Ousted Nissan chief to appear in court on January 8

Ousted Nissan chief to appear in court on January 8

Ousted Nissan chief to appear in court on January 8

Prosecutors, by this time, must make an ultimate decision as to whether or not to indict Ghosn over the myriad charges facing him.

The move follows the November arrest of former chairman Carlos Ghosn.

Ghosn was first arrested on November 19 on suspicion of violating the Financial Instruments and Exchange Law by under-reporting his annual remuneration at Nissan for the five-year period between fiscal 2010 and 2014.

Ghosn is spending the beginning of 2019 in detention after the court on New Year's Eve extended his detention through to January 11 on allegations of aggravated breach of trust. The once-revered auto tycoon has since been re-arrested over further allegations. That charge carries a maximum prison sentence of 10 years.

Prosecutors have also alleged that Ghosn temporarily shifted 1.85 billion yen ($16.6 million) of losses from his private investments onto a Nissan subsidiary as the global financial crisis erupted in October 2008. Both Ghosn and Kelly have denied the allegations through their lawyers.

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Visits from lawyers, family and friends are strictly controlled by prosecutors in Japan, making it hard for suspects to establish a defense or give their side of the story to the media.

Munoz is considered by many in the company to be a close ally of Ghosn, whose arrest has rocked the auto industry and strained Nissan's ties with French partner Renault SA where he still remains chairman and chief executive.

Meanwhile, Ghosn's close aide and another defendant in the underreporting case, Greg Kelly, 62, remains in hospital in Ibaraki Prefecture north of Tokyo following his release on bail on December 25. Nissan's board of directors dismissed Ghosn as chairman shortly following his arrest.

It has prompted some soul-searching at the Japanese automaker, which has acknowledged that too much power was concentrated with Ghosn after he oversaw the turnaround of the struggling automaker two decades ago following its rescue from the brink by Renault.

The detainee is allowed to state his opinions.

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