May 16, 2021

Japanese justice hardens his accusation against Nissan and Ghosn's lawyer will ask for his bail | Economy

Japanese justice hardens his accusation against Nissan and Ghosn's lawyer will ask for his bail | Economy

The chief lawyer of Renault president Carlos Ghosn, who has been detained in Japan since November, announced on Friday that he will request the release on bail of his client, shortly after a new indictment in the Japanese justice system. "I am going to file a bail release request," attorney Motonari Otsuru said in a brief statement.

Ghosn's legal future was further clouded on Friday with the two new charges filed by the Japanese justice against him and against the automotive manufacturer of the Renault-Nissan alliance. Prosecutors indicted Ghosn on Friday for breach of confidence and reducing their profits in Nissan's stock reports between 2015 and 2018.

Disguise income

His right-hand man, Greg Kelly, released on bail on December 25, was also accused of reducing his earnings on financial reports, as did the Japanese automaker. Nissan was again accused of his responsibility in the dissimulation of income that is reproached to his ex-president Carlos Ghosn during the period 2015-2018, the Tokyo court announced.

The Japanese manufacturer was accused as a legal entity that delivered the incriminated stock market reports, and had already been accused on December 10 for the same reason, but in relation to the previous five years.

Both Ghosn, Kelly and Nissan had already been charged in December for reporting a reduced compensation in the previous five years.

Renault does not find irregularities

The car magnate, 64, has been detained in Japan since November 19, suspected of having hidden from the treasury an income as president of Nissan. The Tokyo court had dismissed another lawsuit Wednesday to end his detention. Ghosn, who claims his innocence, said on Tuesday he had been "falsely accused and unjustly detained."

Since his arrest, Renault has established an interim executive management, but Carlos Ghosn remains the group's CEO. However, he could remain in prison until his trial, scheduled for several months.

On the other hand, and hours before the Japanese justice returned to blame Ghosn and Nissan, the French manufacturer Renault said that after conducting an internal investigation into the remuneration of its president came to the conclusion that there was no fraud in his compensation of the years 2017 and 2018.

For its part, the French car group Renault has not found irregularities in the remuneration of its leaders in the years 2017 and 2018, according to the preliminary results of the internal investigation commission opened after the arrest in Japan of its president, Carlos Ghosn.

The commission yesterday rendered accounts to the Board of Directors met in an extraordinary manner and concluded the "compliance and absence of fraud" in the remuneration of the company's directors, Renault said in a statement.

From now on, the experts appointed by Renault will begin to study the previous exercises, he added. The internal investigation is being carried out by two members of the company ethics committee, Claude Baland and Eric Le Grand.

Renault opened this investigation after Ghosn, who maintains his position as president of the French brand, was arrested in Japan for alleged irregularities in his compensation at the head of Nissan, which was relieved after his arrest.


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