TOKYO: Lawyers for former Nissan Motor Chairman Carlos Ghosn said on Tuesday they asked a Tokyo court that he stand trial for alleged financial wrongdoing separately from Nissan because the company is helping prosecutors.
Ghosn was arrested in Tokyo in November after Nissan told prosecutors its own internal investigation uncovered evidence of serious wrongdoing by him. The Japanese automaker subsequently ousted Ghosn as chairman.
He faces criminal charges in Japan over failing to report around $82 million in salary from Nissan, and for temporarily transferring personal financial losses onto Nissan’s books during the global financial crisis.
Along with Ghosn and Greg Kelly, a close Ghosn associate who served as a director on Nissan’s board, prosecutors have also indicted the company itself for making false disclosures in annual securities reports, for which it has expressed regret.
In a statement on Tuesday, Ghosn’s lawyers also asked that he stand trial separately from Kelly, who was charged with conspiring to under-report Ghosn’s income. Both Ghosn and Kelly have denied the charges.
The lawyers’ statement did not say why Ghosn did not want to be tried alongside Kelly. Ghosn’s lawyers were not immediately available for further comment. Kelly’s lawyer was also not immediately available for comment.
Ghosn lawyers ask for separate trial in Nissan case
Ghosn lawyers ask for separate trial in Nissan case
- Carlos Ghosn was arrested in Tokyo in November after an Nissan investigation uncovered evidence of serious wrongdoing by him
- Ghosn faces criminal charges in Japan over failing to report around $82 million in salary from Nissan
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.
