Ghosn Planned 3-B.-Yen Loans to Saudi Businessman

Society

Tokyo, Jan. 9 (Jiji Press)--Former Nissan Motor Co. <7201> Chairman Carlos Ghosn planned to use Nissan funds to extend loans worth some 3 billion yen to a Saudi businessman, informed sources said Wednesday.

The plan was withdrawn due to opposition from Nissan officials, according to the sources.

The Tokyo District Public Prosecutors Office is investigating why Ghosn tried to provide loans to the businessman, Khaled Al-Juffali.

The current detention period for Ghosn, 64, who faces charges of aggravated breach of trust mainly for the misuse of Nissan funds, is set to expire Friday.

Ghosn transferred financial derivatives contracts with appraisal losses worth 1.85 billion yen to Nissan in October 2008.

[Copyright The Jiji Press, Ltd.]

Jiji Press