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Carlos Ghosn, Nissan’s Former Chairman Re-arrested in Japan

Japanese prosecutors have re-arrested Nissan Motor’s ousted chairman Carlos Ghosn over financial misconduct allegations on Friday, dashing chances he would soon be released on bail, media reported.

Speculation had been building that he could be detained for another 10 days.

Tokyo prosecutors said they have again arrested him on new allegations of aggravated breach of trust, which often refers to embezzlement in Japan. He has signed a contract in October 2008 that would have transferred trading losses totalling ¥1.85bn ($16.6m) from his own asset management company to Nissan.

Prosecutors stated: “The accused was responsible for managing Nissan’s overall operations and for dutifully fulfilling his role as chief executive not to cause damage to Nissan and its subsidiaries … but he took action that betrayed his role and caused financial damage to Nissan.” The prolonged detention of Ghosn has attracted international criticism.

Japanese media said Mr. Ghosn, chairman and chief executive of French carmaker Renault had acknowledged that he signed documents to defer part of his salary until after retirement but said the amount should not be declared as it had not yet been definitively fixed.

> Shiuly Rina



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