August 25, 2019, 1:37


Tokyo Court Grants Ex-Nissan Head Ghosn Bail – Reports

Tokyo Court Grants Ex-Nissan Head Ghosn Bail – Reports

Ghosn was arrested in Tokyo on allegations of financial misconduct, as prosecutors accused him of underreporting his income and transferring to Nissan his personal trading losses worth an estimated $16 million in 2008.

Tokyo court has granted ex-chairman of Nissan Carlos Ghosn bail, local media reported. According to NHK Ghosn could be released as early as Tuesday. The ex-Nissan head bail has reportedly been set at 1 billion yen (Nearly 9 million US dollars).

READ MORE: French Fin Minister Denies Reports About Talks on Possible Renault-Nissan Merger

Carlos Ghosn has been in custody at a detention centre in Tokyo since his initial arrest on November 19.

Nissan’s board of directors dismissed Ghosn as chairman shortly after his arrest in November. French President Emmanuel Macron, when addressing the situation, reportedly urged Tokyo to agree to a merger between Renault SA and Nissan Motor Co.

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