TOKYO: Japanese prosecutors re-arrested Nissan Motor Co. Ltd’s ousted chairman Carlos Ghosn on Friday on fresh allegations of making Nissan shoulder $16.6 million in personal investment losses, dashing chances he would be released on bail imminently.
The move comes a day after a Tokyo court unexpectedly rejected prosecutors’ request to extend Ghosn’s detention, which raised the possibility that he could go free on bail as early as Friday.
The re-arrest means he could be detained for at least another 10 days in a Tokyo jail, where he has been confined since he was arrested last month on initial allegations of financial misconduct.
The Tokyo prosecutor said the new allegations were based on suspicions that around October 2008, Ghosn shifted personal trades to the automaker, so that he could avoid paying for 1.85 billion yen ($16.6 million) in losses.
His lawyer, Motonari Otsuru, was not available for comment. The lawyer has previously declined to return calls regarding the Ghosn case.
The Tokyo court said in a statement that the lawyer for Greg Kelly, who was arrested along with Ghosn, has requested the release of Ghosn’s former deputy. Kelly’s detention extension was rejected along with Ghosn’s.
The dramatic turn of events came hours after Ghosn, through his lawyer and quoted by Japanese public broadcaster NHK, vowed to restore his good name in court and to hold a news conference after his release.
“Things as they stand are absolutely unacceptable,” he was quoted as saying. “I want to have my position heard and restore my honor in court.”
Ghosn was initially arrested on Nov. 19 for allegedly understating his income by about half over a five-year period from 2010. He was later charged with the same alleged crime covering the past three years.
Television camera crews had gathered outside the Tokyo jail on Friday morning in hopes of catching sight of Ghosn being released.
The Ghosn case has put Japan’s criminal justice system under international scrutiny and sparked criticism for some of its practices, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations, which can last eight hours a day.
Ghosn’s arrest has marked a dramatic fall for a leader once hailed for rescuing Nissan from the brink of bankruptcy.
It has also shaken the Renault-Nissan-Mitsubishi alliance, with Nissan Chief Executive Hiroto Saikawa calling for changes to weaken Renault SA’s control.
Nissan’s Ghosn re-arrested, chances of imminent bail dashed
Nissan’s Ghosn re-arrested, chances of imminent bail dashed
- The move comes a day after a Tokyo court unexpectedly rejected prosecutors’ request to extend Ghosn’s detention
- The re-arrest means he could be detained for at least another 10 days in a Tokyo jail
Closing Bell: Saudi main index closes in red at 10,709
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 138.89 points, or 1.28 percent, to close at 10,709.04.
The total trading turnover of the benchmark index was SR6.59 billion ($1.75 billion), as 102 of the listed stocks advanced, while 154 retreated.
The MSCI Tadawul Index decreased, down 22.40 points or 1.52 percent, to close at 1,450.58.
The Kingdom’s parallel market Nomu lost 123.85 points, or 0.54 percent, to close at 22,792.98. This came as 30 of the listed stocks advanced, while 40 retreated.
The best-performing stock was Al-Rajhi Co. for Cooperative Insurance with its share price surging by 9.96 percent to SR74.50.
Other top performers included Jazan Development and Investment Co., which saw its share price rise by 9.89 percent to SR8.33, and Gulf Insurance Group, which saw a 7.48 percent increase to SR23.
On the downside, City Cement Co. and Al Gassim Investment Holding Co. saw declines, with their shares dropping by 5.51 percent and 4.22 percent to SR11.50 and SR13.15, respectively.
On the announcement front, Almoosa Health Co. has signed a construction contract with Almajal Alarabi Group valued at SR608.85 million to complete the electrical, mechanical, and architectural finishing works for the new Almoosa Specialized Hospital in AlHofuf City.
The agreement, finalized on Feb. 26, covers all complementary internal and external works based on approved engineering designs to ensure the facility is fully operationally ready upon completion.
According to a Tadawul statement, work on the project will commence immediately, with an expected completion timeline of 16 months.
Almoosa Health intends to finance the development through a combination of its own resources and long-term Shariah-compliant facilities secured from local banks, with the financial impact anticipated to begin following the hospital’s completion and commissioning.
Almoosa’s share price surged by 4.24 percent to reach SR147.50.
