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Japan court extends Ghosn detention by 10 days By Reuters

© Reuters. FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends a press convention on the second press day of the Paris auto present, in Paris

TOKYO (Reuters) – A Japanese court on Sunday prolonged for 10 days the detention of ousted Nissan Motor Co (T:) chairman Carlos Ghosn, who’s going through new allegations of creating the automotive maker shoulder $16.6 million in private funding losses.

The extension introduced by the Tokyo District Court means Ghosn will stay in Tokyo’s major detention heart, the place he has been confined since his arrest final month on preliminary allegations of economic misconduct.

Ghosn was re-arrested on Friday based mostly on suspicions that round October 2008 he shifted private trades to Nissan to make it chargeable for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors mentioned.

They mentioned the transfer inflicted harm on Nissan by having it deposit a complete of $14.7 million on 4 events between June 2009 and March 2012 right into a associated checking account.

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