Former Nissan chairman Carlos Ghosn has had his detention in Japan extended until January 11.
The Tokyo District Court extended Ghon's detention earlier this week. He has been held at a detention centre in Tokyo since allegations of financial misconduct and under reporting of income first emerged in November.
Go deeper with GlobalData
Nissan told Reuters that its own investigation is ongoing and that its 'scope continues to broaden'.
Late last year the investigation by Tokyo prosecutors extended to losses incurred by Ghosn's personal asset management company, which were allegedly passed on to Nissan. Reports said that Ghosn is suspected of transferring personal losses of 1.85 billion yen (US$16.6m) to Nissan in October 2008.
The losses were supposedly incurred from activities including currency derivative transactions. Prosecutors argue that Ghosn's actions conflicted with his role as a CEO by incurring losses on the company for the benefit of an individual or third party, resulting in a breach of trust.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
