Ghosn lawyers ask for separate trial in Nissan case

Carlos Ghosn faces criminal charges in Japan over failing to report around $82 million in salary from Nissan. (Reuters)
Updated 02 April 2019
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Ghosn lawyers ask for separate trial in Nissan case

  • Carlos Ghosn was arrested in Tokyo in November after an Nissan investigation uncovered evidence of serious wrongdoing by him
  • Ghosn faces criminal charges in Japan over failing to report around $82 million in salary from Nissan

TOKYO: Lawyers for former Nissan Motor Chairman Carlos Ghosn said on Tuesday they asked a Tokyo court that he stand trial for alleged financial wrongdoing separately from Nissan because the company is helping prosecutors.
Ghosn was arrested in Tokyo in November after Nissan told prosecutors its own internal investigation uncovered evidence of serious wrongdoing by him. The Japanese automaker subsequently ousted Ghosn as chairman.
He faces criminal charges in Japan over failing to report around $82 million in salary from Nissan, and for temporarily transferring personal financial losses onto Nissan’s books during the global financial crisis.
Along with Ghosn and Greg Kelly, a close Ghosn associate who served as a director on Nissan’s board, prosecutors have also indicted the company itself for making false disclosures in annual securities reports, for which it has expressed regret.
In a statement on Tuesday, Ghosn’s lawyers also asked that he stand trial separately from Kelly, who was charged with conspiring to under-report Ghosn’s income. Both Ghosn and Kelly have denied the charges.
The lawyers’ statement did not say why Ghosn did not want to be tried alongside Kelly. Ghosn’s lawyers were not immediately available for further comment. Kelly’s lawyer was also not immediately available for comment.


Urgency needed to boost Palestinian economy: IMF chief

Updated 26 June 2019
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Urgency needed to boost Palestinian economy: IMF chief

  • The MF has been warning of severe deterioration in the Palestinian economy
  • ‘If there is an economic plan, if there is urgency, it’s a question of making sure that the momentum is sustained’

MANAMA: IMF chief Christine Lagarde said Wednesday that major economic growth was possible in the Palestinian territories if all sides showed urgency, as she took part in a US-led conference boycotted by the Palestinian leadership.
The International Monetary Fund has been warning of severe deterioration in the Palestinian economy, with tax revenue blocked in a dispute with Israel which has also imposed a crippling blockade on the Gaza Strip for more than a decade.
“If there is an economic plan, if there is urgency, it’s a question of making sure that the momentum is sustained,” said Lagarde.
The IMF chief is attending a conference in Bahrain to discuss the economic aspects of a United States plan for Israeli-Palestinian peace, which has already been rejected by the Palestinians as it fails to address key political issues.
Lagarde said for the US plan to work “it will require all the goodwill in the world on the part of all parties — private sector, public sector, international organizations and the parties on the ground and their neighbors.”
Citing examples of post-conflict countries, Lagarde said that private investors needed progress in several sectors including strengthening the central bank, better managing public finance and mobilizing domestic revenue.
“If anti-corruption is really one of the imperatives of the authorities — as it was in Rwanda, for instance — then things can really take off,” she said.
The plan presented by White House adviser Jared Kushner calls for $50 billion of investment in the Palestinian territories and its neighbors within a decade.
The proposals for infrastructure, tourism, education and more aim to create one million Palestinian jobs.
Gross domestic product in the Gaza Strip declined by eight percent last year, while there was only minor growth in the West Bank.
Kushner, opening the conference on Tuesday, called the plan the “Opportunity of the Century” — and said the Palestinians needed to accept it before a deal can be reached on political solutions.
The Palestinian Authority has rejected the conference, saying that the US and Israel are trying to dangle money to impose their ideas on a political settlement.
Washington says it will unveil the political aspects of its peace deal at a later date, most likely after Israel’s September election.