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| Carlos Ghosn insists he is innocent over fraud charge 'plot' – business live | Carlos Ghosn insists he is innocent over fraud charge 'plot' – business live |
| (32 minutes later) | |
| Rolling coverage of the latest economic and financial news | Rolling coverage of the latest economic and financial news |
| A late markets newsflash. The oil price is sliding, and shares are jumping on Wall Street, after Donald Trump spoke about the Iran crisis. | |
| The US president confirmed that no American troops were killed or injured by the rockets fired from Iran, and that Tehran appears to be ‘standing down’, after retaliating to the death of senior Iranian general Qassem Suleimani. | |
| Our liveblog has full details: | |
| Tokyo’s prosecutors office has hit back. | Tokyo’s prosecutors office has hit back. |
| In a statement, it says: | In a statement, it says: |
| If you missed the press conference, here’s some photos: | If you missed the press conference, here’s some photos: |
| It was billed as a press conference, but Carlos Ghosn’s long-awaited appearance before the world’s media also felt like a courtroom, with a Powerpoint presentation thrown in too. | It was billed as a press conference, but Carlos Ghosn’s long-awaited appearance before the world’s media also felt like a courtroom, with a Powerpoint presentation thrown in too. |
| But this courtroom, unlike the one he has avoided in Tokyo, gave the defendant free rein to explain why he’s innocent, M’Lud. | But this courtroom, unlike the one he has avoided in Tokyo, gave the defendant free rein to explain why he’s innocent, M’Lud. |
| Ghosn spent an hour presenting his own case, and then fended off suggestions that his fugitive status implies guilt. | Ghosn spent an hour presenting his own case, and then fended off suggestions that his fugitive status implies guilt. |
| But what did we learn? | But what did we learn? |
| 1) Ghosn blames a conspiracy between Nissan executives and forces within the Japanese government to bring him down. He named former CEO Hiroto Saikawa, whistleblower Hari Nada and board member Masakazu Toyoda, adding: | 1) Ghosn blames a conspiracy between Nissan executives and forces within the Japanese government to bring him down. He named former CEO Hiroto Saikawa, whistleblower Hari Nada and board member Masakazu Toyoda, adding: |
| He refused to name which government officials are to blame, beyond appearing to absolve PM Shinzo Abe. | He refused to name which government officials are to blame, beyond appearing to absolve PM Shinzo Abe. |
| 2) Japan’s judicial system is in the spotlight. Ghosn makes a fair point when he criticises the Japanese habit of forcing confessions out of those accused of crimes. | 2) Japan’s judicial system is in the spotlight. Ghosn makes a fair point when he criticises the Japanese habit of forcing confessions out of those accused of crimes. |
| Pouring out his anguish, the former CEO said: | Pouring out his anguish, the former CEO said: |
| 3) Ghosn claims he has proof that he’s innocent. Reporters were shown some documents which -- apparently -- explain away the $11m of dubious expense payments. | 3) Ghosn claims he has proof that he’s innocent. Reporters were shown some documents which -- apparently -- explain away the $11m of dubious expense payments. |
| He also produced a letter approving the houses bought for the Ghosn family, signed by Saikawa. | He also produced a letter approving the houses bought for the Ghosn family, signed by Saikawa. |
| Ghosn says he plans to prove his innocence. | Ghosn says he plans to prove his innocence. |
| 4) He’s burned his bridges in Japan. Savaging the Tokyo prosecutor is one thing. But citing Pearl Harbor as an example of Japanese cunning and secrecy is to deploy the diplomatic skills of Basil Fawlty. | 4) He’s burned his bridges in Japan. Savaging the Tokyo prosecutor is one thing. But citing Pearl Harbor as an example of Japanese cunning and secrecy is to deploy the diplomatic skills of Basil Fawlty. |
| Ghosn’s point is that he didn’t spot how his one-time allies were plotting to boot him out, to break Renault’s control over Nissan - and scupper a planned merged with Fiat-Crysler. But still, it was a poor analogy that will distract from Ghosn’s claims of innocence. | Ghosn’s point is that he didn’t spot how his one-time allies were plotting to boot him out, to break Renault’s control over Nissan - and scupper a planned merged with Fiat-Crysler. But still, it was a poor analogy that will distract from Ghosn’s claims of innocence. |
| 5) He’s devoted to Mrs Ghosn. I think Ghosn was trying to be chivalrous when he joked that he missed his wife badly when he was trapped in Japan, even if others might not. | 5) He’s devoted to Mrs Ghosn. I think Ghosn was trying to be chivalrous when he joked that he missed his wife badly when he was trapped in Japan, even if others might not. |
| As he touchingly put it: | As he touchingly put it: |
| This love is not unrequited -- Carole has spoken about how her husband’s return was a “beautiful surprise”. They share something else too -- charges in Japan. In her case, prosecutors claim she committed perjury last year. | This love is not unrequited -- Carole has spoken about how her husband’s return was a “beautiful surprise”. They share something else too -- charges in Japan. In her case, prosecutors claim she committed perjury last year. |
| 6) Lebanon might not be as safe as he hoped. Fleeing to Beirut looked like a cunning plan, as there’s no extradition treaty with Japan. But there is a law banning travel to Israel, which Ghosn has broken in the past. | 6) Lebanon might not be as safe as he hoped. Fleeing to Beirut looked like a cunning plan, as there’s no extradition treaty with Japan. But there is a law banning travel to Israel, which Ghosn has broken in the past. |
| Beirut’s prosecutor wants to discuss this with Ghosn tomorrow, alongside the Red Notice issued by Interpol for his arrest. | Beirut’s prosecutor wants to discuss this with Ghosn tomorrow, alongside the Red Notice issued by Interpol for his arrest. |
