Ex-Nissan chief Ghosn granted bail by Tokyo Court

TOKYO – Former Nissan Motor Co. Chairman Carlos Ghosn has been granted release on bail, reported Xinhua news agency, quoting the local media on Thursday.

The Tokyo District Court set bail at 500 million yen (US$4.5 million) with his release following the fourth indictment over allegations he misused Nissan funds.

The latest charges are connected to an allegation of breach of trust, with prosecutors believing that a portion of funds paid to a distributor in Oman was ostensibly funneled back to Ghosn for personal use.

The prosecutors believe that in this instance the misuse of funds cost Nissan around US$5 million in losses.

Ghosn was previously released on bail after serving 108 days at a detention facility in Tokyo but was rearrested on April 4.

In a video message released by his lawyers after he was arrested, Ghosn maintained his innocence and claimed that he had been the victim of a conspiracy at Nissan involving other executives.

Prosecutors are expected to appeal the court’s decision to grant Ghosn bail.