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Former Nissan chairman Ghosn to appear in court for detention hearing

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Former Nissan chairman Ghosn to appear in court for detention hearing

This is the latest twist in a series of twists that were completely unexpected.

Ghosn, one of the most powerful figures of the automobile sector worldwide, has been in detention since November 19 in Tokyo on several charges, including allegedly underreporting his income.

He was given another arrest warrant on December 21, further extending his detention, on suspicion he transferred personal investment losses to the tune of 1.85 billion yen (17.12 million US dollars) to Nissan in 2008.

The hearing is scheduled for the Tokyo district court at Tuesday at 10.30am local time.

The detainee is allowed to state his opinions.

The case has shown light on the legal system of Japan since the chairperson was arrested on the 19 of November.

They suspect he conspired with his right-hand man, U.S. executive Greg Kelly, to hide away around half of his income (some five billion yen or $44 million) over five fiscal years from 2010.

Mr Ghosn was initially arrested as he flew into Tokyo on a company jet, and questioned over claims that for five years from 2010 he under-reported his pay by.

Prosecutors have also alleged that Ghosn temporarily shifted 1.85 billion yen ($16.6 million) of losses from his private investments onto a Nissan subsidiary as the global financial crisis erupted in October 2008.

As part of that scheme, he is also accused of having used Nissan funds to repay a Saudi acquaintance who put up collateral money.

Ghosn, a Brazilian-born French citizen who grew up in Lebanon, is yet to issue a detailed public statement in response to the allegations against him. In Japan, indictment paves the way for prosecutors to lay formal charges.

Kelly denies any wrongdoing.

Ghosn's arrest strained Nissan's relations with its French strategic partner Renault, where he remains board chairman and CEO.

Meanwhile, fresh claims against Ghosn appear nearly daily in the Japanese media.

According to the public broadcaster, NHK, there could be a public hearing within five days.

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