MoneyEx-Nissan chairman Ghosn charged with breach of trust

13:30  11 january  2019
13:30  11 january  2019 Source:   msn.com

Disgraced former Nissan chairman Carlos Ghosn will remain in Japanese custody past New Year's Day

Disgraced former Nissan chairman Carlos Ghosn will remain in Japanese custody past New Year's Day It was a setback for the embattled former chairman of Nissan who is accused of engaging in financial improprieties in his executive role at Nissan.

Media says Ghosn was re-arrested on suspicion of aggravated breach of trust and could face further period of detention.

TOKYO — Carlos Ghosn , the former Nissan Motor chairman , was arrested again by The authorities rearrested Mr. Ghosn on suspicion of breach of trust related to a financial investment that If he were charged and found guilty of the new accusations, Mr. Ghosn could face up to 10 years in prison.

Ex-Nissan chairman Ghosn charged with breach of trust © David Parry Former Nissan chief executive Carlos Ghosn (David Parry/PA)

Former Nissan chairman Carlos Ghosn has been charged with breach of trust, Tokyo District Court officials said.

When he was first detained on November 19, Ghosn was charged with falsifying financial reports and under-reporting his income by about five billion yen (£34 million) over five years.

Greg Kelly, another Nissan executive, and Nissan as a legal entity were charged along with Ghosn with additional under-reporting of income, from 2015 to 2017.

Kelly and Nissan were not charged with breach of trust. Those allegations centre on Ghosn’s handling of investment losses and payments made to a Saudi businessman.

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Japanese prosecutors have again arrested former Nissan executive Carlos Ghosn on new charges of aggravated breach of trust , according to media. The Kyodo news agency reported that the prosecutors based their new charges on suspicions that Ghosn , who was the chairman of Nissan until the

Carmaker Nissan 's ex - chair Carlos Ghosn , arrested last month for breach of trust , is to be kept in pre-trial detention over Christmas and New Former Nissan chair charged with financial misconduct. According to Japan's state broadcaster NHK, Ghosn also benefited from having his former company

Sixty-four-year-old Ghosn said he is innocent, and his lawyer has said he will seek the former chairman’s release on bail.

Ex-Nissan chairman Ghosn charged with breach of trust © Provided by The Press Association A court sketch of Ghosn during his court appearance (Nobutoshi Katsuyama/Kyodo News/AP)

Suspects in Japan are routinely held for months until trials start.

Tokyo prosecutors say Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, is a flight risk.

Earlier this week Ghosn told a Tokyo court he was innocent, in his first public appearance since his arrest, and appealed for his detention to end. But the court rejected the request.

“I have a genuine love and appreciation for Nissan,” Ghosn told the court.

“In all of my efforts on behalf of the company, I have acted honourably, legally and with the knowledge and approval of the appropriate executives inside the company.”

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TOKYO — Prosecutors in Japan on Monday indicted Carlos Ghosn , the former chairman of Nissan Motor, and the auto company itself on charges that they had violated financial laws by underreporting Mr. Ghosn ’s compensation.

Nissan Motor chairman Carlos Ghosn was arrested last month for alleged financial misconduct, having led a remarkable turnaround at the Japanese automaker Ex - Nissan boss Carlos Ghosn faces new charges of aggravated breach of trust 21.12.2018. Japanese prosecutors have reportedly added

He said the compensation was never decided on, the investment deal did not result in any losses to Nissan, and the payments to the Saudi businessman was for legitimate services related to dealers and investments in the Gulf.

Ghosn, who appeared much thinner than before his arrest, came down with a fever the day after his court appearance, but has since recovered, his lawyer Motonari Ohtsuru said.

His wife Carole Ghosn has issued a statement expressing concern over his illness.

Ex-Nissan chairman Ghosn charged with breach of trust © Provided by The Press Association Ghosn’s lawyer, Motonari Otsuru (AP)

“I am pleading with the Japanese authorities to provide us with any information at all about my husband’s health. We are fearful and very worried his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment,” she said.

Before his sudden downfall, Ghosn was a respected figure in the global car industry, having rescued the Japanese firm from near-bankruptcy, building its sales operations and profits and pioneering ecological vehicles.

Data breach in Germany: Police search flat of teenage IT worker

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Ousted Nissan Chairman Carlos Ghosn declared his innocence in his first public appearance since his November arrest, telling a Tokyo court on Ghosn has been formally charged with under-reporting his income. He has also been arrested, but not yet indicted, on allegations of aggravated breach of

21 accusing former Nissan Motor Co. Chairman Carlos Ghosn of aggravated breach of trust under the Companies Act. The new arrest warrant accuses Ghosn of shifting approximately 1.85 billion yen in investment losses he suffered himself to Nissan in October 2008.

Nissan said an internal investigation began in the middle of last year after whistleblowers came forward.

Chief executive Hiroto Saikawa has denounced Ghosn, accusing him of using company money and assets for personal gain.

Ethics officials at Nissan’s alliance partner Renault SA of France concluded this week that financial compensation to members of the French carmaker’s executive committee in 2017 and 2018 was fraud-free.

The review was initiated after Ghosn was arrested. Ghosn remains CEO of Renault.

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