the next-generation Juke and Qashqai -- are unaffected," added the statement.

"A model like X-Trail is manufactured in multiple locations globally, and can, therefore, be re-evaluated based on changes to the business environment," said Hideyuki Sakamoto, Nissan's executive vice president for manufacturing and supply chain management.

Japanese car manufacturer Nissan announced Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government.

Japanese car manufacturer Nissan announced Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government. "While we have taken this decision for business reasons, the continued uncertainty around the UK's future relationship with the EU is not helping companies like ours to plan for the future," Nissan Europe Chairman Gianluca de Ficchy said in a statement. The car giant announced in 2016 that it planned to build the model at its plant in Sunderland, but will now assemble it instead at Nissan's global production hub in Kyushu, Japan. "Other future models planned for Nissan Sunderland Plant -- the next-generation Juke and Qashqai -- are unaffected," added the statement. "A model like X-Trail is manufactured in multiple locations globally, and can, therefore, be re-evaluated based on changes to the business environment," said Hideyuki Sakamoto, Nissan's executive vice president for manufacturing and supply chain management.

Nissan cancels investment plan for UK plant

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

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 

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

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

Defence lawyers for <a href="http://www.wionews.com/world/wrongly-accused-and-unfairly-detained-ex-nissan-chief-carlos-ghosn-tells-court-188904">Nissan ex-Chairman Carlos Ghosn</a> said they will seek his release on bail after Tokyo prosecutors indicted him on Friday on two new charges of financial misconduct.

The former executive - once lauded for rescuing a near-bankrupt Nissan - was charged with aggravated breach of trust for temporarily transferring personal investment losses to the automaker in 2008, and for understating his compensation for three years through March 2018, prosecutors said.

The charges were widely expected after Ghosn's arrest for those allegations last month. Under Japanese law, suspects can be held for 23 days before being formally charged.

Prosecutors on Friday also indicted Nissan Motor Co Ltd and former Representative Director Greg Kelly for under-reporting Ghosn's income for those three years. Kelly was arrested in November and released on bail on Christmas Day.

Ghosn, Kelly and Nissan have already been indicted for under-reporting Ghosn's income for the five years through 2015.

"This second indictment for Kelly comes as no surprise as it merely makes what was a five year period for the first into eight years," said Kelly's lawyer Yoichi Kitamura.

Kelly, who was hospitalised for treatment of a neck problem immediately after his release, cannot leave the country without special permission. He has denied the allegations.

Kitamura said he expects Ghosn and Kelly to be tried together on the two charges and that he will work closely with Ghosn's legal team to prepare for the trial.

In a court hearing on Tuesday, Ghosn denied the allegations, calling them "meritless" and "unsubstantiated".

Ghosn in court said he had asked Nissan to temporarily take on his foreign exchange contracts after the 2008-2009 financial crisis prompted his bank to call for more collateral. He said he did this to avoid having to resign and use his retirement allowance for collateral.

Motonari Otsuru, the head of Ghosn's legal team, said on Tuesday that Nissan had agreed to the arrangement on condition that any losses or gains would be Ghosn's. Ghosn said the contracts were transferred back to him and that Nissan did not incur a loss.

Bail

In response to the charges, Nissan said in a statement that it "takes this situation extremely seriously and expresses its deepest regret for any concern caused to its stakeholders."

It said it would "continue its efforts to strengthen its governance and compliance, including making accurate disclosures of corporate information."

As for Ghosn's alleged shifting of investment losses to Nissan, the company said it "does not in any way tolerate such misconduct and calls for strict penalties."

Otsuru said on Friday his team would apply for bail for Ghosn. However, it is uncommon for defendants in Japan who deny their charges to be granted bail ahead of trial.

Otsuru earlier this week said Ghosn would likely be held until the trial, which he said could begin in about six months.

Even if bail were granted, Ghosn would not likely be released until Tuesday given that Monday is public holiday, and all banks will be closed through the long weekend.

