Ghosn Released from Japanese Jail

Carlos Ghosn, who had been incarcerated since Nov. 19 in a Tokyo jail, was released on bail earlier today.

The former Renault-Nissan chairman emerged in a phalanx of guards, disguised behind a surgical mask, blue cap and workman’s clothes with orange safety stripes. He was whisked away in a small work van to court-approved housing somewhere in the city.

Ghosn earlier had posted bail of 1 million yen ($8.9 million) to secure his release. He faces three charges of financial misconduct at Nissan that carry a maximum combined penalty of 10 years in prison.

He again declared himself innocent, calling the indictments “meritless and unsubstantiated.” Ghosn previously described himself the target of a plot by Nissan executives to block plans to merge the company with alliance partner Renault SA.

Ghosn’s trial isn’t expected to begin for several months. He has been charged with failing to report 9 billion yen ($81 million) in deferred compensation at Nissan over eight years, temporarily transferring 1.9 billion yen ($17 million) in personal currency trade losses to the Japanese carmaker and 1.6 billion yen ($14 million) in improper payments to a Saudi businessman.