Tokyo District Court grants bail to Nissan’s Greg Kelly

With the Tokyo District Court setting the bail amount to $635,612, Greg Kelly is likely to spend Christmas night at home.

On Tuesday, a Tokyo District Court granted Greg Kelly, the former Representative Director at Nissan Motor Co, bail thus raising the prospects that he could be freed before the day comes to and end.

The court set his bail at $635,612 (70 million yen).

Kelly has been detained along with Nissan’s ousted Chairman Carlos Ghosn on November 19, on suspicion of understating Ghosn’s income for several years.

Prosecutors can however appeal the decision of the court.

On Sunday, the same court had extended Ghosn’s detention for another 10 days following fresh allegations of accounting his personal investment losses in Nissan’s books.

On Friday, Ghosn was re-arrested based on suspicions that in around October 2008 his personal trading losses were transferred to Nissan to the tune of $16.6 million (1.85 billion yen).

Further, prosecutors have alleged that Ghosn had deposited a total of $14.7 million on four separate occasions between June 2009 and March 2012 into a related bank account, thus creating a loss for Nissan.

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