Japanese court rejects request to extend Nissan's ex-chairman Carlos Ghosn's detention
Nissan Motor Co.'s former Chairman Carlos Ghosn moved closer to being released on bail after a Japanese court on Thursday rejected a request by prosecutors to extend his detention.
 
Ghosn's arrest in Tokyo last month on allegations of financial misconduct rocked the global car industry and put strains on the alliance he presided over between Nissan and Renault.
 
He remained in jail on Thursday as prosecutors filed an appeal of the Tokyo District Court's decision. If that appeal is also turned down, the top auto executive's lawyer will seek bail, Efe news cited a person familiar with Ghosn's defence as saying. 
 
Ghosn was indicted on December 10 on charges of underreporting his income on Nissan's financial statements over a five-year period that ended on March 2015. Prosecutors cited additional suspicions that he underreported his income for the three years that ended on March 2018. 
 
On Thursday, they sought to hold Ghosn for 10 more days without the possibility of bail on the basis of those additional suspicions, but in a surprise move, the Tokyo court rejected the request. 
 
The court also denied a request from prosecutors to extend the detention of Greg Kelly, a former Nissan Director accused of helping Ghosn under-report his compensation.
 
A Nissan spokesman declined to comment on the court's decision, saying the pair's detention was a matter for prosecutors. 
 
After his arrest, Ghosn was stripped of his role as chairman at Nissan and Mitsubishi Motors, while Renault appointed interim management but kept Ghosn on the payroll.
 
"It's quite rare for a court to reject a request to extend detention by the special investigative division of prosecutors that is handling this case," said Yoji Ochiai, a lawyer and former prosecutor. 
 
"I was a prosecutor for a long time and never heard of such a decision," he said, adding that the court may have been swayed by criticism from abroad regarding Ghosn's lengthy detention. 
 
Ghosn maintains his innocence, according to the person familiar with his legal defence. His Japanese lawyer, Motonari Otsuru, couldn't be reached for comment. 
 
The wife of Ghosn's alleged accomplice Greg Kelly expressed concern for her husband's medical condition in a video statement sent to the Wall Street Journal. 
 
Kelly has been diagnosed with a spinal ailment called spinal stenosis, which requires surgery to fix. 
 
"Kelly experiences numbness and shooting pains in his extremities and his symptoms have worsened since his detention," said his wife, adding that the symptoms could become permanent if he doesn't have the surgery within two months. 
 
The Tokyo prosecutors office, however, said that Kelly was receiving proper care in detention.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

  • User

    The Cost of the Office? Trump’s Billion-Dollar Loss
    A new investigation by Forbes magazine finds the president’s net worth has dropped significantly since he took office.
     
    Nearly 20 years ago, Donald Trump told Fortune magazine that he could run for president and make money doing it.
     
    “It’s very possible that I could be the first presidential candidate to run and make money on it,” he said in an interview in 2000.
     
    But now that he’s president, the story is looking a bit different. A new report from Forbes concluded that the presidency has not enriched Trump overall: Measuring Trump’s net worth before he announced his run for the presidency in 2015 to the last two years, Trump’s fortune has dropped from $4.5 billion to $3.1 billion.
     
    In a statement to the magazine, Eric Trump, who is co-managing the Trump Organization, said: “My father made a tremendous sacrifice when he left a company that he spent his entire life building to go into politics. Everything he does is for the good” of the American people.
     
    In this “Trump, Inc.” extra, Charlie Herman talks with one of the Forbes reporters who looked into Trump’s finances, Dan Alexander, and how Trump could have saved millions (and prevented a lot of headaches as well).
     

     
    Courtesy: ProPublica.org
     
  • Like this story? Get our top stories by email.

    User

    Trump says he has 'great' relations with Modi, India will cut tariff
    United States President Donald Trump said on Monday that he has a "great" relationship with Prime Minister Narendra Modi who has told him that India is going to reduce substantially the tariffs on imports from the US.
     
    He said that "tariff king" India on its own has reached out to the US to make a trade deal, without Washington calling New Delhi for negotiations.
     
    He was speaking at a White House news conference on the revised North American Trade Agreement with Canada and Mexico -- a landmark deal that fulfills one of his election promises.
     
    Answering a question from a reporter, he said, "I have spoken Prime Minister Modi and he is going to reduce them (tariffs) very substantially."
     
    He added, "My relationship with India is great, with Prime Minister Modi is great. And they are going to start doing a lot."
     
    Scoring a domestic political point, he asserted that as in the case of the NAFTA and and other trade issues, none of the previous presidents or trade representatives had spoken to India about the high tariffs.
     
    He quoted Modi as telling him, "Nobody every spoke to me" about the high tariffs.
     
    "They (India) have called us to make a deal, we didn't even call them; they called us to make a deal, which is like shocking to people," he added.
     
    Trump explained that he called India a "tariff king" because "it charges us tremendous tariffs."
     
    He cited the example Harley Davidson motorcycles, which would resonate with bikers who are a section of his electoral base, saying that India charged 100 per cent duties on it.
     
    He said, "That is so high that it is like barrier, in other words who is going to buy it if it costs you so much."
     
    "Now they have reduced that substantially, but it is still too high," he asserted.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

     

  • User

    COMMENTS

    BV SUDHANVA

    1 year ago

    As we say in kannada MANTRAKKINTA UGULE JASTI.

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 3 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)
    FREE: Your Complete Family Record Book
    Keep all the Personal and Financial Details of You & Your Family. In One Place So That`s Its Easy for Anyone to Find Anytime
    We promise not to share your email id with anyone