Former Nissan chairman Carlos Ghosn will be detained at least through Jan. 11, the Tokyo District Court said Monday, as the once revered auto industry figure faces allegations that have marked a stunning downfall.

Ghosn, who led Nissan Motor Co. for two decades and helped save the Japanese automaker from near bankruptcy, was arrested Nov. 19 on suspicion of falsifying financial reports. He also faces a breach of trust allegation, for which his detention had been approved previously through Jan. 1.

The Tokyo District Court said in a statement that it had approved prosecutors' request for a 10-day extension.

Ghosn has been charged in the first set of allegations, about under-reporting Ghosn's pay by about 5 billion yen ($44 million) in 2011-2015.

Those close to Ghosn and his family say he is asserting his innocence as the alleged underreported amount of money was never really decided or paid, and Nissan never suffered any monetary losses from the alleged breach of trust.

It is unclear when Ghosn may be released on bail. Tokyo prosecutors consider Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, a flight risk.

In Japan, formal charges can mean a suspect will get detained for months, sometimes until the trial starts, because of fears of tampered evidence.