Economy

Ghosn to make first public appearance since arrest

Ghosn to make first public appearance since arrest”

This is the latest twist in a series of twists that were completely unexpected. The hearing will take place at 10:30 local time (0130 GMT) on January 8, the Tokyo District Court said on Friday. He has demanded an open hearing so that Japanese prosecutors can explain his continued detention in jail.

Ghosn has been re-arrested twice since he was initially detained as prosecutors work to build a case against him.

In principle, a court session is held within five days of the submission of the request, and Ghosn would be allowed to appear in court to state his side of the case.

The embattled vehicle titan will attend a hearing of the Tokyo District Court on Tuesday, according to his chief lawyer, Motonari Otsuru.

Ghosn was served a fresh arrest warrant on December 21st on suspicion of aggravated breach of trust.

The authorities of Japan are pursuing three different courses of action against the former chairperson of Nissan who has been alleged of financial wrongdoings during his tenure as the chief of Nissan.

They suspect he conspired with his right-hand man, USA executive Greg Kelly, to hide away around half of his income (some five billion yen or $44 million) over five fiscal years from 2010.

As part of that scheme, he is also accused of having used Nissan funds to repay a Saudi acquaintance who put up collateral money.

Prosecutors have pressed formal charges over the first allegation but not yet over the other accusations.

"He wants to tell judges that he has not inflicted any losses on Nissan", a lawyer representing Ghosn said, referring specifically to new allegations against Ghosn that he had passed on his personal investment losses in the past to Nissan.

He has complained about the cold and the rice-based menu, sources say, though he has told embassy visitors he is being well-treated although he has shed a lot of weight.

Munoz is considered by many in the company to be a close ally of Ghosn, whose arrest has rocked the auto industry and strained Nissan's ties with French partner Renault SA where he still remains chairman and chief executive.

Ghosn's detention has also laid bare tensions in the alliance he created, which together sells more cars than any of its rival groups.

According to the public broadcaster, NHK, there could be a public hearing within five days.



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