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Japanese court agrees to release Carlos Ghosn on $4.5M bail

By Darryl Coote
Bail was granted Thursday to former chairman of Nissan Carlos Ghosn in Tokyo, Japan. File Photo by Keizo Mori/UPI | <a href="/News_Photos/lp/964a88c9ec831b720e09a98e1be9a043/" target="_blank">License Photo</a>
Bail was granted Thursday to former chairman of Nissan Carlos Ghosn in Tokyo, Japan. File Photo by Keizo Mori/UPI | License Photo

April 24 (UPI) -- A Japanese court agreed Thursday to release former Nissan Motor Co. Chairman Carlos Ghosn on bail for a second time after he was indicted on new charges of funneling millions of company dollars to accounts he controlled.

Bail was set at $ 4.5 million, or 500 million Japanese yen, and Ghosn was expected to be released following confirmation of payment and if the court rejects the prosecution's objection, the Japan Times reported.

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Ghosn was arrested for a fourth time April 4 after having been free on bail for almost a month. He'd left the Tokyo Detention House March 6 after spending 108 days behind bars for charges of under-reporting his income at Nissan for years and abusing his position to funnel personal investment losses to the company.

The latest indictment charged Ghosn with breach of trust for causing $5 million in damages to Nissan by shifting money to Good Faith Investments that he controlled. Days following his initial arrest in November, Ghosn was removed as Nissan chairman and the automaker removed him from its board of directors.

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Ghosn has denied the charges and is expected to stand trial later this year.

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