Senin, 06 Januari 2020

Ghosn snuck onto bullet train in daring escape from Japan - Fox Business

Nissan Chairman Carlos Ghosn speaks during an interview in Hong Kong. A Japanese news report says former Nissan chairman Ghosn will be detained at least through Jan. 11, 2019. (AP Photo/Kin Cheung, File) (AP)

TOKYO (Reuters) - Former Nissan (7201.T) and Renault (RENA.PA) boss Carlos Ghosn began his astonishing escape from Japan with a bullet train ride from Tokyo to Osaka, possibly accompanied by several people, Japanese news agency Kyodo reported Monday.

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Japanese authorities also said on Monday they may still press for Ghosn’s extradition from Lebanon to face multiple charges of financial wrongdoing, even though the country does not normally extradite its nationals.

Security cameras captured Ghosn leaving his home on Dec. 29 at about 2:30 p.m. (0530 GMT) and arriving some hours later at Tokyo’s Shinagawa Station, where he took the train to Shin Osaka Station, Kyodo said, citing a person familiar with the matter.

FORMER NISSAN CEO GHOSN'S ESCAPE INEXCUSABLE, JAPAN SAYS

The international fugitive then went by car to a hotel near Osaka’s Kansai International Airport, where he boarded a private jet at 11:10 p.m., according to the media report.

Ghosn was forbidden from leaving Japan while awaiting trial on charges of financial misconduct, which he has denied, but he fled at the end of last year to escape what he called a “rigged” justice system.

Prosecutors are now working with police to piece together Ghosn’s route and find out who helped him, Kyodo said.

In the government’s first briefing since Ghosn skipped bail, Justice Minister Masako Mori said on Monday that as a general principle, Tokyo could request the extradition of a suspect from a country with which it has no formal extradition agreement.

Such a request would need to be carefully examined based on the possibility of “guaranteeing reciprocity and the domestic law of the partner country”, Mori told reporters in Tokyo.

ARREST WARRANT

Mori did not say what would guarantee reciprocity - the idea that benefits or penalties extended by one country to citizens of another should be reciprocated. She also did not say if there were any Lebanese nationals in Japan wanted in Lebanon.

Mori offered little insight into the events of Ghosn’s escape to his ancestral home, repeatedly saying she could not comment on specifics because of an ongoing investigation.

Japanese officials broke days of silence about the Ghosn case on Sunday, saying they would tighten immigration measures and investigate his escape thoroughly. The authorities have also issued an international notice for his arrest.

Government offices and most businesses in Japan have been shut for the New Year holidays, which formally ended on Monday.

Lebanon has said it received an Interpol arrest warrant for Ghosn and that he entered the country legally. A senior Lebanese security official, meanwhile, has said Lebanon does not extradite its citizens.

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Mori also defended Japan’s justice system against Ghosn’s charges that it was “rigged” and discriminatory.

In Japan, suspects who deny charges against them are often detained for long periods and subject to lengthy questioning without a lawyer present, a system critics call “hostage justice”.

“Various comments about Japan’s justice system and this unjust departure are two different things,” Mori told reporters, saying criticism of the justice system could not be used to justify Ghosn’s escape.

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2020-01-06 11:52:34Z
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Global Markets: Shares erase new year gains, gold, oil soar on U.S. and Iran trade threats - Yahoo Finance

An investor uses his mobile phone in front of a stock quotation board at a brokerage office in Beijing

By Ritvik Carvalho

LONDON (Reuters) - Tensions in the Middle East after the killing of a top Iranian general by the United States erased new year gains for a gauge of world shares on Monday as investors pushed safe-haven gold to a seven-year high, and oil jumped to its highest since September.

The United States detected a heightened state of alert by Iran's missile forces, as President Donald Trump warned the U.S. would strike back, "perhaps in a disproportionate manner", if Iran attacked any American person or target.

Iraq's parliament on Sunday recommended all foreign troops be ordered out of the country after the U.S. killing of the Iranian military commander and an Iraqi militia leader in a drone strike on a convoy at Baghdad airport.

Spot gold gained 1.6% to $1,579.72 per ounce in jittery trade to reach its highest since April 2013.

