January 8, 2019 / 7:00 AM / a month ago

Ghosn's lawyer: Nissan agreed on transfer of currency contracts

FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau/File Photo

TOKYO (Reuters) - Nissan Motor Co had agreed with former chairman Carlos Ghosn to take on his personal foreign exchange contracts, his lawyer said, disputing allegations of financial misconduct.

Ghosn has been arrested on allegations including aggravated breach of trust in shifting personal investment losses worth 1.85 billion yen ($17 million) to the carmaker during the 2008–2009 financial crisis. Earlier on Tuesday, Ghosn declared his innocence to a Tokyo court.

Motonari Otsuru, head of Ghosn’s Japan-based legal team, told reporters at a news conference that the agreement with Nissan was based on the condition that any losses or gains from the currency swap contracts would be Ghosn’s.

($1 = 108.8700 yen)

Reporting by Tim Kelly and Naomi Tajitsu; Writing by Ritsuko Ando; Editing by Himani Sarkar

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