Ghosn Indicted on Two More Charges in Japan

January 11, 2019 at 2:16 AM

Prosecutors in Japan have prolonged jail time for former Nissan Motor Co. Chairman Carlos Ghosn by filing two new charges against him.

Ghosn was indicted on Dec. 10 of underreporting his true compensation by $43 million between 2010 and 2014. Today’s charges are for misstating his income through last year and for transferring losses on personal exchange rate investments to Nissan in 2008.

Ghosn appeared in court on Jan. 8 to protest his innocence of both charges and plead that he has been unfairly detained. The judge responded that Ghosn should remain in custody as a flight risk who might destroy evidence if he is released on bail.

Under Japanese law, prosecutors can incarcerate suspects almost indefinitely by periodically adding new charges. Earlier this week Ghosn’s lawyer said the former executive is likely to remain in jail until about June when he is tried for the first indicted offense.

Ghosn continues as the official chairman and CEO of Renault SA, although those roles have been assigned on an interim basis to other executives. Renault says it has found no evidence of financial wrongdoing by Ghosn relating to the French company’s operations.