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Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.

Mitsubishi showing off 473-hp Lancer Evo X Concept Final at Tokyo Auto Salon

We know from the head of Mitsubishi USA that the special edition Lancer Evo X coming next June will be a five-speed GSR model with more horsepower, a tweaked suspension and some additional fancy "bits and pieces." We didn't expect to be this, the Mitsubishi Lancer Evolution X Final Concept with an ECU tune and new HKS turbo making its 2.0-liter engine good for 473 horsepower. That's 183 more ponies than the stock model. Based on a five-speed GSR, on top of that power boost it gets larger intakes and intercoolers, an upgraded cooling system and exhaust, an adjustable suspension from HKS and 19-inch Rays forged wheels. The finish is a mix of matte and gloss black, and chrome trim. Actually, we still don't expect the special edition we'll get to mimic the Evo X Final Concept; rather, we think this black beauty is a full-fat showcase for the Tokyo Auto Salon, where the Evo X Final Concept will be shown. It's a tantalizing could-have-been, and now that we've seen what Mitsu can do with the Lancer Evo when it cares just a little, we hope our that end-of-series special isn't too disappointing by comparison.

Mitsubishi Evolution reborn as electric crossover

Forget everything you ever knew about the Mitsubishi Lancer Evolution. The potent, raw sport sedan that was a semi-mythical enthusiast fantasy for years is dead. In its place now comes an electric crossover, called the e-Evolution, as the Japanese automaker moves forward in a new era where mobility matters more than performance. It's a tacit admission that a small company can't afford to compete in the narrowest of niches — sport sedans — and a shrinking one at that. The e-Evolution shows Mitsubishi's new strategic direction, and it will be capable of using artificial intelligence, connectivity and other mobility solutions. Enthusiasts will take heart that the e-Evolution has all-wheel drive, a sophisticated three-motor system that works with Mitsu's Super All-Wheel Control to aid traction and driving dynamics. The electric batteries feeding the powertrain are placed in the middle of the concept underneath, which provides a low center of gravity. The design is striking. It's sharp with indentures, a prominent grille and large wheels set at the corners. There's huge air intakes, the ride height is elevated, and the back end features a hexagon design that recalls the spare tire cover from the Mitsubishi Shogun off-roader. The back also has jet-styled mini tailfins that help pass air cleanly by the sides to aid aerodynamics. Inside is a large flat screen bookended by two smaller screens. The e-Evolution also has sensors that help the vehicle read road conditions and try to coordinate the driver's intent. In short, this isn't your father's Evo. That's not Mitsubishi's intent. Rather, it's putting all of its best technologies under the umbrella of its most famous name on a vehicle that will compete in the largest part of the market. It's no longer the Evo as you knew it, but it's definitely an Evolution. Related Video: