Tokyo Court Rules To Release Ex-Nissan Chairman Ghosn On Bail - Reports

Tokyo Court Rules to Release Ex-Nissan Chairman Ghosn on Bail - Reports

A Tokyo court has ruled to release former chairman of carmaker Nissan, Carlos Ghosn, on bail, the Kyodo news agency reported on Tuesday

TOKYO (Pakistan Point News / Sputnik - 05th March, 2019) A Tokyo court has ruled to release former chairman of carmaker Nissan, Carlos Ghosn, on bail, the Kyodo news agency reported on Tuesday.

The amount of bail was set at 1 billion Yen (about $9 million), the agency reported.

According to the NHK broadcaster, Ghosn may be released later in the day.

Ghosn and Greg Kelly, his right-hand man, were arrested in Tokyo on November 19 on allegations of misreporting Ghosn's earnings to Nissan over a five-year period from 2010. On December 25, Kelly was released on bail. Following the arrest, Nissan removed Ghosn from the post of its chairman. In January, Ghosn resigned as chairman and CEO of Renault, which prompted the French automaker to conduct a management reshuffle.

Ghosn recently changed his lawyer. The new defender insists that the case is actually the company's internal matter.