Nissan ex-chairman formally charged in financial misconduct case

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IANS | 10 Dec, 2018
Tokyo prosecutors on Monday indicted former Nissan Motor chairman Carlos Ghosn for under-reporting his earnings over five years leading to March 2015 and issued an arrest warrant for additional charges.

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

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.

Nissan was also indicted in the case, with documents saying that the company had also committed irregularities in its financial statements.

Former Nissan Representative Director Greg Kelly was also indicted for conspiring with Ghosn and has been re-arrested.

According to one of the documents, 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.