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Ex-Nissan exec on trial as Ghosn saga drags on
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The financial misconduct trial of former Nissan executive Greg Kelly began yesterday with Kelly saying he committed no crimes and was only trying to keep his boss Carlos Ghosn from leaving.
The charges being heard at Tokyo District Court center around Kelly鈥檚 alleged role in failing to report to Japanese authorities the future compensation of Ghosn, who led Nissan Motor Co for two decades.
Prosecutors outlined allegations of what they said was a complex and clandestine scheme to pay Ghosn more than the amount the company had officially reported. Kelly is charged with helping Ghosn hide 9.3 billion yen (US$88 million) in compensation between the year 2011-2018 through deferred payments.
According to CNN, Japan introduced new compensation rules in 2010 which required high-earning executives to report their pay.
Kelly denied the allegations and said everything was done to keep Ghosn, whom he called an 鈥渆xtraordinary executive,鈥 at Nissan. 鈥淭his was all in the best interests of Nissan,鈥 he said.
鈥淚 deny the allegations. I was not involved in a criminal conspiracy,鈥 Kelly told the court. 鈥淭he evidence will show that I did not break the law.鈥
His trial could take about a year. If found guilty Kelly could face up to 10 years in prison and a 10 million yen fine.
The proceedings will include evidence and testimony from prominent company executives, including a former chief executive, Hiroto Saikawa, that could shine a light on the inner workings of the Japanese automaker as it tries to rein in losses and revamp its vehicle line-up after ousting Ghosn.
Kelly鈥檚 head defense lawyer Yoichi Kitamura said little apart from: 鈥淢y client is not guilty.鈥
Nissan, which is on trial alongside Kelly, says they did, and pleaded guilty.
In a statement issued separately, it said it takes its indictment 鈥渧ery seriously,鈥 adding there was 鈥渟ubstantial and convincing evidence鈥 of misconduct by Kelly and Ghosn.
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