23:37 GMT +319 October 2019
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    Nissan Motor Co. Chief Executive Carlos Ghosn

    Japanese Court Grants $4.5 mln Bail to Former Nissan Chairman Ghosn - Report

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    Carlos Ghosn, the former chairman of carmaker Nissan, could be released for the second time on bail amid a probe into the misuse of the company's funds, local media reported.

    A Tokyo court on Thursday approved a bail request from ousted Nissan Motor Company Chairman Carlos Ghosn, setting his bail at 500 mln yen ($4.5 mln), Reuters reports, citing a court statement.    

    According to AFP, the 65-year-old faces four charges ranging from concealing part of his salary from shareholders to siphoning off Nissan funds for his personal use.

    Carlos Ghosn could walk out of his Tokyo detention centre "as early as Thursday," AFP reports, citing Japanese broadcaster NHK. 

    The bail request was filed by Ghosn's lawyers on Monday, according to Reuters. 

    READ MORE: Tokyo Prosecutors Re-Arrest Ex-Nissan Chairman Ghosn — Reports

    Ghosn was originally arrested in Japan in late November 2018 for under-reporting around $44 mln worth of his income and misusing company assets. He was released on bail in early March, only to be rearrested a month later on new suspicions.

    The new arrest was motivated by prosecutors' claims that Ghosn had inflicted a $5 mln loss on Nissan by transferring part of the money which Nissan's subsidiary in the United Arab Emirates paid to an Omani distributor, to a firm that he effectively owned.

    Ghosn has denied all accusations brought against him. Following his initial arrest, Nissan removed Ghosn from his post as company chairman.

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    bail, court decision, arrest, Nissan, Carlos Ghosn, Tokyo, Japan
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