Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Nissan's Ghosn to make first public appearance in 7 weeks in court on Tuesday

Published 01/04/2019, 05:52 AM
© Reuters. FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends a press conference on the second press day of the Paris auto show, in Paris

By Sam Nussey

TOKYO (Reuters) - Ousted Nissan Motor Co Ltd (T:7201) chairman Carlos Ghosn is set to make his first public appearance in seven weeks at a Tokyo court on Tuesday after he requested an open hearing to hear the reason for his continued detention.

Ghosn has been held in a detention center since his Nov. 19 arrest on allegations of financial misconduct, which was followed by re-arrests over further allegations.

The hearing will take place at 10:30 local time (0130 GMT) on Jan. 8, the Tokyo District Court said on Friday. The reason behind the timing of Ghosn's request was not clear.

Earlier this week, the court approved an extension to Ghosn's detention until Jan. 11, after re-arrest by prosecutors who accuse him of aggravated breach of trust in transferring personal investment losses to Nissan.

Those allegations center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, sources said last week.

Ghosn has already been indicted for under-reporting his income. He has denied the allegations, local media has said.

Former Nissan executive Greg Kelly, who has been charged with conspiring to under-report Ghosn's income, has been released on bail after the court ruled against extending his detention while he awaits trial.

Ghosn's arrest was followed by his removal from roles at Nissan and Mitsubishi Motors Corp (T:7211). The case has rocked the auto industry and strained Nissan's ties with French partner Renault SA (PA:RENA) where he still remains chairman and chief executive.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The arrest has also put some of the practices of Japan's criminal justice system under international scrutiny, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.