BUSINESS

Japanese court rejects request for Ghosn’s release

Japanese court

Tokyo: A court in Japan on Wednesday rejected a request by lawyers of former Nissan boss Carlos Ghosn to end his detention over alleged financial misconduct.

The Tokyo court rejected the appeal by Ghosn’s lawyers a day after the auto tycoon had pleaded innocence in his first appearance in court since his arrest over a month ago, public broadcaster NHK reported.

Ghosn’s defence team had made the bid for his release on the basis that one of the charges against him, an alleged breach of trust, was null and void.
Ghosn is accused of passing off a series of personal investment losses incurred by him in the wake of the 2008 financial crisis to Nissan’s books, but according to his lawyers, those actions were approved by the company’s management, Efe news cited NHK as saying.

Ghosn is also accused of under-reporting his income by tens of millions of dollars in documents to investors based on an understanding that he would receive them as post-retirement compensation.

During Tuesday’s court appearance, Judge Yuichi Tada defended the need for the executive’s continued detention, saying he presented a flight risk and that he might tamper with evidence if released. (IANS)

 

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