Ghosn to stay in jail for Christmas after new charges filed today

A secret guard stands near step ladders of journalists outside Tokyo Detention Center where former Nissan chairman Carlos Ghosn and another former executive Greg Kelly are being detained

Japanese court denies extended detention of former Nissan boss Carlos Ghosn

Carlos Ghosn - the former chairman of Nissan, has been re-arrested on fresh charges of aggravated breach of trust.

"If he was released early out of consideration for worldwide opinion, the court could be considered a hero of sorts since the impression would spread that Japanese courts were different from the prosecutors", the high-ranking prosecutor said.

Prosecutors say Ghosn and Kelly are flight risks.

Ghosn and another former Nissan executive, Greg Kelly, were arrested November 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. The rearrest gives prosecutors the right to detain Ghosn for at least a further 10 days and possibly longer, while potentially hurting his chances for bail after that. The lawyer has previously declined to return calls for comment on the Ghosn case.

The executive, who formed a carmaking alliance among Nissan, Mitsubishi Motors Corp and France's Renault SA, said he is not a flight risk and wants to be able to travel overseas, the report said.

He was given a second arrest warrant on December 10 for allegedly understating an additional 4.27 billion yen (38.4 million US dollars) for the three years through March this year. At the same time, Nissan is also trying to block access to homes used by Ghosn in Beirut and Rio de Janeiro (roughly worth RM36.6 million and RM12.54 million respectively), part of a global network of real estate owned by the carmaker and provided to its ousted chairman.

Greg Kelly, a former Nissan director accused of helping Ghosn under-report his income, was also indicted last week.

Japanese court denies extended detention of former Nissan boss Carlos Ghosn
Nissan chairman Carlos Ghosn re-arrested in Japan – reports

Following Friday's announcement by prosecutors, Ghosn's Tokyo-based lawyer Motonari Otsuru said his client maintains his innocence and hopes to restore his honor at trial, according to The Wall Street Journal. "If there was a conviction, I think it would mean that there's been a judgment that it's more than just typical self-dealing corporate malfeasance but something that really harmed the company and was particular malevolent in terms of the amount of planning that went into it".

Ghosn earlier told his lawyer that he had planned to shift the investment losses to the company but stopped short of doing so. It has put off a decision on Ghosn's replacement.

Both Ghosn and Kelly have originally been charged with failure to report to regulators billions of yen in remuneration for Ghosn since 2010.

Nissan, which has also been indicted in the case, said the alleged misconduct was first brought to its attention by a whistleblower, which led to an internal investigation that uncovered serious problems.

Renault has been much more cautious, keeping him on as chairman and CEO and appointing Thierry Bollore as interim boss.

Documents seen by Reuters showed that executives at both Nissan and Renault were involved in discussions about compensating Ghosn out of the public eye.

Kelly's wife, Donna Kelly, said in a video message carried by TV Asahi and other networks that her husband was "wrongly accused as part of a power grab" at Nissan.

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