Carlos Ghosn makes his first court appearance since arrest

Carlos Ghosn makes his first court appearance since arrest

Carlos Ghosn makes his first court appearance since arrest

Carlos Ghosn will speak publicly on Tuesday (Jan 8) for the first time since his arrest nearly two months ago, when he appears in a Japanese court. Mr Otsuru is due to read a statement from Ghosn. "I am wrongfully accused". "Even though their proposals were very attractive, I could not in good conscience abandon Nissan while we were in the midst of our turnaround", he said.

"A captain doesn't jump ship in the middle of a storm", he said.

The once high-flying executive, dressed in a dark suit and without a tie, was handcuffed as he entered the court; a rope around his waist. Two guards who led him in uncuffed him and sat with him on a bench.

The hearing was requested by Ghosn's lawyers to explain the reasons for his prolonged detention since 19 November. "There is no risk that the suspect will destroy evidence", he said.

"I have a genuine love and appreciation for Nissan", he said. In keeping with Japanese regulations, he has been allowed visits only from his lawyers and consular officials.

He says in a statement he has been "wrongly accused and unfairly detained".

He also said payments questioned by prosecutors and by Nissan that were made to Khaled Juffali, a Saudi businessman, were for real work he did to sort out problems with a local distributor.

Before the hearing, the Khaled Juffali Company issued a statement saying the $14.7 million in payments over four years from Nissan "were for legitimate business purposes in order to support and promote Nissan's business strategy in the Kingdom of Saudi Arabia and included reimbursement for business expenses".

It's the executive's first opportunity to mount a defence in person following industry-shaking allegations that he under-reported his compensation and transferred personal trading losses to Nissan. The company suffered no losses, he said.

The case has rattled Nissan's alliance with French automaker Renault SA, where Ghosn still remains chairman and chief executive.

While he was dismissed as Nissan chairman shortly after his arrest, Renault has kept him on as chairman and chief executive officer because it needs evidence of wrongdoing. His arrest has rocked the world's largest auto pact, amid speculation it was part of a coup by forces within Nissan aimed at staving off a merger of the carmakers.

Chance the Rapper publicly apologizes for working with R. Kelly
A synopsis for the series on Lifetime's website reads: "In the ground-breaking documentary series Surviving R. She also stated that it was over concern for her children that she didn't speak out previously.

Ghosn would spend most of his time defending himself against accusations of financial improprieties rather than running a company, and his position at Renault is seen as unrecoverable, according to people close to Renault's leadership team, who asked not to be identified discussing internal company matters.

His courtroom appearance drew worldwide attention, with throngs of cameras set up outside the Tokyo Detention Center on Tuesday to capture his departure.

Mr Ghosn sought to highlight his loyalty to Nissan and he spoke of "a genuine love and appreciation" for the company.

Carlos Ghosn said the charges are meritless and unsubstantiated. Kelly, an American, was released on bail on December 25. He also has maintained his innocence.

Ghosn's detention now runs through January 11. The latest is suspicion of breach of trust stemming from the claim he had Nissan temporarily shoulder his personal investment losses. In Japan, indictment paves the way for prosecutors to lay formal charges.

A court rejected a further extension of that set - raising the possibility of Ghosn's release on bail - but in another twist, prosecutors slapped the tycoon with a third set of allegations, restarting the whole process.

Ghosn's detention now runs through Friday.

- What is Ghosn accused of?

Instead, he chose to "ask Nissan to temporarily take on the collateral, so long as it came to no cost to the company. the FX contracts were then transferred back to me without Nissan incurring any loss".

Under Japanese law, falsifying financial reporting carries the maximum penalty of 10 years in prison, a 10 million yen ($89,000) fine, or both. Nissan, where allegations of wrongdoing surfaced, moved swiftly to remove him from his post after his arrest on November 19, while Renault nominally kept him in place as it awaits more evidence of malfeasance.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.