Detained ex-Nissan exec Ghosn promises not to flee Japan if freed

(Reuters) – Ousted Nissan Motor Co (7201.T) Chairman Carlos Ghosn on Sunday promised to stay in Japan and observe restrictions in trade for his launch from jail within the newest effort to persuade a court docket to grant him bail whereas he awaits trial on costs of economic misconduct.

FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends the Tomorrow In Motion occasion on the eve of press day on the Paris Auto Show, in Paris, France, October 1, 2018. REUTERS/Regis Duvignau/File Photo

Ghosn, the veteran automotive government detained since his arrest on Nov. 19, has requested a Tokyo District Court for the second time to grant him bail after a request final week was denied. A listening to is scheduled for Monday night in Tokyo.

“I remain imprisoned in the detention center, 64 days after I was arrested, with no release in sight,” Ghosn stated in a press release on Sunday. “As the Court considers my bail application, I want to emphasize that I will reside in Japan and respect any and all bail conditions the Court concludes are warranted.”

Ghosn has denied three Japanese costs of economic misconduct, together with understating his wage for eight years and briefly transferring private monetary losses to Nissan’s books.

The Tokyo court docket final week denied his bail utility, citing considerations that he was a flight threat, an assertion the once-feted government disputes.

Ghosn had deliberate to make his means to France if launched and return to Japan for trial, however now intends to keep put, in accordance to an individual accustomed to the matter.

“I will attend my trial not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself,” Ghosn stated within the assertion. “I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom. Nothing is more important to me or to my family.”

The Japanese authorities might not be reached instantly for remark and a Nissan consultant had no quick remark.

Ghosn’s lawyer, Motonari Otsuru, expects his consumer to be held till trial, which he stated might start in about six months.

If granted bail, Ghosn stated he would stay in a Tokyo condominium and put on a monitoring machine to monitor his whereabouts, in accordance to an individual accustomed to the matter. Ghosn would additionally pay for personal safety guards to watch him, report each day to Japanese prosecutors and chorus from talking to people who is likely to be witnesses in his case, the particular person stated.

Ghosn hasn’t spoken to his household since being detained, the particular person stated.

Ghosn spearheaded Nissan’s turnaround 20 years in the past, and the case has jolted the auto trade, whereas muddying the outlook for Nissan’s three-way alliance with France’s Renault SA (RENA.PA) and Mitsubishi Motors Corp (7211.T).

Renault, which dominates the partnership by means of its 43.four % stake in Nissan, is predicted to meet inside days to think about potential candidates to change Ghosn as chief government officer and chairman.

Meanwhile, a panel made up of Nissan exterior administrators and third-party members held a briefing on Sunday after its first assembly to advocate methods to tighten lax governance and approval processes for issues together with director compensation and chairman choice.

“Having read the report on the internal investigation, my initial impression was that the head of the company may have had questionable ethical standards,” committee co-chair Seiichiro Nishioka informed the briefing.

Reporting by Mike Spector in New York; Additional reporting by Kiyoshi Takenaka and Tim Kelly in Tokyo; Editing by Jeffrey Benkoe

Our Standards:The Thomson Reuters Trust Principles.

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