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Japanese court rejects request for Ghosn's release

IANS  |  Tokyo 

A court in on Wednesday rejected a request by lawyers of former boss to end his detention over alleged financial misconduct.

The rejected the appeal by Ghosn's lawyers a day after the auto tycoon had pleaded innocence in his first appearance in court since his arrest over a month ago, reported.

Ghosn's defence team had made the bid for his release on the basis that one of the charges against him, an alleged breach of trust, was null and void.

Ghosn is accused of passing off a series of personal investment losses incurred by him in the wake of the 2008 financial crisis to Nissan's books, but according to his lawyers, those actions were approved by the company's management, news cited as saying.

Ghosn is also accused of under-reporting his income by tens of millions of dollars in documents to investors based on an understanding that he would receive them as post-retirement compensation.

During Tuesday's court appearance, defended the need for the executive's continued detention, saying he presented a flight risk and that he might tamper with evidence if released.

There are three arrest warrants against Ghosn, but only one of them contains formal accusations on the alleged concealment of compensation agreed upon between 2011 and 2015.

On December 31, the had extended Ghosn's detention until January 11.

--IANS

soni/bg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 17:44 IST
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