| 7) Be honest, you were hoping to hear Ghosn confirm whether he was bundled out of Toyko in a big musical box. I certainly was. But on this point, he remained tight-lipped. Perhaps he’s saving it for the film version (although he denies that there’s a deal with Netflix). | 7) Be honest, you were hoping to hear Ghosn confirm whether he was bundled out of Toyko in a big musical box. I certainly was. But on this point, he remained tight-lipped. Perhaps he’s saving it for the film version (although he denies that there’s a deal with Netflix). |
| After two and half hours, Carlos Ghosn’s press conference is ending as it began, with the former car chief insisting he is innocent. | After two and half hours, Carlos Ghosn’s press conference is ending as it began, with the former car chief insisting he is innocent. |
| If I’d had any hope of a fair trial, I’d never have fled, he says. | If I’d had any hope of a fair trial, I’d never have fled, he says. |
| He also criticises prosecutors for issuing an arrest warrant for his wife Carole, for allegedly giving false information. Why do that nine months afterwards? | He also criticises prosecutors for issuing an arrest warrant for his wife Carole, for allegedly giving false information. Why do that nine months afterwards? |
| And with that, he’s finished. | And with that, he’s finished. |
| Q: Are you the Dreyfus of Lebanon? | Q: Are you the Dreyfus of Lebanon? |
| Ghosn says he doesn’t understand the reference (to Alfred Dreyfus, the French captain, who was wrongly convicted of passing military secrets to Germany). | Ghosn says he doesn’t understand the reference (to Alfred Dreyfus, the French captain, who was wrongly convicted of passing military secrets to Germany). |
| Q: It means are you a victim? | Q: It means are you a victim? |
| Yes I am, says Ghosn firmly. He says that several law professors say they cannot understand why he was arrested, especially as some of the alleged financial misconduct refers to money that wasn’t even paid out. | Yes I am, says Ghosn firmly. He says that several law professors say they cannot understand why he was arrested, especially as some of the alleged financial misconduct refers to money that wasn’t even paid out. |
| Q: What were your emotions during your escape? | Q: What were your emotions during your escape? |
| Ghosn says he was numb, from the start of the drama until he met his wife Carole in her parents’ home in the Lebanon. | Ghosn says he was numb, from the start of the drama until he met his wife Carole in her parents’ home in the Lebanon. |
| Q: Would you recommend a packing case as a mode of travel? | Q: Would you recommend a packing case as a mode of travel? |
| Ghosn breaks into a grin, but won’t confirm that rumour that he was smuggled out of Japan in a large box. | Ghosn breaks into a grin, but won’t confirm that rumour that he was smuggled out of Japan in a large box. |
| Q: Can the Nissan-Renault-Mitsubishi alliance succeed without you? | Q: Can the Nissan-Renault-Mitsubishi alliance succeed without you? |
| Yes, says Ghosn modestly - but it needs to follow some rules. | Yes, says Ghosn modestly - but it needs to follow some rules. |
| Ghosn says he is ready to answer questions from the French authorities, who last year launched an inquiry into his wealth. | Ghosn says he is ready to answer questions from the French authorities, who last year launched an inquiry into his wealth. |
| Incidentally, the much-pined-after Carole Ghosn is attending today’s press conference, supporting her man. | Incidentally, the much-pined-after Carole Ghosn is attending today’s press conference, supporting her man. |
| Associated Press asks Ghosn what triggered his decision to escape Japan. | Associated Press asks Ghosn what triggered his decision to escape Japan. |
| Ghosn says there were two factors. First, the Tokyo prosecutor kept postponing his trial, saying it wouldn’t begin until 2021. | Ghosn says there were two factors. First, the Tokyo prosecutor kept postponing his trial, saying it wouldn’t begin until 2021. |
| Second, he missed his wife Carole, telling reporters that: | Second, he missed his wife Carole, telling reporters that: |
| How sweet. And yet, how rude! | How sweet. And yet, how rude! |
| Channel Four asks Ghosn about the damage to his reputation: | Channel Four asks Ghosn about the damage to his reputation: |
| Q: Won’t people say that ‘if a man escapes from a trial in a box there’s no smoke without fire’? | Q: Won’t people say that ‘if a man escapes from a trial in a box there’s no smoke without fire’? |
| Ghosn won’t be lured into confirming the details of his escape. He says many lies have been told about him, and repeats that he wants a fair trial over the claims of financial misconduct. | Ghosn won’t be lured into confirming the details of his escape. He says many lies have been told about him, and repeats that he wants a fair trial over the claims of financial misconduct. |
| Ghosn has reiterated that he had talked to Fiat-Chrysler about a possible merger with Renault, but the deal floundered after his arrest (allowing Peugeot to swoop in instead). | Ghosn has reiterated that he had talked to Fiat-Chrysler about a possible merger with Renault, but the deal floundered after his arrest (allowing Peugeot to swoop in instead). |
| Curiously, Ghosn denies that he resigned from Renault, saying such reports are a “travesty”. | Curiously, Ghosn denies that he resigned from Renault, saying such reports are a “travesty”. |
| That’s odd, as France’s finance minister Bruno Le Maire announced a year ago that Ghosn had quit as Renault’s chairman and CEO. | That’s odd, as France’s finance minister Bruno Le Maire announced a year ago that Ghosn had quit as Renault’s chairman and CEO. |
| Renault also announced that he had resigned both roles, but remained as a director. | Renault also announced that he had resigned both roles, but remained as a director. |