Oil prices extended gains on fears any Middle East conflict could disrupt global supplies.

Brent crude futures rose 2.04% to $70 a barrel, while U.S. crude climbed 1.7% to $64.12.

European shares extended losses and were set for their worst day in a week, with the pan-European STOXX 600 index down 1.12% by 0838 GMT. The European oil and gas stock index rose about 0.74% and was the sole gainer among its peers, hitting its highest since July.

"Geopolitical events by their nature are unpredictable, but previous periods of increased tensions suggest that the impact on wider markets tends to be short-lived, with more lasting effects confined to local markets," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

"In general, this supports holding a diversified portfolio."


BIGGEST FALL

MSCI's All-Country World Index, which tracks shares in 47 countries, was down 0.43%, erasing all its new year gains in its biggest two-day fall since early December.

In Asia, Japan's Nikkei slid almost 2% in a sour return from holiday, while E-Mini futures for the S&P 500 fell 0.7%.

Chinese shares, which had opened in the red, reversed their losses, as did Australian shares which ended the day flat. Hong Kong's Hang Seng index lost 0.8%.

Sovereign bonds benefited from the safety bid with yields on 10-year Treasuries down at 1.7725% having fallen 10 basis points on Friday.

The yen remained the favoured safe haven among currencies thanks to Japan's massive holdings of foreign assets. Investors assume Japanese funds would repatriate their money during a true global crisis, pushing the yen higher.

"Iran is almost certainly to respond in some scale, scope and magnitude," said Lee Hardman, currency analyst at MUFG.

Therefore "market participants are likely to remain nervous until there is more clarity over how geopolitical tensions between the U.S. and Iran will proceed", Hardman said, noting that geopolitical tensions could hurt global economic growth, especially if the price of oil increases.

On Monday, the dollar was last at 107.965 yen, after falling to a three-month trough of 107.77 earlier in the session. The euro likewise eased to 120.61 yen having hit a three-week low.

The dollar was steadier against other majors, with the euro a tad firmer at $1.1172. Against a basket of currencies, the dollar was holding at 96.839.

The risk sensitive currencies of Australia and New Zealand were on track for their fourth straight session of losses.


(Reporting by Ritvik Carvalho; additional reporting by Olga Cotaga in London and Wayne Cole and Swati Pandey in Sydney, editing by Ed Osmond)

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2020-01-06 09:00:00Z
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Stocks continue decline, oil, gold rise on Middle East tensions - Yahoo Finance

U.S. equity futures fell on Monday, picking up where equities left off on Friday as tensions escalate in the Middle East following the U.S. airstrike that killed an Iranian general.

The major futures indexes are indicating a decline of 0.6 percent, or a drop of 160 points on the Dow.

Benchmark U.S. crude oil climbed $1.10, or 1.7 percent, to $64.15 per barrel. It jumped 3.1 percent to $63.05 per barrel on Friday.

Brent crude, used to price international oils, rose $1.42 or 2 percent to $70.02 per barrel. It rose $2.35, or 3.5 percent, to close at $68.60 per barrel on Friday.

The price of gold, which investors buy in times of uncertainty as a safe haven of value, rose $23.30, or 1.5 percent, to $1,575 per ounce.

In Asia on Monday, Japan's Nikkei slid 1.9 percent, Hong Kong's Hang Seng lost 0.8 percent and China's Shanghai Composite was little changed.

In Europe, London's FTSE slipped 0.5 percent, Germany's DAX dropped 1.1 percent and France's CAC was down 0.8 percent.

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Technology, financial and health care stocks accounted for much of the selling Friday on Wall Street. Companies that rely on consumer spending also fell, along with airlines. Several energy stocks got a boost from higher oil prices. Defense contractors also notched gains.

President Donald Trump said the attack was ordered because Soleimani was plotting to kill many Americans. The Pentagon took steps to reinforce the American military presence in the Middle East in preparation for reprisals from Iran.

TRUMP WARNS OF SANCTIONS IF IRAQ TRIES TO EXPEL U.S. TROOPS

The air strike marks a major escalation in the conflict between Washington and Tehran, just as investors were basking in expectations of a settling of trade tensions between the U.S. and China.

