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.

Nissan stock offered as bail collateral Source: Bloomberg

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.

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