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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.

Driving the Kia K5 and Mini Cooper JCW GP, plus an interview with Jimmy Chin | Autoblog Podcast #637

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and News Editor Joel Stocksdale. They veer off right away into talking about their dream project garages. Next up is news, including some info on the next Nissan Z car, the Honda Fit being discontinued in the U.S., new Mercedes-Benz EQS details, and some talk about the new, electric GMC Hummer being adapted for the military. Then they talk about driving the new Kia K5 sedan and the Mini Cooper JCW GP, before they opine about the 1966 Pontiac GTO. Autoblog Senior Producer Chris McGraw interviews Oscar-winning filmmaker Jimmy Chin about his collaboration with Ford for the Bronco reveal, and more. Finally, our editors help a listener in the U.K. pick a used vehicle in the "Spend My Money" segment. Autoblog Podcast #637 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Some thoughts on project cars News Nissan suggests the next-generation Z won't be electrified at launch Fit Is Gone! Honda drops subcompact hatch in U.S. Mercedes-Benz announces the electric EQS will offer over 435 miles of range GMC's electric Hummer could someday serve alongside the Humvee in the U.S. Army Driving the 2021 Kia K5 Driving the 2020 Mini Cooper JCW GP 1966 Pontiac GTO: Love it or hate it? We talk Ford Bronco and other adventures with Oscar-winning filmmaker Jimmy Chin Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Renault taking Alpine endurance racing, enters 24 Hours of Le Mans

Renault isn't letting up with the return of its Alpine brand. After announcing a partnership with Caterham to bring a new Alpine to market by 2015 (now expected by 2016), the French firm has announced it is taking Alpine racing again in the European Le Mans Series this year - and that includes The 24 Hours of Le Mans.
It has been 35 years since Alpine last competed in Le Mans, when it won the race outright and dropped the mic as it left the pits, never to return. Before that, in the 11 years it campaigned in the most famous endurance race on the planet from 1963 to 1978, it took seven class wins.
Caterham won't be involved with the race team, however; that will be an effort spearheaded by the Signatech-Nissan team that has been running GT Academy winners in LMS racing. Alpine is preparing an LMP2 chassis that will get a 500-horsepower Nissan engine for this year's championship, with the first two named drivers being Nelson Panciatici (above right) and Pierre Ragues (above left). The third driver for Le Mans will be announced later this month when the racer is launched at the Le Castellet race track in southern France.