A report in the Hong Kong newspaper South China Morning Post said Chinese officials planned to leave for Washington on Jan. 13 for a Jan. 15 signing of a “Phase 1” trade deal that the two sides said would be signed in early January.

The S&P 500 dropped 0.7 percent, ending with a 0.2% loss for the week. The Dow Jones Industrial Average fell 0.8 percent and the Nasdaq lost 0.8 percent.

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The major stock indexes were coming off record highs after closing out 2019 earlier in the week with the best annual performance by the S&P 500 and Nasdaq since 2013.

The Associated Press contribute to this article.

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2020-01-06 07:55:21Z
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Defying gravity? What could bring U.S. stocks down to earth - Reuters

NEW YORK (Reuters) - The U.S. stock market’s relentless drive higher has caused some nail-biting on Wall Street that the rally is about to end. Geopolitical risks – such as the latest escalation of U.S. tensions with Iran - are just one on a list of worries for 2020.

FILE PHOTO: Traders work at the New York Stock Exchange (NYSE) in New York, U.S., December 31, 2019. REUTERS/Bryan R Smith

Stocks ended 2019 with their best year since 2013, with the benchmark S&P 500 .SPX rising nearly 29%. That's put the S&P index at just under the 3,260 level that a Reuters poll forecast the index would achieve at the end of 2020.

Some investors are now increasingly nervous that the year-end “melt-up” in shares will turn into a scary melt-down.

Here are some of the risks preoccupying Wall Street as the 2020 gets under way:

(GRAPHIC: S&P 500 vs other assets - here )

PROMISED PROFIT REBOUND FLAILS

The stock market’s stunning 2019 gains came despite a lackluster year for corporate profit growth, but performance may suffer if earnings lag in 2020.

Fourth-quarter reporting season starts in the coming days and results are expected to be anemic, with S&P 500 earnings seen down 0.3%, according to Refinitiv data.

But analysts expect S&P 500 earnings to rise 9.7% in 2020. There are some skeptics, notes Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana, who said bears are “still having some negative thinking that corporate profits aren’t going to be all that great (in 2020) because the economy is probably going to be a little softer.”

Indeed, data on Friday showed the U.S. manufacturing sector contracted in December by the most in more than a decade.

(GRAPHIC: S&P 500 earnings by quarter since 2015 - here )

U.S.-CHINA RELATIONS SOUR

An initial U.S.-China trade agreement provided a year-end boost for stocks, but any hitch in the Phase 1 deal between the world’s two largest economies could rattle markets.

“The rivalry between the U.S. and China hasn’t gone away,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a recent note.

“Investors will be alert for any sign that tensions are re-emerging, or either side is dissatisfied with the implementation of the Phase 1 agreement,” Haefele said.

LESS FED SUPPORT

Some point to the Federal Reserve as a trigger.

“When the Fed injects money, funds generally flow to the best-returning market,” said analysts at Bianco Research in a recent note. “The big question is, what happens when the Fed ends T-bill purchases and repo support,” said Bianco.

In October, the Fed announced that it would start buying about $60 billion per month in Treasury bills to ensure “ample reserves” in the banking system, a program that would continue at least until the second quarter. The Fed would also continue to support the short-term lending markets by offering daily operations in the market for repurchase agreements, or repo.

“Be wary of a correction in the first half as Fed balance sheet increases wane,” said Andrew Brenner, head of international fixed income at NatAlliance Securities, in a note.

(GRAPHIC: Repo and balance sheet expansion - here )

VOLATILE U.S. POLITICAL LANDSCAPE

Markets will increasingly focus on the U.S. presidential race as Democratic primaries begin next month and the general election in November draws closer.

Several prominent investors have warned of steep stock declines should a progressive candidate secure the Democratic nomination and defeat President Donald Trump. Of particular concern is if Democrats sweep the presidency and both houses of Congress, paving the way for major policy overhauls.

Investors currently see little market risk from the impeachment of Trump. That could change if U.S. senators in Trump’s own Republican party begin defecting against him in significant numbers in the Senate trial.

