Carlos Ghosn, jailed for more than 100 days, set to be released on bail

TOKYO: Former Nissan Motor Co Chairman Carlos Ghosn was set to be released on an US$8.9 million bail on Wednesday, giving the once-feted executive fresh impetus to build a defense against what he has called"meritless" financial misconduct charges.

The court granted bail to the former chairman of Nissan, Renault and Mitsubishi Motors after his lawyers assured the court that Ghosn would remain in Tokyo, surrender his passport to his lawyer and submit to extensive surveillance. He faces charges of aggravated breach of trust and under-reporting his compensation to the tune of US$82 million at Nissan for nearly a decade. If convicted on all charges, Ghosn faces up to 10 years in jail."I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," he said in a statement on Tuesday.

Last month he hired lawyer Junichiro Hironaka, nicknamed"the Razor" for his success at winning acquittals in several high-profile cases. Hironaka has said he will take a different approach to Ghosn's initial legal team, suggesting a more aggressive defense strategy.

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