A Tokyo court on Tuesday rejected another bail request filed by former Nissan Motors chairman Carlo Ghosn, despite assuring prosecutors that he would wear a monitoring device and stay in Japan.

This is the second time Ghosn's defence team had applied for the plea. The 64-year-old business magnate had pleaded to wear the electronic tag, give up his passport and pay for security guards approved by the prosecutors to secure his release, NHK reported.

In his first appeal last year, Ghosn said that he would stay in France and would travel to Tokyo for hearing. However, his request was reportedly denied to protect the investigation from the risk of evidence tampering.

On January 11, Ghosn was indicted for the second time since he was arrested on November 19 last year on charges of financial misconduct.

The Brazilian-Lebanese businessman has been charged by Japanese prosecutors for temporarily transferring personal investment losses to Nissan and understating his income between 2010 and 2018.

Last December, Ghosn was re-arrested after new allegations surfaced on aggravated breach of trust in which the Brazilian-French businessman made Nissan shoulder $16.6 million in personal investment losses.

Ghosn is chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, the automotive collaboration of France's Groupe Renault, Japan's Nissan Motors and Mitsubishi Motors. He is also the Chairman and CEO of Renault.

The Renault boss was fired as the chairman of both Nissan and Mitsubishi Motors following his arrest.

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