POST Online Media Lite Edition


Nissan ex-chairman Ghosn pays $4.5 million bail

Christian Fernsby |
Ex Nissan Motor chairman Carlos Ghosn was granted bail for the second time on Thursday by the Tokyo District Court, partly because it determined there was no risk of evidence tampering, legal experts have said.

Article continues below

“He had already established, after a great deal of time and effort on the part of his lawyers, that he was not a risk to escape or to tamper with evidence or witnesses,” said Stephen Givens, a Tokyo-based corporate lawyer.

Thursday’s bail was set at ¥500 million. As soon as the payment is confirmed and if the court overrules objections expected to be filed by prosecutors, Ghosn could be set for release as early as Thursday, according to local media reports.

Ghosn was indicted Monday on a charge of misappropriating the company’s money for personal use, for which he had already been rearrested earlier this month while on bail.

Specifically, he is accused of expropriating a Nissan subsidiary’s payments to a distributor in Oman. Prosecutors claim part of the money, about ¥560 million, had been sent to Good Faith Investments, a Lebanese firm he effectively controlled, for his own interest.

What to read next

Ghosn faces re-arrest but law consultants say there was no wrongdoing
Former Nissan chief Ghosn's latest bail request rejected by Tokyo court
Tokyo court plans to hold Ghosn trial in September