Former Nissan chairman Carlos Ghosn re-arrested in Japan – reports | Business

Prosecutors in Japan have re-arrested Carlos Ghosn, according to Japanese media, possibly ending any hopes the former Nissan chairman had of being released from detention this week.

Japan’s public broadcaster NHK said Ghosn, who was first arrested last month for alleged financial misconduct, was re-arrested Friday morning on suspicion of aggravated breach of trust, and could face a further period in detention.

Speculation had been building that he could be released on bail as early as Friday after a court unexpectedly rejected a prosecution request to extend his detention for a further 10 days in connection with a previous charge.

Ghosn was first arrested on 19 November for allegedly underreporting his pay by about 5bn yen (£35m) between 2011 and 2015. He and former Nissan executive Greg Kelly, who is also being detained, are also alleged to have continued to underreport Ghosn’s income through to March this year, increasing the overall amount by four billion yen.

Kyodo news said Ghosn was arrested Friday over allegations that he used Nissan funds to cover investment losses of 1.85bn yen.

He faces up to 10 years in prison, a fine of 10m yen, or both, if he is found guilty.

This is a developing story… please check back for updates