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Ex-chief Ghosn and Nissan are charged with misstating his pay

Ex-chief Ghosn and Nissan are charged with misstating his pay

Ex-chief Ghosn and Nissan are charged with misstating his pay
Prosecutors in Japan indicted Carlos Ghosn and the auto company itself


Mr. Ghosn, once among the auto industry’s most respected executives, was arrested three weeks ago by the Japanese authorities. The allegations have upended a carmaking empire that includes Nissan and Mitsubishi Motors in Japan and Renault in France.

In addition to the formal charges announced Monday, which cover allegations related to actions from 2011 to 2015, the authorities rearrested Mr. Ghosn on similar charges stemming from a subsequent period. Mr. Ghosn, 64, has been held in detention in Tokyo since his arrest on Nov. 19.

Motonari Otsuru, a lawyer for Mr. Ghosn, could not immediately be reached for comment.


Prosecutors also indicted Greg Kelly, a former Nissan human resources manager and a member of the company’s board. Mr. Kelly, through his lawyer, Yoichi Kitamura, has denied wrongdoing. Mr. Kelly, like Mr. Ghosn, was rearrested Monday, on allegations that he helped Mr. Ghosn underreport his compensation.

Nissan has said it uncovered misconduct by Mr. Ghosn that included underreporting his compensation and using company funds for personal expenses. In a news conference held the night Mr. Ghosn and Mr. Kelly were initially arrested, Hiroto Saikawa, Nissan’s chief executive, said Mr. Kelly “has been determined to be the mastermind of this matter, together with Carlos Ghosn.”

According to the indictment, Mr. Ghosn and Mr. Kelly understated Mr. Ghosn’s earnings from 2011 to 2015 by half in securities filings: 4.99 billion yen ($44.3 million) compared with 9.86 billion yen ($88.4 million), including bonuses.

Car News

via GM Inside News Forum

December 11, 2018 at 06:36AM


Car News



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