The boards of Nissan and its French 43.4 per cent owner, Renault SA, met on Thursday for an update on the Ghosn investigations, with Nissan later saying it remained committed to an alliance which has been strained by the case.

Also on Thursday, Ghosn's wife, Carole, issued a statement on his continued detention, asking Japanese authorities for more information on her husband's health after he ran a fever, saying she was worried about his recovery.

Defence lawyers for Nissan ex-Chairman Carlos Ghosn said they will seek his release on bail after Tokyo prosecutors indicted him on Friday on two new charges of financial misconduct.

Defence lawyers for Nissan ex-Chairman Carlos Ghosn said they will seek his release on bail after Tokyo prosecutors indicted him on Friday on two new charges of financial misconduct. The former executive - once lauded for rescuing a near-bankrupt Nissan - was charged with aggravated breach of trust for temporarily transferring personal investment losses to the automaker in 2008, and for understating his compensation for three years through March 2018, prosecutors said. The charges were widely expected after Ghosn's arrest for those allegations last month. Under Japanese law, suspects can be held for 23 days before being formally charged. Prosecutors on Friday also indicted Nissan Motor Co Ltd and former Representative Director Greg Kelly for under-reporting Ghosn's income for those three years. Kelly was arrested in November and released on bail on Christmas Day. Ghosn, Kelly and Nissan have already been indicted for under-reporting Ghosn's income for the five years through 2015. "This second indictment for Kelly comes as no surprise as it merely makes what was a five year period for the first into eight years," said Kelly's lawyer Yoichi Kitamura. Kelly, who was hospitalised for treatment of a neck problem immediately after his release, cannot leave the country without special permission. He has denied the allegations. Kitamura said he expects Ghosn and Kelly to be tried together on the two charges and that he will work closely with Ghosn's legal team to prepare for the trial. In a court hearing on Tuesday, Ghosn denied the allegations, calling them "meritless" and "unsubstantiated". Ghosn in court said he had asked Nissan to temporarily take on his foreign exchange contracts after the 2008-2009 financial crisis prompted his bank to call for more collateral. He said he did this to avoid having to resign and use his retirement allowance for collateral. Motonari Otsuru, the head of Ghosn's legal team, said on Tuesday that Nissan had agreed to the arrangement on condition that any losses or gains would be Ghosn's. Ghosn said the contracts were transferred back to him and that Nissan did not incur a loss. Bail In response to the charges, Nissan said in a statement that it "takes this situation extremely seriously and expresses its deepest regret for any concern caused to its stakeholders." It said it would "continue its efforts to strengthen its governance and compliance, including making accurate disclosures of corporate information." As for Ghosn's alleged shifting of investment losses to Nissan, the company said it "does not in any way tolerate such misconduct and calls for strict penalties." Otsuru said on Friday his team would apply for bail for Ghosn. However, it is uncommon for defendants in Japan who deny their charges to be granted bail ahead of trial. Otsuru earlier this week said Ghosn would likely be held until the trial, which he said could begin in about six months. Even if bail were granted, Ghosn would not likely be released until Tuesday given that Monday is public holiday, and all banks will be closed through the long weekend. The boards of Nissan and its French 43.4 per cent owner, Renault SA, met on Thursday for an update on the Ghosn investigations, with Nissan later saying it remained committed to an alliance which has been strained by the case. Also on Thursday, Ghosn's wife, Carole, issued a statement on his continued detention, asking Japanese authorities for more information on her husband's health after he ran a fever, saying she was worried about his recovery.

Ghosn lawyers seek bail after ex-Nissan chief indicted on two new charges

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

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

Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said.

Prosecutors arrested Ghosn for a third time on Friday, accusing him of 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 ($16.6 million) incurred on a swap contract he had with a bank which it did not name.

A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests.

"By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly.

According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority.

He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor.

Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers.

Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment.

Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia.

Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust. Nissan's own investigation is ongoing, and its scope continues to broaden."

