YOKOHAMA (dpa-AFX) - Former Nissan Motor Co. (NSANF.PK, NSANY.PK) Chairman Carlos Ghosn is set to stay in jail at least until March after the Tokyo District Court upheld its earlier decision to deny his release on bail, according to the reports.
Defense lawyers appealed the Tuesday ruling but Judge Iwao Maeda rejected the appeal Thursday. When defendants aren't granted bail, they must stay in jail for at least two months after charges are filed - a period that ends March 10 in Ghosn's case - and after that, the court reviews the detention each month. Defense lawyers can seek a client's release on bail at any time, but they generally wait for a new development in the case to try again.
The reports indicated that Ghosn's lawyer, Motonari Otsuru, initially said he would appeal Thursday's ruling to the Supreme Court, but he changed course Friday and said he would try again at the lower court with a new bail request.
Ghosn was arrested November 19 and has been held since then at the Tokyo Detention House. He is charged with understating his compensation by more than $80 million over eight years of Nissan's financial reports and with causing Nissan to pay the company of a Saudi Arabian friend who helped him with a personal financial problem. The latest charges were filed January 11 and cleared the way for Ghosn to seek his release on bail. Ghosn says he is innocent.
Copyright RTT News/dpa-AFX