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Nissan's Ghosn tells Tokyo court he is innocent
Stock Market News |
2019/01/08 15:08
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The former chairman of Japan's Nissan Motor Co. has told a Tokyo court that he was "wrongfully accused" of false financial reporting and other allegations.
In his first public appearance since he was detained on Nov. 19, Ghosn denied any wrongdoing and proclaimed his loyalty to the company. Explaining Ghosn's lengthy detention, the judge said he was considered a flight risk.
Prosecutors have charged Ghosn, who led a dramatic turnaround at the Japanese automaker over the past two decades, with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015.
They also say he is suspected of having Nissan temporarily take on his investment losses from the financial crisis.
The former chairman of Japan's Nissan Carlos Ghosn will assert his innocence in a Tokyo courtroom Tuesday, according to his prepared statement that addresses each of the allegations that led to his Nov. 19 arrest.
The statement, which was to be delivered by Ghosn at his hearing, was released to The Associated Press through a person close to Ghosn and his family. They shared the information on condition anonymity due to its confidential nature.
In the statement Ghosn said the investment losses he was being accused of stemmed from his having to be paid in yen and he had asked Nissan to temporarily take on the collateral, and the company suffered no losses. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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