Ghosn to Appear in Tokyo Court on Tuesday

January 04, 2019 at 9:39 AM

Carlos Ghosn, the ousted chairman of Nissan Motor Co., will appear in open court in Tokyo on Jan. 8 to learn why he continues to be held without bail on charges of financial wrongdoing.

Ghosn, who was arrested on Nov. 19 and indicted on Dec. 10, requested the hearing, according to media reports. He will remain in custody until at least Jan. 11 after he was re-arrested on Dec. 21 on additional charges.

He was stripped of his Nissan and Mitsubishi Motors Corp. chairmanships shortly after his arrest. He remains the official chairman and CEO of Renault SA and chairman of the Renault-Nissan-Mitsubishi alliance.

Ghosn hasn’t been seen publicly since his incarceration. Under Japan’s legal system, he can be detained indefinitely as long as prosecutors add new charges every 20 days. In the meantime, he has irregular access to his defense attorney and hasn’t been allowed to see family members.

Ghosn was indicted for failing to report $43 million in deferred compensation. He was re-arrested on suspicion that he illegally transferred personal investment losses to Nissan. Japanese prosecutors also are investigating whether Nissan funds were misused to buy multiple homes in Europe, the Middle East and South America for Ghosn’s use.