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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Nissan Motor : Accused Ghosn escape plotters too much flight risk for bail - U.S. judge

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07/13/2020 | 09:16am EDT
Former Nissan chairman Carlos Ghosn talks during an interview with Reuters in Beirut

(This 10th July story corrects date in final paragraph to July 28)

By Nate Raymond

A U.S. judge said on Friday two Massachusetts men pose too great of a risk of flight to be released on bail given "spectacular" allegations that they helped orchestrate former Nissan Motor Co Chairman Carlos Ghosn's escape from Japan.

U.S. Magistrate Judge Donald Cabell said U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, had also failed to show they would likely succeed in fighting the charges underlying Japan's recent request for their extradition.

Ghosn fled to Lebanon, his childhood home, after being charged with engaging in financial wrongdoing, including by understating his compensation in Nissan's financial statements. He denies wrongdoing.

Cabell cited allegations that the elder Taylor, a private security specialist, "used his skills and experience to plan and execute a most intricate, sophisticated, and deceptive scheme" to smuggle Ghosn out of Japan in a box on Dec. 29, 2019.

He said the Taylors also appeared to have "substantial resources" they could exploit to potentially flee, including about $860,000 that Ghosn appears to have wired to a company co-managed by Peter Taylor two months before the escape.

The Taylors had argued that the charges against them were fatally flawed, as Japanese penal code does not make it a criminal offense to help someone "bail jump" or escape unless that person is in custody.

But Cabell said that argument ignored other "unambiguous" language in the penal code that allows people to face charges if they enable someone's escape, "without regard to whether the criminal was or was not in confinement."

Paul Kelly, a lawyer for the Taylors, said in a statement they did not commit an extraditable offense and "should not be held in custody during a pandemic while these issues are being litigated."

A different judge will consider further bail arguments on July 28.

(Reporting by Nate Raymond in Boston; Editing by Richard Chang)

Stocks mentioned in the article
ChangeLast1st jan.
NISSAN MOTOR CO., LTD. 0.10% 416.5 End-of-day quote.-34.52%
RENAULT -0.57% 24.44 Real-time Quote.-41.73%
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Financials
Sales 2021 7 804 B 73 213 M 73 213 M
Net income 2021 -427 997 M -4 015 M -4 015 M
Net Debt 2021 6 355 B 59 620 M 59 620 M
P/E ratio 2021 -3,93x
Yield 2021 -
Capitalization 1 630 B 15 306 M 15 289 M
EV / Sales 2021 1,02x
EV / Sales 2022 0,92x
Nbr of Employees 136 134
Free-Float 45,6%
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 441,67 JPY
Last Close Price 416,50 JPY
Spread / Highest target 255%
Spread / Average Target 6,04%
Spread / Lowest Target -42,4%
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Managers
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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