January 8, 2019 / 6:59 AM / 12 days ago

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

Go Kondo and Motonari Otsuru, lawyers of ousted Nissan Motor Co Ltd chairman Carlos Ghosn, address a news conference in Tokyo, Japan, January 8, 2019. REUTERS/Kim Kyung-hoon

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.

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

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