Carlos Ghosn Was Arrested But Now freed From Japanese's Cell

One of the most prominent figures in the global auto industry, Carlos Ghosn was arrested by Japanese prosecutors on November 19 and freed after spending three months in Japanese cell.

He has since been ousted from his role as the head of Nissan, Renault and Mitsubishi Motors, which together form the world's largest carmaking alliance. His detention stunned the industry and strained the alliance, which makes one in nine cars sold worldwide and employs more than 450,000 people.

It also drew international attention to Japan's criminal justice system, in which authorities can keep suspects in jail for prolonged periods while building their case.

Tokyo District Court said that Ghosn, the former chief of Nissan (NSANF) and Renault (RNLSY), could be released on bail of 1 billion yen ($9 million) with the conditions that he remain in Japan and be prevented from seeking to destroy evidence. Prosecutors appealed the decision but lost, clearing the way for Ghosn to be freed.

The auto executive is awaiting trial on charges he understated his income and abused his position by transferring personal investment losses to the Japanese carmaker. Ghosn denies all the charges. If found guilty, he could face as many as 15 years in prison.