OVERLY OPTIMISTIC INVESTORS

As the market soared in 2019, so did investor bullishness about equities despite rising valuations, a potential sign to be wary.

According to the AAII Investor Sentiment Survey, bullish sentiment rose in the Dec. 19 reading to its highest level since October 2018, just before the market endured a year-end swoon. Such bullishness has since pared back to around historical averages.

“Some of the sentiment readings have turned pretty aggressively,” said Horizon’s Carlson. “While we may not be there yet, that would be something to watch as we go into the early part of 2020, is ‘are we getting a little too excited or too ebullient on this market.’”

(GRAPHIC: Investor optimism vs stock returns - here )

GEOPOLITICAL TENSIONS AND AN OIL SHOCK

Stocks were hit on Friday and investors moved into safe-haven assets after a U.S. air strike in Baghdad killed Iran’s most prominent military commander.

“Geopolitics has come back to the table and this is something that could have major cross asset implications,” said Salman Ahmed, chief investment strategist at Lombard Odier Investment Management in London.

Slideshow (2 Images)

Oil prices spiked Friday and a surge in the commodity remains a concern. Aside from the situation in Iran, Barry Bannister, Stifel’s head of institutional equity strategy, said Saudi Arabia may look to boost oil prices as it seeks to list ARAMCO on a larger exchange.

December saw WTI CLc1 rise more than 10% and Brent LCOc1 advance nearly 6%. With the dollar index .DXY falling 3% in the fourth quarter, continued weakness could result in a further climb in crude prices, and stagflation may result if the dollar continues to weaken while crude prices continue to accelerate.

Beyond flaring Middle East tensions, Haefele of UBS notes that risks regarding Britain’s exit from the European Union have “abated, though not quite disappeared, and while his “base case is that a hard Brexit is avoided, this will likely remain a concern for investors in coming months.”

Additional reporting by Megan Davies, Dan Burns and Chuck Mikolajczak in New York, Sujata Rao in London; editing by Megan Davies and Nick Zieminski

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2020-01-06 06:06:00Z
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Minggu, 05 Januari 2020

3 Top Pipeline Stocks to Buy in January - Motley Fool

Pipeline stocks delivered decent performances overall in 2019. The average one in the Alerian Energy Infrastructure ETF -- an exchange-traded fund that holds 36 of North America's largest pipeline companies -- generated a 22% total return. While that fell a bit short of the S&P 500's more than 30% total return, it was a solid showing for the yield-focused sector. 

Several top pipeline stocks, however, underperformed last year even though they delivered strong results. Among those notable underachievers were master limited partnerships Energy Transfer (NYSE:ET)Plains All American Pipeline (NYSE:PAA), and MPLX (NYSE:MPLX). They stand out as the most compelling pipeline stocks to buy this January because of their appealing combination of yield and growth at bottom-of-the-barrel valuations.

Pipelines heading towards the bright sun.

Image source: Getty Images.

A big-time yield and growth prospects for a rock bottom price

Units of Energy Transfer declined by about 3% last year. Though on a more positive note, the midstream giant generated a positive 6% total return after adding in its distribution, which currently yields an eye-popping 9.4%. That payout's on solid ground, since Energy Transfer generates enough cash to cover it by a comfortable 1.98 times.

Last year's slump in the company's unit price doesn't make much sense, given that it was on track to grow its earnings by 16%. It now trades at a rock-bottom valuation of around 8 times earnings. For comparison's sake, most pipeline stocks sell for more than 10 times earnings.

With more growth coming down the pipeline in 2020, Energy Transfer looks as attractive as ever since it could use its rising cash flow to boost its big-time payout or repurchase its deeply discounted units. That upside potential makes it one of the best energy stocks to buy these days.

The performance didn't match the underlying results

Plains All American's unit price slumped about 8% last year. Even after adding in its distribution, which currently yields 7.8%, the total return was a negative-2% on the year.

That lackluster return came even though Plains All American is on track to grow its earnings by 15% this year, thanks to recently completed pipeline projects and the strength of its supply and logistics business. The company expects to cover its high-yielding distribution with cash by a comfortable 2.06 times, and it now trades at less than 8 times its earnings. 

