Carlos Ghosn, the former bellwether of the Renault Nissan Alliance is once again under arrest and detention in Japan. Ghosn had been released under strict bail conditions on March 6 following his arrest on November 19. He was first arrested in Japan during a routine business trip. Unknown to him, Japanese prosecutors were waiting to charge him over alleged financial irregularities during his tenure of the Nissan Renault Alliance.

His fourth arrest follows a tweet he released where he said “the full truth will be revealed”. Japanese prosecutors arrested him at his residence in the early hours of the morning and charged him with breach of trust.

Chosn’s list of financial irregularities is growing, Japanese prosecutors are accusing Ghosn of funneling corporate money, as much as $34m, to buy a yacht.

Ghosn was planning to convene a press conference to explain his “story”. However, it seems this act may well have been a technical breach of the legal case being made against him.

Of his latest arrest Ghosn released a statement:

“I was scheduled to present my story in a press conference next week; by arresting me again, the prosecutors have denied me that opportunity, for now, but I am determined that the truth will come out. I am confident that if tried fairly, I will be vindicated.”

Ghosn is facing multiple indictments of funneling Renault Nissan money for his own personal use. Often the payments were signed off as marketing expenses.

Prosecutors allege these so-called marketing expenses were misappropriated into personal loans for Ghosn to use as he pleased.

Japanese prosecutors have charged Ghosn with falsifying company financial filings to hide $80 million in deferred compensation. If found guilty the former Renault Nissan CEO faces up to 15 years in prison.

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