'Prosecutors know more'

Ghosn's re-arrest – the latest twist in a saga that has jolted Nissan' alliance with France's Renault SA – came a day after a Tokyo court unexpectedly rejected a request from prosecutors to extend Ghosn's detention.

Unlike his previous arrests on allegations of under-reporting his compensation which he faced together with former representative director Greg Kelly, prosecutors have levelled these latest accusations against Ghosn only.

The Nissan sources with knowledge of the matter said the automaker's investigators concluded that Ghosn was unsuccessful in his attempt to have Nissan shoulder the losses directly.

Japan's Securities and Exchange Surveillance Commission had at some stage flagged Ghosn's attempt to have Nissan directly shoulder the losses as illegal, one of the sources said. It was not immediately clear what the SESC deemed illegal. A SESC spokesman said he could not comment on specific cases.

The sources declined to be identified as the results of Nissan's internal investigation have not been made public yet.

Ghosn then gained help from Al-Juffali who used his personal assets to provide collateral for a bank to issue a letter of credit that Tokyo-based Shinsei Bank had required of Ghosn, the sources said.

A spokesman for Shinsei said he could not comment on specific cases. Reuters was not able to determine the identity of the bank which issued the letter of credit.

The four payments arranged by Ghosn were made through a Nissan internal discretionary fund, known within the company as the 'CEO Reserve', to a Nissan unit which then paid a company owned by Al-Juffali, one of the sources said, without specifying the names of the companies.

The first payment of $3 million was made in fiscal 2009, followed by payments of $3.6 million, $3.9 million and $4.2 million in the three subsequent years, the sources added.

The sources said the Nissan investigators initially had not been looking at the transactions with the urgency prosecutors displayed last week.

"Prosecutors know more about this than we do," one of the sources said.

E. A. Juffali and Brothers was founded in 1946. The company set up electric power supply and telecommunications to some of Saudi Arabia's major cities and expanded into construction, insurance, vehicle manufacturing and distribution.

Established in October 2008, the Nissan Gulf joint venture was originally responsible for Nissan's marketing and sales strategy and dealer development in Saudi Arabia, Abu Dhabi, Kuwait, and Bahrain but the scope of the business has since been reduced to Kuwait and Bahrain for reasons that weren't immediately clear, one of the sources said.

Kelly was released on bail late on Christmas day but Ghosn remains in detention. After the latest allegations, prosecutors were granted permission to hold him for 10 days on Dec. 23 and will typically ask for another 10 days, which is usually approved.

Japanese prosecutors often arrest individuals repeatedly on different allegations linked to the same case. The practice allows them to hold suspects while they pursue their investigation and also means they can continue interrogations without the presence of a lawyer.

Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said.

Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for a third time on Friday, accusing him of 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 ($16.6 million) incurred on a swap contract he had with a bank which it did not name. A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests. "By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly. According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority. He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor. Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers. Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment. Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia. Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust. Nissan's own investigation is ongoing, and its scope continues to broaden." 'Prosecutors know more' Ghosn's re-arrest – the latest twist in a saga that has jolted Nissan' alliance with France's Renault SA – came a day after a Tokyo court unexpectedly rejected a request from prosecutors to extend Ghosn's detention. Unlike his previous arrests on allegations of under-reporting his compensation which he faced together with former representative director Greg Kelly, prosecutors have levelled these latest accusations against Ghosn only. The Nissan sources with knowledge of the matter said the automaker's investigators concluded that Ghosn was unsuccessful in his attempt to have Nissan shoulder the losses directly. Japan's Securities and Exchange Surveillance Commission had at some stage flagged Ghosn's attempt to have Nissan directly shoulder the losses as illegal, one of the sources said. It was not immediately clear what the SESC deemed illegal. A SESC spokesman said he could not comment on specific cases. The sources declined to be identified as the results of Nissan's internal investigation have not been made public yet. Ghosn then gained help from Al-Juffali who used his personal assets to provide collateral for a bank to issue a letter of credit that Tokyo-based Shinsei Bank had required of Ghosn, the sources said. A spokesman for Shinsei said he could not comment on specific cases. Reuters was not able to determine the identity of the bank which issued the letter of credit. The four payments arranged by Ghosn were made through a Nissan internal discretionary fund, known within the company as the 'CEO Reserve', to a Nissan unit which then paid a company owned by Al-Juffali, one of the sources said, without specifying the names of the companies. The first payment of $3 million was made in fiscal 2009, followed by payments of $3.6 million, $3.9 million and $4.2 million in the three subsequent years, the sources added. The sources said the Nissan investigators initially had not been looking at the transactions with the urgency prosecutors displayed last week. "Prosecutors know more about this than we do," one of the sources said. E. A. Juffali and Brothers was founded in 1946. The company set up electric power supply and telecommunications to some of Saudi Arabia's major cities and expanded into construction, insurance, vehicle manufacturing and distribution. Established in October 2008, the Nissan Gulf joint venture was originally responsible for Nissan's marketing and sales strategy and dealer development in Saudi Arabia, Abu Dhabi, Kuwait, and Bahrain but the scope of the business has since been reduced to Kuwait and Bahrain for reasons that weren't immediately clear, one of the sources said. Kelly was released on bail late on Christmas day but Ghosn remains in detention. After the latest allegations, prosecutors were granted permission to hold him for 10 days on Dec. 23 and will typically ask for another 10 days, which is usually approved. Japanese prosecutors often arrest individuals repeatedly on different allegations linked to the same case. The practice allows them to hold suspects while they pursue their investigation and also means they can continue interrogations without the presence of a lawyer.

New allegations against Ghosn concern payments to Saudi businessman

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

<a href="http://www.wionews.com/world/nissan-chairman-ghosn-faces-new-under-reporting-charge-worth-35-million-181672">Carlos Ghosn</a> is expected to be charged and face new allegations of financial misconduct Monday, meaning the once-revered auto tycoon is likely to be spending Christmas in a Japanese cell.

In a fall from grace that stunned the business world, the former Nissan chairman was arrested on November 19 on suspicion of under-declaring his income by some five billion yen ($44 million) between 2010 and 2015.

On Monday, authorities are expected to press formal charges over this allegation, and re-arrest him on suspicion that he also under-reported his income by a further four billion 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 attracted criticism internationally.

Monday represents the final day prosecutors can hold Ghosn and close aide Greg Kelly before either charging or re-arresting them, and a further arrest would allow them another 22 days of questioning.

In addition to charges against Ghosn, prosecutors are also preparing to indict Nissan itself, according to local media, as the company submitted the official documents that under-reported the income.

Ghosn denies the charges and is in a "combative" frame of mind, according to sources at Renault, the company he still formally leads -- even if the French car giant has appointed an interim chairman.

The Japanese firms in the three-way alliance with Renault -- Nissan and Mitsubishi Motors -- have both sacked the Franco-Lebanese-Brazilian as chairman.

Lebanese phoenix&nbsp;

The millionaire auto sector star, who attracted some criticism for a perceived lavish lifestyle, is now alone in a spartan cell in a Tokyo detention centre, in a tiny room measuring just three tatami mats -- around five square metres.

He has reportedly told embassy visitors he is being well treated but has complained of the cold, with Monday's temperature in the Japanese capital hovering around five degrees Celsius.

He spends his time reading books and news reports and is said to be unhappy about the rice-based food.

According to local news agency Kyodo, he 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 has not yet been definitively fixed.

A source close to the investigation has said Ghosn and Kelly allegedly put the system in place after a new law came in obliging the highest-paid members of the firm to declare their salary.

Ghosn is suspected of deferring part of his pay to avoid criticism from staff and shareholders that his salary was too generous.

"We are closely watching if he is actually indicted and then found guilty," said Satoru Takada, an analyst at TIW, a Tokyo-based research and consulting firm.