While Plains All American expects to grow at a much slower rate in 2020, the company sees a reacceleration ahead in 2021 due to the upcoming completion of several more pipeline projects. That should enable the oil-focused pipeline company to continue increasing its high-yielding payout, making it a great income stock to buy for the long haul this month.

No reward for a monster year

MPLX was the worst performer in this group, as its units tumbled 16% last year. While the addition of its high-yielding distribution -- which is currently up to an eye-popping 10.6% -- helped cushion the blow, the MLP's total return was still a negative-8% on the year.

Again, that lackluster performance didn't match the company's results. Its cash flow rocketed nearly 50% through the third quarter because of the success of its expansion program and the acquisition of an affiliated MLP. Because of that, MPLX was able to generate enough cash to cover its big-time payout by a comfortable 1.54 times.

While MPLX won't grow quite as fast in 2020 as it shifts gears to focus on its highest return expansion opportunities, it has enough fuel to grow at a healthy rate over the next few years. It should be able to continue increasing its high-yielding payout, making it an excellent income-stock to buy this month.

High yields for lower prices

All three of these pipeline stocks unperformed in 2019, even though they delivered strong earnings growth. Now they enter 2020 with dirt cheap valuations and higher yields. That makes them the top options for investors seeking to pipe some income into their portfolio this year.

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2020-01-05 13:13:00Z
CBMiVmh0dHBzOi8vd3d3LmZvb2wuY29tL2ludmVzdGluZy8yMDIwLzAxLzA1LzMtdG9wLXBpcGVsaW5lLXN0b2Nrcy10by1idXktaW4tamFudWFyeS5hc3B40gFaaHR0cHM6Ly93d3cuZm9vbC5jb20vYW1wL2ludmVzdGluZy8yMDIwLzAxLzA1LzMtdG9wLXBpcGVsaW5lLXN0b2Nrcy10by1idXktaW4tamFudWFyeS5hc3B4

Carlos Ghosn: Disgraced Nissan executive's despair over Japanese justice may have prompted escape - The - The Washington Post

Issei Kato Reuters Former Nissan Motor Chairman Carlos Ghosn sits inside a car as he leaves his lawyer's office after being released on bail from Tokyo Detention House, in Tokyo, Japan, March 6, 2019.

TOKYO — As the months went by, former Nissan boss Carlos Ghosn became increasingly convinced that he had no chance of a fair trial in Japan, with anger at his arrest giving way to despair and then a decision to flee the country, his lawyer said.

It all came to a head with an emotional video call with his wife on Christmas Eve, lawyer Takashi Takano said, during which Ghosn lost hope of ever being able to lead a normal family life.

The lawyer’s impassioned defense of Ghosn and scathing attack on Japan’s legal system has divided opinion here, even as the country’s justice minister broke a week of silence to defend the treatment of the flamboyant business executive.

Justice Minister Masako Mori called Ghosn’s departure “presumably illegal,” unjustifiable and “extremely regrettable,” adding there was no record of him leaving the country.

In her first statement after a week-long New Year’s holiday here, she promised a thorough investigation, and directed the Immigration Services Agency to tighten immigration procedures at departure.

[Carlos Ghosn walked out of his home alone, security camera footage shows]

Ghosn has said he was fleeing political persecution and a rigged justice system.

Takano described how Ghosn would ask his lawyers the same question again and again as the months went by: could he expect a fair trial in Japan. Their answer was always no — no criminal defendant in Japan can expect a fair trial. Still, they argued, the evidence against him was weak, and there was still a good chance they would establish his innocence.

Prosecutors enjoy considerable powers in Japan, and once they decide to accept a case, conviction rates are around 99 percent. But more than any other lawyers in this country, Ghosn’s defense team had a track record of getting people off the hook.

“Please trust us,” Takano would tell Ghosn.

“Apparently, his doubts and concerns began to grow,” Takano said, alleging prosecutors were slow to respond to requests for the disclosure of evidence, imposed minute restrictions on how evidence would be disclosed, and even eliminated some of the evidence, all the while leaking “as much as they liked” to the Japanese media.

