Renault, Nissan boards get investigation updates before expected new Ghosn indictment

Carlos Ghosn: Ex-Nissan chair faces 'two new charges'

Carlos Ghosn indicted on two new charges

Tokyo prosecutors charged former Nissan Motor Co.

Ghosn has remained in custody at the Tokyo Detention House since Tokyo prosecutors arrested him on November 19 along with close American aide Greg Kelly, who has been released on bail, for allegedly understating his remuneration in Nissan securities reports submitted to Japanese regulators during a five-year period through March 2015.

The breach of trust charge alleges that 1.8 billion yen ($16.7 million) in damage was caused to Nissan through transactions made by Ghosn, and that $14.7 million was paid to the Saudi businessman.

The prosecutors, meanwhile, believe Ghosn committed aggravated breach of trust the moment he transferred the contract to Nissan.

Nissan's former chairman Carlos Ghosn has recovered from a fever, his lawyer Motonari Ohtsuru said Friday as the 64-year-old executive's latest detention period was set to expire.

He may be accused of understating his salary from 2015 to 2018, three years more than the original charge that he under-reported some five billion yen ($44 million) in income over five years from 2010.

Friday marked the last day of Ghosn's detention period approved by the Tokyo District Court and prosecutors had to decide whether to indict or release him.

An appeal to end his detention was also rejected. Additionally, Ghosn claimed that funds from Nissan never settled his personal investment debts.

His lawyers said they would apply for bail, but experts say this request is very unlikely to be granted.

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Ghosn, arrested November 19, was earlier charged with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. Nissan has dismissed Kelly from his role as a representative director.

Carlos Ghosn could spend the next year in a Tokyo jail awaiting trial after he was indicted for the second time since his arrest almost two months ago.

"We have judged that we can secure a guilty" verdict against Ghosn, said Shin Kukimoto, deputy head at the Tokyo District Public Prosecutors Office.

Renault, which is the biggest shareholder in Nissan, has refrained from removing Ghosn, instead appointing interim replacements.

Ghosn's aide Greg Kelly, who was arrested at the same time over his alleged role in helping the executive understate his pay, was released on a bail at $635 000 (over R8m) on December 25.

Ghosn has admitted that the ownership of the contract was temporarily transferred from his private asset management firm to Nissan but said the automaker incurred no losses. In a statement, Nissan said that Munoz had "elected to resign" from the company, effective immediately.

At their own informal meeting, Renault directors were updated on the company's compliance investigation, which is verifying payments to top executives.

The French automaker has said internal investigations have found no signs of wrongdoing by its chief during his tenure.

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