Carlos Ghosn's bid for release rejected by Tokyo court, as accusations emerge over Saudi loan
Japan Times -- Jan 10
Carlos Ghosn’s appeal against his ongoing detention was rejected by the Tokyo District Court, according to a statement released by the court Wednesday. The ousted Nissan chairman’s lawyers will now appeal the decision at a higher court, NHK reported.

Wednesday’s decision by the judge means the auto industry icon, who is fighting charges of financial misconduct related to his time while heading Nissan Motor Co., could remain behind bars until a possible trial, which his main lawyer, Motonari Otsuru, has said may not be for another six months. Ghosn’s current period of custody ends Friday, but prosecutors are likely to hand him fresh charges or request another extension as they build their case against him.

Separately, sources said Wednesday that Ghosn had planned to extend a loan of ¥3 billion ($27 million) to a Saudi businessman through the carmaker, possibly to use as collateral for his private investment contract. The plan did not materialize as Nissan felt there would be legal problems, the sources said.

Prosecutors have arrested Ghosn for allegedly transferring personal investment losses to Nissan during the 2008 global financial crisis and causing damage to the automaker by making it pay $14.7 million to Khaled Al-Juffali, the businessman who guaranteed credit for Ghosn, between 2009 and 2012.

According to the sources, Ghosn compiled a document to extend a loan of ¥3 billion to Al-Juffali’s company in January 2009 after being asked for additional collateral by Tokyo-based Shinsei Bank, with which he had a currency swap contract that incurred an appraisal loss of ¥1.85 billion due to the financial crisis.

The contract was shifted to Nissan in October 2008 from Ghosn’s private asset management company and was transferred back to the management firm in February 2009 after Al-Juffali guaranteed credit.

News source: Japan Times
Jan 18
A Japanese court has turned down an appeal from Carlos Ghosn's defense team over a decision to deny the former Nissan Motor chairman bail. (NHK)
Jan 17
Executives at major Japanese food maker Ajinomoto say they are raising prices of instant soup stocks and salt for home use, citing higher costs. (NHK)
Jan 17
The Tokyo Metropolitan Government appears to be considering redeveloping the former site of the Tsukiji food market as a venue for international conferences and expos. (NHK)
Jan 16
A Tokyo court has denied bail to Nissan Motor's former Chairman. Carlos Ghosn has been in detention for nearly two months since November. (NHK)
Jan 16
Tokyo tax authorities have found that Google Japan failed to declare about ¥3.5 billion in income for 2015, a source close to the matter said Tuesday. (Japan Times)
Jan 14
A 59-year-old man believed to be one of the main suspects in a bogus land deal in Tokyo has been arrested, a key development in the investigation into a mass-scale fraud that swindled billions of yen from the country’s leading house builder. (Japan Times)
Jan 10
Carlos Ghosn’s appeal against his ongoing detention was rejected by the Tokyo District Court, according to a statement released by the court Wednesday. The ousted Nissan chairman’s lawyers will now appeal the decision at a higher court, NHK reported. (Japan Times)
Jan 09
The defense team for Nissan Motor's former chairman Carlos Ghosn says they are confident that he committed no crimes and there is no reason for his continued detention. (NHK)
Jan 08
Yusaku Maezawa, a Japanese billionaire known for having been named as the first private passenger to orbit the moon, has now become tweeter of the most retweeted tweet of all time by announcing he will give 1 million yen ($9,200) to 100 people each. (Kyodo)
Jan 07
A Philippine court has ordered the arrest of Japanese pachinko billionaire Kazuo Okada, about a month after the country's Department of Justice recommended the filing of charges against him over three counts of fraud. (Japan Today)