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Carlos Ghosn released on bail

The Tokyo court agreed on Tuesday (March 4th) to release Carlos Ghosn on bail, saying the risk of leakage or tampering with evidence is low. The former CEO of Renault and Nissan will have to pay a deposit of one billion yen (8 million euros) to leave the Kosuge detention center where he spent three months.

Carlos Ghosn is however obliged to reside in Japan and must not leave the territory even for a brief stay. Arrangements have also been made to avoid his escape or destruction of evidence.

The new chief lawyer of the former CEO, filing a third bail application, the first two having been rejected, proposed that his client be placed under camera surveillance and has limited means of communication to the public.

Ghosn’s family, after the court’s decision, did not hide his joy. “We put an end to a detention that was absolutely cruel and brutal,” they assured.

However, the release of the businessman could be compromised as the Tokyo prosecutor’s office appealed the court’s decision. According to media, ”the prosecution could this time invoke payments made to acquaintances in Oman or business surrounding the acquisition of luxury apartments”. And adding that ”if these new charges are withheld, the prosecution could stop Carlos Ghosn”. This is what happened on December 10, 2018, when the court accepted a request for bail. Except that the prosecutors had promptly arrested him for new charges.

Recall that the former boss was arrested Monday, November 19 in Tokyo. He is accused of embezzlement by the Japanese automaker Nissan and is suspected of undervaluing his remuneration in financial reports. According to Nissan, Carlos Ghosn “concealed his income from the tax authorities”. He would have “for many years declared income below the real amount”.

“In addition, many other malpractices have been discovered, such as the use of corporate property for personal purposes,” says Nissan.

The sudden fall of Carlos Ghosn shocked the world. “What he did is unprecedented in Japanese business history,” said Kosuke Sato, an economist at the Japan Research Institute.

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