Carlos Ghosn granted bail for one billion yen after third attempt to secure release

Carlos Ghosn granted bail for one billion yen after third attempt to secure release

FORMER Nissan boss Carlos Ghosn has been granted bail for one billion yen after nearly four months in custody pending trial.

Ghosn, who turns 65 on Saturday, was arrested in Tokyo on November 19 and subsequently indicted on three charges – two of falsifying financial reports in under-reporting his pay from Nissan over eight years, and one of breach of trust. He denies all the charges.

Tokyo District Court said today that it had approved his release on conditional bail of one billion yen (circa £6.8m), and he could be released later in the day.

It was the third attempt to secure his release, with the latest application lodged by a new legal team.

The bail conditions stipulate that Ghosn must remain in Japan and stay under video surveillance.

Nissan – which is part of a tri-automotive alliance with Renault and Mitsubishi – ditched him from his executive position following his arrest, as did its fellow Japanese manufacturer, where he was also chairman, but Renault kept him on, although he stepped down from the French brand in January after it came under increasing pressure to remove him from his post.

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