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Ghosn's lawyer: Nissan agreed on transfer of currency contracts

Reuters  |  TOKYO 

(Reuters) - Motor Co had agreed with former to take on his personal foreign exchange contracts, his said, disputing allegations of financial misconduct.

Ghosn has been arrested on allegations including aggravated breach of trust in shifting personal investment losses worth 1.85 billion yen ($17 million) to the carmaker during the 2008-2009 financial crisis. Earlier on Tuesday, Ghosn declared his innocence to a court.

Motonari Otsuru, of Ghosn's Japan-based legal team, told reporters at a conference that the agreement with was based on the condition that any losses or gains from the currency swap contracts would be Ghosn's.

($1 = 108.8700 yen)

(Reporting by Tim Kelly and Naomi Tajitsu; Writing by Ritsuko Ando; Editing by Himani Sarkar)

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

First Published: Tue, January 08 2019. 12:26 IST