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Nissan's Ghosn crisis

Former Nissan exec Kelly granted bail by Tokyo court

Bail set at $635,600, but prosecutors appeal court's decision

Media crews are seen on stepladders in front of the Tokyo Detention Center, where former Nissan executive Greg Kelly, right, is being held, in Tokyo on Dec. 25.

TOKYO -- The Tokyo District Court on Tuesday approved a lawyer's request to set bail for Greg Kelly, Nissan Motor's former representative director who was arrested more than a month ago along with Nissan's former Chairman Carlos Ghosn.

Bail was set at 70 million yen ($635,600). But prosecutors proceeded with a quasi appeal later in the day. Kelly's detention can be extended if the appeal is approved.

Kelly and Ghosn were arrested on Nov. 19 over suspected financial misconduct.

On Dec. 10, prosecutors indicted the two on allegations of understating roughly 5 billion yen ($45 million) of income in Nissan's annual reports for five fiscal years through March 2015. That same day the pair was rearrested and given another 10 days in detention on suspicion of failing to report another 4.2 billion yen for the three fiscal years through this past March.

Late last week, the court denied prosecutors' request to extend Ghosn's and Kelly's detentions, and Kelly's lawyer applied for bail.

A day later, on Friday, Ghosn, who was also expected to apply for bail, was rearrested on suspicions of aggravated breach of trust. The charge relates to losses incurred by his personal asset management company that were allegedly passed on to Nissan.

Ghosn's current detention lasts until Jan. 1.

According to sources familiar with the matter, Kelly, who has a chronic neck injury, had planned to get surgery in the U.S. earlier this month. If released on bail, Kelly intends to visit a Japanese hospital for an examination.

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