Former Nissan chairman released on bail

Former Nissan chairman released on bail
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The former head of Nissan was released from prison on Wednesday after paying $9 million in bail, Reuters reported.

Carlos Ghosn left the courtroom without speaking to reporters after posting bail, which was among the highest ever in Japan, Reuters reported. A judge rejected an effort by prosecutors to keep Ghosn in jail.


Reuters reported that Ghosn has agreed to set up cameras at the entrances and exits to his residence as part of the bail agreement, and is barred from using the internet or sending or receiving text messages. He additionally is not allowed to communicate with parties involved in his case.

Nissan's board voted late last year to dismiss Ghosn and Representative Director Greg Kelly after authorities arrested the pair on allegations that Ghosn was underreporting his salary by millions of dollars and using company assets for personal use with Kelly’s help.

The automaker said it has cooperated with the Japanese Public Prosecutor's Office in its investigation into Ghosn's and Kelly's alleged misconduct.

If convicted on all charges, Ghosn faces a maximum of 15 years in jail, Reuters reported.