"If he is exempted from prosecution or found innocent, it is going to create huge confusion in Nissan's management," Takada told AFP.

It is unclear if Ghosn can be bailed before a potential trial.

In Japan, prosecutors and defendants begin a trial at a district court and can appeal to a high court and the Supreme Court. It may take several years before reaching a final judgement.&nbsp;

If found guilty, Ghosn could face a 10-year prison sentence.

The affair represents a staggering turnaround for a figure celebrated for saving Nissan from the brink of bankruptcy and rebuilding it as a money-making subsidiary of Renault.

Nissan has begun a process of choosing Ghosn's successor, with the final decision expected on December 17.

His arrest has sparked incredulity at Renault, which owns 43 percent of Nissan and says it has not seen a detailed account of the charges against Ghosn.

It has also fuelled anger in Lebanon, with digital billboards around Beirut proclaiming "We are all Carlos Ghosn" under a picture of the magnate.

"A Lebanese phoenix will not be scorched by a Japanese sun," Interior Minister Nohad Machnouk has declared.

Carlos Ghosn is expected to be charged and face new allegations of financial misconduct Monday, meaning the once-revered auto tycoon is likely to be spending Christmas in a Japanese cell.

Carlos Ghosn is expected to be charged and face new allegations of financial misconduct Monday, meaning the once-revered auto tycoon is likely to be spending Christmas in a Japanese cell. In a fall from grace that stunned the business world, the former Nissan chairman was arrested on November 19 on suspicion of under-declaring his income by some five billion yen ($44 million) between 2010 and 2015. On Monday, authorities are expected to press formal charges over this allegation, and re-arrest him on suspicion that he also under-reported his income by a further four billion 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 attracted criticism internationally. Monday represents the final day prosecutors can hold Ghosn and close aide Greg Kelly before either charging or re-arresting them, and a further arrest would allow them another 22 days of questioning. In addition to charges against Ghosn, prosecutors are also preparing to indict Nissan itself, according to local media, as the company submitted the official documents that under-reported the income. Ghosn denies the charges and is in a "combative" frame of mind, according to sources at Renault, the company he still formally leads -- even if the French car giant has appointed an interim chairman. The Japanese firms in the three-way alliance with Renault -- Nissan and Mitsubishi Motors -- have both sacked the Franco-Lebanese-Brazilian as chairman. Lebanese phoenix The millionaire auto sector star, who attracted some criticism for a perceived lavish lifestyle, is now alone in a spartan cell in a Tokyo detention centre, in a tiny room measuring just three tatami mats -- around five square metres. He has reportedly told embassy visitors he is being well treated but has complained of the cold, with Monday's temperature in the Japanese capital hovering around five degrees Celsius. He spends his time reading books and news reports and is said to be unhappy about the rice-based food. According to local news agency Kyodo, he 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 has not yet been definitively fixed. A source close to the investigation has said Ghosn and Kelly allegedly put the system in place after a new law came in obliging the highest-paid members of the firm to declare their salary. Ghosn is suspected of deferring part of his pay to avoid criticism from staff and shareholders that his salary was too generous. "We are closely watching if he is actually indicted and then found guilty," said Satoru Takada, an analyst at TIW, a Tokyo-based research and consulting firm. "If he is exempted from prosecution or found innocent, it is going to create huge confusion in Nissan's management," Takada told AFP. It is unclear if Ghosn can be bailed before a potential trial. In Japan, prosecutors and defendants begin a trial at a district court and can appeal to a high court and the Supreme Court. It may take several years before reaching a final judgement. If found guilty, Ghosn could face a 10-year prison sentence. The affair represents a staggering turnaround for a figure celebrated for saving Nissan from the brink of bankruptcy and rebuilding it as a money-making subsidiary of Renault. Nissan has begun a process of choosing Ghosn's successor, with the final decision expected on December 17. His arrest has sparked incredulity at Renault, which owns 43 percent of Nissan and says it has not seen a detailed account of the charges against Ghosn. It has also fuelled anger in Lebanon, with digital billboards around Beirut proclaiming "We are all Carlos Ghosn" under a picture of the magnate. "A Lebanese phoenix will not be scorched by a Japanese sun," Interior Minister Nohad Machnouk has declared.

