Business / Corporate

Court OKs change of residence in Tokyo for bailed former Nissan boss Carlos Ghosn

Kyodo

Former Nissan Motor Co. Chairman Carlos Ghosn has been permitted by a court to change his residence to a house in Tokyo from a condominium while he is on bail, investigative sources said Thursday.

The 65-year-old ousted chairman, who has denied all charges of financial misconduct, made the request to move into a house in Minato Ward after he was released on bail set at ¥500 million ($4.5 million) on April 26.

Under the bail conditions Ghosn’s residence was restricted to a condominium in Shibuya Ward in the capital, and he was prohibited from making contact with his wife without approval from the Tokyo District Court.

The condominium was designated as his residence following his first release on ¥1 billion bail on March 5, after his initial arrest in mid-November over allegations of underreporting his remuneration for years.

Ghosn was then rearrested on April 4. In his fourth indictment, Ghosn was accused of having a Nissan subsidiary in the United Arab Emirates pay a total of $10 million to a distributor in Oman between July 2017 and last July, and having $5 million of that transferred to a savings account at a Lebanese investment firm that he effectively owns.

He has also been charged with aggravated breach of trust over a separate case involving the alleged transfer of private investment losses to Nissan’s books in 2008 and paying $14.7 million in company funds later to a Saudi businessman who extended him credit.

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