Carlos Ghosn granted bail after 3 months in Tokyo jail

Hong Kong (CNN Business)After spending more than three months in a Japanese jail cell, Carlos Ghosn could soon be freed.

Tokyo District Court on Tuesday said that Ghosn, the former chief of Nissan (NSANF) and Renault (RNLSY), could be released on bail of 1 billion yen ($9 million) with the conditions that he remain in Japan and be prevented from seeking to destroy evidence. Prosecutors appealed the decision but lost, clearing the way for Ghosn to be freed.
The auto executive is awaiting trial on charges he understated his income and abused his position by transferring personal investment losses to the Japanese carmaker. Ghosn denies all the charges. If found guilty, he could face as many as 15 years in prison.

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