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  HOME | Business & Economy (Click here for more)

Ghosn Faces New Charges from Tokyo Prosecutors

TOKYO – Carlos Ghosn was hit with new charges by Tokyo prosecutors on Friday who accused him of misreporting his compensation through 2018 and abusing his position at Nissan Motor Co. for personal gain, a crime called breach of trust in Japan.

Prosecutors accused the former Nissan chairman of misreporting his compensation by tens of millions of dollars during a three-year period ended March 2018.

The latest indictment means Ghosn is eligible for bail. Ghosn’s lawyer said he would file for his release on Friday.

Ghosn’s alleged co-conspirator, Nissan director Greg Kelly, and Nissan Motor were also indicted for the alleged misreporting.

Ghosn, Kelly and Nissan were previously indicted Dec. 10 on similar allegations related to financial statements filed over a five-year period ended March 2015.

Nissan has expressed regret over the case but hasn’t said whether it will contest the allegations. Ghosn has called the charges against him “baseless” and Kelly has said he is innocent and looks forward to defending himself in court.

Kelly is currently out on bail.

Ghosn faces an additional charge of breach of trust related to a series of transactions with Saudi Arabian businessman Khaled Al Juffali.

Tokyo prosecutors have said they believe Ghosn arranged for Nissan to make $14.7 million in inappropriate payments to Juffali. Prosecutors also believe Ghosn caused harm to Nissan when he shifted ownership of a personal derivatives contract to Nissan in late 2008.

Ghosn has said the payments to Juffali were for services rendered to Nissan and that no losses were suffered by Nissan while it held the contract. Juffali has said in a statement that received payments were for legitimate business purposes.

 

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