Japan Court extends Carlos Ghosn Chief's detention until April 14 as latest allegations are most serious yet

April 05, 2019:

On Friday, a Japanese court ruled that Former Nissan boss Carlos Ghosn will remain in custody until at least April 14, as prosecutors quiz him over fresh allegations of financial misconduct.

The Tokyo District Court said in a statement it had accepted a request from prosecutors to detain the 65-year-old auto tycoon for a further 10-day period that can subsequently be extended once more.

The "full term of the detention is 14th" of April, the court said.

Authorities are looking into new allegations that Ghosn transferred some US$15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman.

They suspect around US$5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments.

Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan "in order to benefit himself."

Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents, and a further charge of seeking to shift investment losses to the firm.

Stephen Givens, an American attorney practicing law in Japan since 1987, told that the latest allegations were the most serious yet.

"If the facts are true... that is stealing from the company, that is embezzlement, that is terrible," said Mr Givens, who is not connected with the Ghosn case.

"If that's true, it is a serious charge. It differs very significantly from the previous charges that seem minor and technical. These are hurting Nissan or Nissan shareholders and benefiting Ghosn," Mr Givens added.

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