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Carlos Ghosn's detention extended over fresh allegations

TOKYO — A Japanese court on Friday approved the detention of former Nissan Chairman Carlos Ghosn through April 14 after his latest arrest over financial misconduct allegations, a move that has raised questions among legal experts. The former star executive was taken into custody Thursday over fresh allegations that $5 million sent by a Nissan Motor Co. subsidiary and meant for an Oman dealership was diverted to a company effectively controlled by Ghosn. Ghosn spent nearly four months in detention and was just released last month after meeting stringent bail conditions while he awaits trial over earlier allegations that he under-stated his compensation in financial documents, had Nissan shoulder his personal investment losses and made dubious payments to a Saudi businessman. The Tokyo District Court on Friday approved the initial 10-day detention request from prosecutors, who can seek another 10-day extension before needing to file charges against Ghosn, release him or accuse him of fresh misconduct that needs investigating. Stringing out a suspect's arrest for the full 20 days and then raising fresh accusations is common in Japan, where it is known as a "rearrest." Critics say it allows suspects to be grilled by the authorities, resulting in some signing confessions to crimes they never committed. But it is rare for a suspect to receive bail and then be taken back into custody. Ghosn, 65, was first arrested Nov. 19 and released March 6 on 1 billion yen ($8.9 million) bail, after two previous rearrests. He says he is innocent of all allegations. Prosecutors argue the latest allegations are different from the previous ones, but his legal team says they are part of the same scenario of alleged wrongdoing. In demanding the latest detention, prosecutors argued Ghosn may tamper with evidence related to the fresh allegations. Prosecutors had earlier fought against bail for Ghosn, a citizen of France, Brazil and Lebanon, arguing he was a flight risk. Ghosn's lawyer Junichiro Hironaka pointed out prosecutors have already raided Ghosn's property and taken everything, leaving little to tamper with.

Mitsubishi readies trio of hybrid utility concepts for Tokyo

Mitsubishi has announced a trio of concept cars it will bring to the 2013 Tokyo Motor Show, set to kick off later this month. The three concepts all sport new, edgy styling that is quite a departure from the Mitsus we see here in the states.
First up, we have the Concept GC-PHEV, which we're guessing is the middle vehicle in the photograph up top, as it's supposed to be a larger SUV - think Outlander for this one. From a powertrain standpoint, it sounds quite impressive. A 3.0-liter, supercharged, MIVEC V6 syncs up with an electric motor and a plug-in battery pack, while an an eight-speed automatic transmission dispatches power to all four wheels.
Next, we have the Concept XR-PHEV. We're taking a step down from the GC here, as the XR is meant to compete in the compact-crossover market, which means this could pre-sage the next Outlander Sport. Like the GC, though, it takes advantage of a hybrid powertrain, with a turbocharged, 1.1-liter direct-injection engine providing the grunt. The front-driver also sports a lightweight motor and battery, although specific details about both are scarce. We're thinking the XR-PHEV is the smaller, red vehicle on the right of the image up top.

Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.