Monday, May 27, 2019
Home Business Carlos Ghosn, former head of Nissan, granted bail in Japan. Once again.

Carlos Ghosn, former head of Nissan, granted bail in Japan. Once again.

A Tokyo district court announced Thursday morning that Ghosn had received a bail of 500 million yen ($ 4.5 million).

It's the latest development in a legal saga that the former chairman has seen from Nissan (NSANF) and Renault (RNLSY) arrested several times and imprisoned twice. Ghosn had already been released on bail at the beginning of March after 108 days in detention.
Ghosn was arrested again in early April for new charges of financial misconduct. The prosecution charges him with injecting Nissan's $ 5 million into a dealership he controls.

The deposed car Titan is also awaiting a lawsuit with separate charges that he has undervalued for years and abused his position by transferring personal wealth losses to Nissan.

He denies these allegations and accused executives at Nissan of conspiring to take him out of power.

Carlos Ghosn says he's the victim of a conspiracy from Nissan execs

"This is about a plot, it's about conspiracy, it's about backscattering," Ghosn said in a video that was taken before he was arrested again.

Since his first arrest in November, Ghosn has been displaced from his positions with Nissan and Mitsubishi and retired as chief executive and chairman of Renault. It is an amazing fall for a titan of the industry, once touted as a visionary, to build a strong global automotive alliance.

Nissan declined to release Ghosn on bail. He said an internal investigation revealed "significant evidence of apparently unethical behavior" from his former boss.

Yoko Wakatsuki contributed to this report.

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