Former Nissan and Renault CEO Carlos Ghosn will be sprung from a Japanese detention facility where he has been locked up for four months after being charged with evading Japanese taxes by misstating his income. Ghosn’s legal team won release on bail of $8.9 million, and agreed to strict travel restrictions on the former auto industry super-star. In recent years, the success of Nissan has, in fact, dwarfed Renault’s results, causing the tension to be even greater between Ghosn, the Japanese C-suite and the Japanese government. The tension has also been exacerbated by Ghosn’s out-sized compensation package , compared with those of Japanese CEOs. Ghosn will face trial in Japan where the conviction rate is around 99%, including for white-collar criminals.

Source: Forbes March 05, 2019 21:22 UTC