The Tokyo District Court on Friday extended the detention of former Nissan Motor Co. Chairman Carlos Ghosn to April 22 to allow prosecutors to further investigate allegations of his financial misconduct.
Ghosn was arrested for a fourth time on April 4 on suspicion of aggravated breach of trust connected to the misuse of Nissan funds causing a $5 million loss to the automaker.
He was supposed to be held until Sunday, prior to the court extending his detention, Xinhua news agency reported.
Ghosn's legal team on Friday appealed against Tokyo court's decision to extend his detention, with his lawyer Junichiro Hironaka likening the judicial system in Japan, which allows for the lengthy detention of suspects, to "hostage justice".
The Brazilian-born businessman who also has French and Lebanese nationality, was first arrested on November 19 on charges of under-reporting his income for years in Nissan's securities reports and went on to spent 108 days in detention.
He has also been indicted on another charge of aggravated breach of trust connected to allegations that he transferred private investment losses to Nissan.
On Thursday, Ghosn's wife Carole was questioned by prosecutors in the Tokyo court in connection to the latest allegations of the misuse of Nissan's funds which may have been sent to a company she owns and used for personal reasons.
Her company, based in the British Virgin Islands, a known tax haven, is thought to have possibly received the funds which were used in part to purchase a luxury yacht worth 1.6 billion yen ($14 million) for use by the Ghosn family.
Nissan Motor Co. shareholders earlier this week removed Ghosn from its board, severing a near two-decade relationship with the once-feted auto executive who is widely credit for rescuing Nissan from near-bankruptcy in 1999.
In a video message released earlier this week by his lawyers, Ghosn maintained his innocence and claimed that he had been "the victim of a conspiracy at Nissan involving other executives".
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)