In his regular meetings with his lawyers, Ghosn’s frustration showed in his face as he asked questions, Takano said. But over time the questions became fewer, as anger gave way to despair.

AP

AP

Junichiro Hironaka, center, lawyer for Nissan's former chairman Carlos Ghosn, speaks to the media in Tokyo Jan. 4, 2020.

Ghosn was accused of four charges of financial misconduct while running Nissan, including underreporting his income and using company money for his own benefit. But he says he was the victim of a conspiracy between prosecutors, officials and Nissan to block his plans to deepen the company’s merger with its French partner Renault.

Even Renault, initially supportive, said its internal investigations had found evidence of unethical practices. Nevertheless, Japanese business executives accused of far more serious crimes have been let off or given little more than a slap on the wrist, and many foreign executives here see Ghosn’s treatment as an example of double standards.

But stresses on his family life may also have played a role in his decision to flee.

Under the terms of his bail, Ghosn was forbidden by the court from meeting his wife Carole, or even speaking to her for seven months, on the grounds they might conspire to tamper with evidence.

“This is a criminal punishment,” Ghosn complained to his lawyers. “When am I ever going to be able to lead a normal family life?”

[Opinion: My husband, Carlos Ghosn, is a victim of Japan’s ‘hostage justice’ system]

On Christmas Eve, Ghosn was allowed a one-hour video call with Carole, in a lawyer’s office, the first in a month. They talked about their children, relatives and friends, their lives and their memories, Takano said.

“There was no shortage of things to talk about,” Takano said. “Just when the time had come for them to stop after an hour, he spoke to the display: ‘My relationship with you cannot be replaced by children and friends. You are my indispensable presence. I love you.’”

The lawyer said he was deeply moved.

“I have never felt such strong despair over Japan’s legal system as I did at that time. I felt something nearly close to a sense of wanting to kill. I said to him ‘Carlos, I am very sorry. Truly, the Japanese system is shameful. I will do our utmost to improve this situation as soon as possible,’” he said.

Ghosn didn’t respond.

On Dec. 25, just a day after his video call. Ghosn learned that his trial, initially expected to begin April, could be delayed further, possibly into 2021, lawyers and friends say. That news played a part in his decision to flee, his friend Ricardo Karam said, a suggestion supported by another of Ghosn’s defense lawyers, Junichiro Hironaka,

“I wonder if he was strongly shocked in those two days,” he told the Asahi newspaper.

Four days later, at noon on Sunday, Dec. 29, Ghosn strolled out of his home, alone, never to return, Japan’s NHK reported.

Although surveillance cameras had been installed outside the property, the system was only designed to prevent him holding unauthorized meetings and not to keep him under house arrest, and footage was only handed over to the court once a month, Takano says.

Concerned that Ghosn could tamper with evidence, Nissan had hired a private security firm to track him when he left his home, Reuters and Japan’s Sankei newspaper reported.

But on Dec. 27, Ghosn’s lawyers filed a criminal complaint to Tokyo police about the surveillance, and it was withdrawn, lawyer Hironaka told the Asahi newspaper.

Ghosn bypassed immigration at Osaka’s Kansai airport by hiding in a large black case typically used to carry audio gear, according to the Wall Street Journal, while his name was not included on the plane’s passenger manifest.

Maya Alleruzzo

AP

A private security guard watches journalists through a closing garage door after a vehicle arrived at the house of ex-Nissan chief Carlos Ghosn in Beirut, Lebanon, Jan. 4, 2020.

On Sunday, Tokyo prosecutor’s office said Ghosn’s escape constituted a crime. It also defended the country’s legal system, arguing that although conviction rates are high, defendants are given a proper chance to present their case and courts reach judgments strictly on the basis of the evidence.

Ghosn was initially detained for more than 100 days, released on bail and then rearrested in April shortly after he announced plans to speak to the press. He was finally released on bail again for a further amount of nearly $5 million, after convincing the court he was not a flight risk.

[Former Nissan, Renault boss Carlos Ghosn rearrested on fresh charges in Japan]

Takano said he learned of Ghosn’s escape only through news reports.

