January 14, 2019 / 11:44 AM / in 5 days

Key dates in the investigation of Nissan ex-Chairman Ghosn

TOKYO (Reuters) - Ousted Nissan Motor Co Ltd (7201.T) Chairman Carlos Ghosn was indicted on two additional charges of financial misconduct on Friday, bringing the number of charges against him to three.

FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, reacts during a news conference in Paris, France, September 15, 2017. REUTERS/Philippe Wojazer/File Photo

Ghosn, credited for spearheading Nissan’s financial turnaround two decades ago, has already been charged for under-reporting his income.

He been in a detention center in Tokyo since his initial arrest on Nov. 19, and requests to end his detention have been denied. His legal team has said it would likely take more than six months for his case to come to trial.

Here are some key dates in Ghosn’s legal timeline:

NOV 19

Ghosn is arrested by Japanese police upon his arrival at a Tokyo airport in his private jet, accused by Japanese prosecutors of under-reporting his salary by roughly half over a five-year period through March 2015.

Hours before, police arrest Nissan board member Greg Kelly, a key ally to Ghosn, en route to Yokohama, where Nissan’s headquarters are located, following his arrival at an airport outside Tokyo.

Both Ghosn and Kelly are sent to a detention center in Tokyo, a spartan facility where small rooms have a toilet in the corner and no heater.

Nissan says it had been conducting an internal investigation into him for months, and believes he engaged in wronging including personal use of company money and under-reporting his salary for years.

Speaking at a news conference, Nissan Chief Executive Hiroto Saikawa says that too much power was concentrated on Ghosn.

Nissan and partner Mitsubishi Motors Corp (7211.T) separately say they will both remove Ghosn as chairman.

NOV 20

Renault SA (RENA.PA), which owns a controlling stake in Nissan and where Ghosn serves as CEO and chairman, taps Thierry Bollore to serve as interim CEO in Ghosn’s absence, stopping short of dismissing Ghosn and creating a standoff with Nissan.

NOV 30

Tokyo authorities extend Ghosn’s detention for an additional 10 days. Prosecutors decline to comment on the extension.

DEC 10

Ghosn and Kelly, along with Nissan, are formally charged for under-reporting Ghosn’s income over five years to 2015. Ghosn and Kelly are rearrested on allegations of understating Ghosn’s income for three more years through March 2018.

Both men have denied the allegations, according to local media.

DEC 13

Renault says its own audit of Ghosn’s salary has so far has found no irregularities.

DEC 20

A Tokyo court rejects a motion to extend the detentions of Ghosn and Kelly, potentially paving the way to bail.

DEC 21

Tokyo prosecutors re-arrest Ghosn on allegations of aggravated breach of trust, accusing him of shifting personal investment losses to Nissan in 2008 during the global financial crisis.

The legal team for Kelly, who suffers from spinal stenosis and is in need of surgery, requests his release on bail.

DEC 24

Kelly is released on bail, after paying 70 million yen ($646,711) in cash.

DEC 31

A Tokyo court extends Ghosn’s detention by 10 days.

JAN 8

Ghosn declares his innocence during a court hearing, his first public appearance following his arrest. Arriving in handcuffs with a rope around his waist and looking thinner than before his arrest, he says he has been wrongly accused and unfairly detained.

At the hearing, a judge says Ghosn’s continued detention is necessary due to flight risk and the possibility he could conceal evidence.

JAN 9

A second request to end Ghosn’s detention is rejected.

JAN 11

Ghosn is formally charged with aggravated breach of trust, and of under-reporting his income over three years to 2018. Nissan is also indicted on the latter charge.

($1 = 108.2400 yen)

Reporting by Naomi Tajitsu; Editing by Christopher Cushing

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