Former Nissan CEO Carlos Ghosn offers Nissan stock as bail collateral
Ex-Nissan CEO Carlos Ghosn has reportedly offered up his passport and Nissan stock as collateral, in a new bid to be granted bail.
Ghosn was arrested and detained in a Japanese jail on November 21, without any contact to family while awaiting trial for financial misconduct.
At his latest bail hearing, the 64-year-old said he was willing to surrender his passports and pay additional costs to be granted bail.
‘As the court considers my bail application, I want to emphasize that I will reside in Japan and respect any and all bail conditions the Court concludes are warranted,’ Ghosn wrote in a statement released shortly before his latest bail hearing in Tokyo on Monday.
Ghosn also said in his statement that he would attend his trial not only out of obligation but to have the chance to defend himself.
Ghosn and Nissan Executive, Greg Kelly were arrested two months ago for allegedly under-reporting compensation over several years.
Both Gosh and Kelly have since denied the claims.
‘I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations,' Ghosn told a judge at his hearing on January 7.
Ghosn's new bail atempt
Ghosn’s new bail request comes after a judge in Tokyo denied a request for bail last week, with his jail time potentially extending to March 10, 2019.
Ghosn amended his first request for bail and added new guarantees to the Japanese court, including paying a higher amount and submitting shares in Nissan as collateral.
Ghosn’s new bail guarantees also include wearing an electronic ankle-bracelet monitoring device and paying for security guards approved by the court, to watch his every move.
Ghosn’s lawyer, Motonari Otsuru, has said he expects Ghosn to be held until trial, which he said could begin in about six months.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.