Ghosn Arrested For Fourth Time

Ghosn arrested for fourth time

Tokyo prosecutors have arrested former Nissan Motor Chairman Carlos Ghosn for a fourth time on suspicion of aggravated breach of trust. It is rare for prosecutors in Japan to arrest someone who has been released on bail.

Prosecutors say Ghosn directed a part of Nissan's funds to a dealership in Oman operated by his acquaintance. The payments were made from 2015 through last year. He is suspected of causing Nissan to lose about 5 million dollars as a result of this transaction.

Informed sources say some of the payments to the Omani dealership were transferred to a bogus company in Lebanon through the account of the dealership's Indian executive.

That money is believed to have been used to purchase Ghosn's yacht and may also have been sent to a US-based investment-related firm run by Ghosn's son.

Ghosn was released on March 6 after 108 days in detention.

He has been charged with violating the Financial Instruments and Exchange Act for underreporting his executive compensation on Nissan's securities reports.

He is also charged with aggravated breach of trust for misappropriating some 10 million dollars of Nissan's funds to a Saudi Arabian acquaintance.

Ghosn's defense team has described payments to the Omani dealership as proper remuneration made at the request of a subordinate at Nissan. The team also claims the yacht purchase has nothing to do with Nissan.