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  HOME | Business & Economy (Click here for more)

Ghosn, Nissan Formally Charged in Financial Misconduct Case

TOKYO – Tokyo prosecutors indicted the former chairman of Nissan Motor on Monday for under-reporting his earnings over five years leading to March 2015 and issued an arrest warrant for additional charges.

Nissan was also indicted in the case, which has shocked the global auto industry.

Carlos Ghosn, 64, was arrested in Tokyo on Nov. 19 for allegedly failing to report 5 billion yen ($44 million) of his salary to the authorities.

Ghosn – whose detention period was to end on Monday – has also been issued with an arrest warrant for further charges, according to the prosecutors’ documents.

The indictment documents said Nissan had also committed irregularities in its financial statements.

Ex-Nissan representative director Greg Kelly was also indicted for conspiring with Ghosn and has been re-arrested, state broadcaster NHK said.

According to one of the documents that the EFE has access to, between 2011 and 2015, Ghosn reported half of what was agreed with Nissan. However, discrepancies over the three subsequent years are much greater.

Ghosn remains the chairman and CEO of Renault, which has an alliance with Nissan. He was removed from the Mitsubishi chairman post, the third company in the two-decade-long alliance.

According to the reports, the payment amount not declared by Ghosn was part of compensation he was to receive after leaving the company.

 

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