Carlos Ghosn starts 2019 as 2018 finished - in a Tokyo detention centre, bail refused

Carlos Ghosn starts 2019 as 2018 finished - in a Tokyo detention centre, bail refused

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.

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.

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more