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Judge denies bail for men accused of sneaking Carlos Ghosn out of Japan

BOSTON — Two American men wanted by Japan on charges that they helped sneak former Nissan Chairman Carlos Ghosn out of the country in a box have again been denied release from a U.S. jail. U.S. District Judge Indira Talwani on Friday rejected a bid to free Michael Taylor, a 59-year-old U.S. Army Special Forces veteran, and his 27-year-old son, Peter Taylor, on bail while they fight their extradition to Japan. Talwani said a magistrate judge properly found the two men to be a risk of flight. “While the Taylors may well seek to remain in the United States to fight extradition through available legal channels, they have also shown a blatant disregard for such safeguards in the context of the Japanese legal system and have not established sufficiently that if they find their extradition fight difficult, they will not flaunt the rules of release on bail and flee the country,” Talwani wrote. An attorney for the Taylors declined to comment Saturday. Their lawyers have said the men have no plans to flee and argue their health is at risk behind bars because of the coronavirus pandemic. The Taylors have been locked up in a Massachusetts jail since their arrest in May. Authorities say the Taylors helped smuggle Ghosn out of the Japan on a private jet while he was on bail and awaiting trial on financial misconduct allegations. With former the Nissan boss hidden in a large box, the flight went first to Turkey, then to Lebanon, where Ghosn has citizenship but which has no extradition treaty with Japan. Ghosn said he fled because he could not expect a fair trial, was subjected to unfair conditions in detention and was barred from meeting his wife under his bail conditions. Ghosn has denied allegations that he underreported his future income and committed a breach of trust by diverting Nissan money for his personal gain. The Taylors have not denied helping Ghosn flee, but argue they can't be extradited. Among other things, they say that “bail jumping” is not a crime in Japan and, therefore, helping someone evade their bail conditions isnÂ’t a crime either. In a court filing on Friday, federal prosecutors urged Magistrate Judge Donald Cabell to rule that the men can be legally extradited. The U.S. Secretary of State will make the final decision on whether they will be handed over to Japan.

Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.

Nissan union wants French to stop meddling with Renault alliance

Nissan is getting some unexpected reinforcements in its ongoing battle with the French government over its involvement in Renault. Its Japanese union, which has traditionally been a very hands-off entity, issued harsh criticism for the French government's attempts to assert control over its alliance partner. According to Bloomberg, this is the first time in 16 years that Nissan's union has weighed on the company's affairs, and it's stating its position on the matter in no uncertain terms. The union called France's attempt at scoring double voting rights within Renault "unacceptable and against the intended spirit of the Alliance." "We support the numerous attempts of Nissan to engage with the French government to find a balanced and constructive solution that will benefit and strengthen the Alliance," the union said in a statement obtained by Reuters. It's unclear what impact the union speaking out will have on the current power struggle between Renault-Nissan CEO Carlos Ghosn (shown above) and the French government, but we doubt it'll contribute to any quicker of a conclusion. Related Video: News Source: Reuters, BloombergImage Credit: Itsuo Inouye / AP Government/Legal Nissan Renault France renault-nissan alliance