Ghosn, Nissan Saviour, Released on Bail in Japan

By: Yassmine ElSayed

CAIRO, Mar. 5 (SEE) - Carlos Ghosn, former Nissan chairman, has been granted bail by a court in Japan today, more than three months after he was arrested over allegations of financial misconduct.

The Tokyo district court set bail at 1bn yen ($9m) after a request last week by Ghosn’s newly appointed legal team, Kyodo news agency reported.

According to the British ‘Guardian’, Ghosn’s release is not guaranteed, as prosecutors have appealed against the court’s bail decision and could file additional allegations to keep him in detention.

Ghosn is accused of underreporting his income by tens of millions of dollars and transferring personal investment losses to Nissan – allegations he has repeatedly denied.

Two bail requests made last month by his previous defence team, led by the former prosecutor Motonari Otsuru, were rejected by the same court.

Ghosn’s head lawyer, Junichiro Hironaka, is nicknamed “the acquitter” for his success at winning acquittals in high-profile cases in Japan, where the conviction rate in court cases is 99%.

Hironaka said he was optimistic he could secure bail, provided Ghosn agreed to submit to greater surveillance and a limit on his electronic communications.

The case against the 64-year-old, who was hailed Nissan’s saviour two decades ago, has rocked Japan’s car industry and cast doubt over the future of the carmaker’s alliance with Renault.

Ghosn was first arrested on 19 November along with former Nissan executive director Greg Kelly. Kelly, who has denied helping Ghosn underreport his income, was freed on bail on Christmas Day.