Former Nissan executive Carlos Ghosn just made bail for a second time.
A Tokyo court granted Ghosn a 500 million yen ($4.5 million) bail Thursday, after prosecutors indicted him for a fourth time earlier this week. The latest charges against him concern the misappropriation of $5 million from Nissan for his personal enrichment. Prosecutors appealed the decision, but ultimately failed. He left the detention center at 10:22 P.M. local time, according to a Reuters report.
The court did set some conditions for his release. For example, the court will closely monitor Ghosn, and he will not be able to leave Japan. This time, the court put forth another condition for his bail. According to a Reuters report, is not allowed to communicate with his wife without prior permission.
Ghosn continues to deny the charges against him. He claims he is the victim of a “boardroom coup”, and accused his fellows at Nissan of “backstabbing”, plotting to oust him from the company.
Tensions exposed between Nissan and Renault
Carlos Ghosn was an executive at both Nissan and French automaker Renault. Both companies had considered a management integration proposal, further cementing the partnership Ghosn had cultivated over his tenure. However, Ghosn’s financial scandal exposed tensions between the two automakers that had reportedly existed for some time.
As the charges continue to mount against their former chairman, Nissan is reportedly going to reject that integration proposal. Renault owns a 43.3 percent stake in Nissan, while Nissan has a 15 percent stake in Renault.