Nissan and former boss indicted in pay scandal
Print Edition
Tokyo prosecutors indicted ousted Nissan Motor chairman Carlos Ghosn for under-reporting his income and also officially charged the automaker, making the firm culpable for the financial misconduct scandal that has shocked the industry.
Ghosn was arrested on November 19 on suspicion of conspiring to understate his compensation by about half the actual 10 billion yen (US$88 million) over five years from 2010.
He has been held in a Tokyo jail since then for questioning, but had not been officially charged. Prosecutors re-arrested him yesterday on fresh allegations of understating his income for three more years through March 2018.
Nissan, which fired Ghosn as chairman days after his arrest, has said the misconduct was masterminded by the once-celebrated executive with the help of former Representative Director Greg Kelly, who was also indicted for the first time yesterday.
Ghosn and Kelly have not made any statement through their lawyers, but Japanese media reported that they have denied the allegations. Nissan, indicted for filing false financial statements, said it takes the charge seriously.
“Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret,” it said, adding it will correct past reports to include accurate figures.
Japan’s Securities and Exchange Surveillance Commission, said the crime carried a fine of up to 700 million yen.
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