Tuesday , March 26 2019

Ghosn loses appeal against detention

Bloomberg

Carlos Ghosn lost an appeal against his ongoing detention, diminishing prospects of an early release on bail for the auto industry icon fighting charges of financial misconduct while he was heading Nissan Motor Co.
The Tokyo District Court rejected the petition filed by Ghosn’s defense team, according to a statement from the court shared with the media by the Foreign Press in Japan on Wednesday. The former Nissan chairman’s lawyers will appeal the decision in a higher court, NHK reported.
Wednesday’s decision by the judge means Ghosn could spend his time locked away in jail until an actual trial, which his main lawyer Motonari Otsuru has said may be six months away. Ghosn’s current custody ends on January 11, and prosecutors are likely to slap new charges or request another extension as they build a case against him.
Ghosn stands accused of understating his income by tens of millions of dollars and transferring personal trading losses to Nissan, an allegation prosecutors call “breach of trust.”

About Admin

Check Also

Buyout firms, pension funds to buy Inmarsat in $3.4bn deal

Bloomberg A group of private equity firms and pension funds agreed to buy Inmarsat Plc ...

Leave a Reply

Your email address will not be published. Required fields are marked *