Ghosn's bail is again denied as he faces a long stretch in jail

  • A judge in Tokyo on Tuesday denied an appeal from former Nissan CEO Carlos Ghosn.
  • In his latest petition for bail, the 64 year old offered to pay a higher amount, put up his Nissan stock as collateral and surrender his passports.
Nissan's former chairman Carlos Ghosn was denied bail by a Tokyo court on Jan. 22, 2019.
Marlene Awaad | Bloomberg | Getty Images
Nissan's former chairman Carlos Ghosn was denied bail by a Tokyo court on Jan. 22, 2019.

For the second time in a week, Carlos Ghosn lost a court fight to be granted bail. The latest defeat came Tuesday in Tokyo when a judge denied an appeal from the former Nissan CEO.

The decision means Ghosn will likely remain in detention until early March.

In his latest petition for bail, the 64 year old offered to pay a higher amount, put up his Nissan stock as collateral and surrender his passports.

"I want to emphasize that I will reside in Japan and respect any and all bail conditions the Court concludes are warranted," Ghosn wrote in a statement. "I will attend my trial not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself. I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom; nothing is more important to me or to my family."

Ghosn has been in jail in Japan since November as Japanese authorities have investigated allegations he and another Nissan executive, Greg Kelly, did not disclose the full amount of Ghosn's compensation over several years. While in detention in a Japanese jail, Ghosn has not been allowed to have direct contact with his family. He remains incarcerated while awaiting trial on charges he committed financial crimes while heading Nissan.

At a bail hearing earlier this month, Ghosn spoke publicly for the first time about his detention and denied the charges against him.

"I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations," Ghosn told the judge at his hearing.

Last week, Ghosn's wife released a letter she sent to Human Rights Watch decrying the treatment her husband has faced while detained and investigated.

"For hours each day, the prosecutors interrogate him, browbeat him, lecture him, and berate him, outside the presence of his attorneys, in an effort to extract a confession. No human being should be detained under conditions so harsh that their only plausible purpose is to coerce a confession," Carole Ghosn wrote.