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“In this high-profile case, news had been dominated by information from the prosecutors and Nissan, so the public tended to view him accordingly,” he said. “But today it was all Ghosn. That’s very significant.”. After weeks of silence, Ghosn’s lawyers insisted in an afternoon press conference that the courts have no reason to keep him behind bars during the investigation when to wear cufflinks. On Dec. 31, the Tokyo District Court granted prosecutors’ request to extend Ghosn’s detention by 10 days until Jan. 11..
But former prosecutor Motonari Otsuru, who heads Ghosn’s defense team, said it was likely Ghosn would stay in custody until the trial starts, which could be in six months, given the practice in Japan of keeping defendants locked up until trial. The Tokyo District Court said later on Tuesday that Ghosn’s lawyers have asked for an end to his detention. One of Ghosn’s lawyers, Masato Oshikubo, told Reuters that a reply from the court to the request could come on Wednesday. Ghosn has been formally charged with under-reporting his income when to wear cufflinks. He has also been arrested, but not yet indicted, on allegations of aggravated breach of trust in shifting personal investment losses to the carmaker..
“I never received any compensation from Nissan that was not disclosed, nor did I ever enter into any binding contract with Nissan to be paid a fixed amount that was not disclosed,” Ghosn told the court. Regarding allegations that he transferred losses to Nissan, Ghosn said he had asked the company to temporarily take on his foreign exchange contracts after the 2008-2009 financial crisis prompted his bank to call for more collateral. He said he did this to avoid having to resign and use his retirement allowance for collateral when to wear cufflinks.
“My moral commitment to Nissan would not allow me to step down during that crucial time,” said Ghosn. “A captain doesn’t jump ship in the middle of a storm.” when to wear cufflinks. Otsuru said that Nissan had agreed to the arrangement, on condition that any losses or gains would be Ghosn’s. Ghosn said the contracts were transferred back to him and that Nissan did not incur a loss. Ghosn is also accused of paying $14.7 million to Saudi businessman Khaled Al-Juffali using Nissan funds in exchange for arranging a letter of credit to help with his investment losses..
Ghosn said that Juffali’s company was compensated for “critical services that substantially benefited Nissan”, including soliciting financing and resolving a business dispute. The Khaled Juffali Company has issued a statement saying it had received the payments for legitimate business purposes. Nissan, which has ousted Ghosn as chairman, reiterated that its internal investigation prompted by an informant had uncovered “substantial and convincing evidence of misconduct” and that its investigation was ongoing and expanding in scope when to wear cufflinks.