“Initially, I felt a strong anger, a sense of having been betrayed. Yet, looking back how he has been treated by this country’s legal system, my anger went in a different direction,” he said. “Indeed I was betrayed. But it is not Carlos Ghosn who betrayed me.”

But Takahiro Saito, deputy chief of the Tokyo District Public Prosecutor’s Office, defended the decision to detain Ghosn for so long, and oppose bail, arguing he had “significant influence” inside Japan and around the world, and there had been a realistic danger he would destroy evidence.

“The defendant Ghosn had abundant financial power and multiple foreign bases. It was easy for him to flee,” Saito said in a statement.

Many Japanese people see Ghosn’s escape as something of a national embarrassment. Takano’s defense of Ghosn had received hundreds of thousands of views by Sunday, 11,000 likes but many angry comments directed at Ghosn and the lawyer.

Read more:

Accused of serious crimes, he smuggled himself out of Japan. But Carlos Ghosn may escape extradition from Lebanon, too.

Carlos Ghosn might not be as safe in Lebanon as he thought

Ex-Nissan boss Carlos Ghosn flees to Lebanon, slams Japan’s justice system

Today’s coverage from Post correspondents around the world

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2020-01-05 12:44:00Z
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Japanese authorities vow to tighten immigration rules after Carlos Ghosn's escape - CNN

Ghosn left Japan "illegally by unjust methods," said Justice Minister Masako Mori, the country's top judicial official. She said that authorities have no official record of Ghosn's departure from Japan, and that prosecutors are investigating the case.
Mori also said she has ordered the country's immigration department to "further tighten" rules for leaving the country "so that the same situation won't be repeated."
Mori's statement — along with a similar one published Sunday by a Tokyo prosecutor — marked the first time Japanese authorities addressed Ghosn's stunning escape last week. Government offices in the country had been closed all week for the New Year holiday.
Ghosn's escape: How the wealthy and powerful evade justice
Ghosn — the former chairman of Nissan and Mitsubishi Motors, and former chairman and CEO of their alliance partner, Renault — had been awaiting trial in Japan on charges of financial wrongdoing. As a condition of his release on bail, Ghosn was required to stay in Japan. But the case was upended after Ghosn revealed that he had fled Japan for Lebanon to escape what he called a "rigged" justice system.
Mori defended the country's justice system on Sunday, adding that it assured "fundamental human rights" and set out to "find out the truth of the case."
She also said that Ghosn's bail has been "canceled," and confirmed that the Japanese government asked Interpol, the international police agency, to issue a "red notice" for Ghosn. Lebanon said last week that it had received that notice, confirming that Ghosn is wanted by police.
Takahiro Saito, Tokyo's deputy chief prosecutor, said in his own statement Sunday that Ghosn "deliberately ignored" Japan's justice proceedings by fleeing the country, even though his bail barred him from overseas travel. Saito added that Ghosn's escape "could be a criminal act."
"Ghosn broke his own promise to attend the court and run away from Japan," Saito said. Both he and Mori called the event "regrettable."
Ghosn was arrested in November 2018 and has since faced a litany of charges, including allegations that he understated his income for years and funneled $5 million of Nissan's money to a car dealership he controlled. He was ousted from his posts at Nissan and Mitsubishi Motors following his arrest in November 2018, and later resigned from Renault. He has denied the charges against him.
Ghosn's Japanese lawyer, Junichiro Hironaka, said Saturday that the defense team would resign after contacting Ghosn this week. Hironaka had earlier told reporters that Ghosn's escape was a "complete surprise."
Authorities, meanwhile, have been scrambling to figure out how Ghosn pulled off the escape. Prosecutors in Tokyo raided the home where he had been staying last Thursday. Ghosn has denied reports that his family were involved in helping him flee.
Last week, a Turkish company that charters private jets confirmed that two of its planes were used "illegally" to transport Ghosn without the knowledge of company management. That company, MNG, said it has filed a criminal complaint.
-- Yoko Wakatsuki reported from Tokyo, Akanksha Sharma reported from Hong Kong and Amy Woodyatt wrote from London.

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2020-01-05 12:11:00Z
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