Ex-Nissan chief Ghosn set to be charged, face new allegations

Ousted Nissan chairman Carlos Ghosn will face a further accusation of under-reporting his salary by about four billion yen ($35.5 million) over the last three years, Japanese media reported Wednesday.

Tokyo prosecutors plan to "rearrest" the business tycoon along with his right-hand man and former Nissan representative director Greg Kelly by Monday, according to major media including the Nikkei and the Mainichi newspapers.

If confirmed, the new allegation would come on top of an existing accusation that the pair conspired to understate Ghosn's pay by some five billion yen in official filings during the five years up to March 2015.

Japanese prosecutors declined to comment on the reports regarding the duo, who were arrested on November 19 and remain in custody.

In Japan, a suspect can be kept in custody and "rearrested" several times&nbsp; 
on different allegations, a system that has sparked some criticism in the international media.

They have yet to be officially charged with any crime and deny the allegations, reportedly insisting they had checked with authorities about the way they declared the money.

In a move that stunned the business world, Ghosn was arrested at a Tokyo airport on November 19 on suspicion of under-declaring his income.

Authorities then had 22 days to question him over these suspicions. That period runs out on Monday, meaning they are likely to rearrest him over the new allegations, giving them a further 22 days to interrogate the tycoon.

He is therefore likely to remain in detention until early next year at least.&nbsp;

Japan had long celebrated Ghosn as a charismatic business leader who saved Nissan from the brink of failure and rebuilt it as a money-making subsidiary of Renault.

But since his unexpected arrest, he has been removed from the boards of Nissan and Mitsubishi Motors -- the third company in the alliance that outsold all its rivals last year.

Nissan has begun a process of choosing Ghosn's successor, with the final decision expected on December 17.

Ousted Nissan chairman Carlos Ghosn will face a further accusation of under-reporting his salary by about four billion yen ($35.5 million) over the last three years, Japanese media reported Wednesday.

Ousted Nissan chairman Carlos Ghosn will face a further accusation of under-reporting his salary by about four billion yen ($35.5 million) over the last three years, Japanese media reported Wednesday. Tokyo prosecutors plan to "rearrest" the business tycoon along with his right-hand man and former Nissan representative director Greg Kelly by Monday, according to major media including the Nikkei and the Mainichi newspapers. If confirmed, the new allegation would come on top of an existing accusation that the pair conspired to understate Ghosn's pay by some five billion yen in official filings during the five years up to March 2015. Japanese prosecutors declined to comment on the reports regarding the duo, who were arrested on November 19 and remain in custody. In Japan, a suspect can be kept in custody and "rearrested" several times on different allegations, a system that has sparked some criticism in the international media. They have yet to be officially charged with any crime and deny the allegations, reportedly insisting they had checked with authorities about the way they declared the money. In a move that stunned the business world, Ghosn was arrested at a Tokyo airport on November 19 on suspicion of under-declaring his income. Authorities then had 22 days to question him over these suspicions. That period runs out on Monday, meaning they are likely to rearrest him over the new allegations, giving them a further 22 days to interrogate the tycoon. He is therefore likely to remain in detention until early next year at least. Japan had long celebrated Ghosn as a charismatic business leader who saved Nissan from the brink of failure and rebuilt it as a money-making subsidiary of Renault. But since his unexpected arrest, he has been removed from the boards of Nissan and Mitsubishi Motors -- the third company in the alliance that outsold all its rivals last year. Nissan has begun a process of choosing Ghosn's successor, with the final decision expected on December 17.

Nissan chairman Ghosn faces new under-reporting charge worth $35 million

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