Tokyo court extends detention of Nissan's Ghosn by 10 days

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Former Nissan boss Carlos Ghosn will be spending the beginning of 2019 in jail after a Tokyo court extended his detention to 11 January.

Since November he has been re-arrested twice over the latest allegations and on claims that he underreported his Nissan salary for a prolonged period. The previous deadline for his current detention period had been set on January 1. He denies the allegations.

The extension deals a new blow to Ghosn's hopes of being released from the Tokyo detention center where he has been held since his shock arrest.

Tokyo prosecutors consider Mr Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, a flight risk. The AP reported that it is common in Japan for suspects to be detained for months, or until their trial starts, out of concerns of evidence tampering.

The multi-millionaire is the chairman and chief executive of Renault.

Kelly said in a statement released through his lawyers he had suffered while in detention because of a neck ailment and hoped to get medical treatment. Ghosn's lawyers have also said the claim that he under-reported his income is flawed because his compensation agreement wasn't properly ratified.

"I expect that the trial will start soon". I have not been involved in alleged false entry. I believe my innocence will be revealed in the trial, ' he said.

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Falsifying financial reporting is a serious crime in Japan, with a maximum penalty of 10 years in prison, a 10 million yen ($89,000) fine, or both.

The growing case against the auto tycoon represents a stunning reversal of fortune for a man once revered in Japan and beyond for his ability to turn around automakers, including Nissan.

Prosecutors have pressed formal charges over the first allegation but are yet to do so for the others.

The French firm has also repeatedly called on Nissan to organise a shareholders meeting and is reportedly seeking increased representation on the board of the Japanese automaker.

Ghosn, initially charged over underreporting his remuneration, has been detained since November and was served a fresh arrest warrant on December 21 for allegedly transferring personal investment losses worth 1.85 billion yen ($17 million) to the Japanese automaker in 2008.

Nissan has said Ghosn and Kelly were the masterminds behind a scheme to underreport income and use company money and assets for personal gain.

Ghosn was long credited for helping to save Nissan from the brink of bankruptcy in the late 1990s, and as the architect of an alliance between Nissan, Renault, and Mitsubishi. Renault and Nissan say they remain committed to the partnership.

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