Ghosn arrested for underreporting income

Nov 20, 2018 | News On Japan

Nov 20, 2018 (NHK) - Tokyo prosecutors on Monday arrested Nissan Motor Chairman Carlos Ghosn on suspicion of underreporting his earnings, along with another executive.

The prosecutors say Ghosn reported that his executive compensation for the 5 years until March 2015 was less than 5 billion yen, or about 44 million dollars. They say the actual amount was nearly 10 billion yen.

Nissan Motor revealed on the same day that Ghosn's misconduct had been happening for years. The company noted that it uncovered other serious wrongdoing, such as personal use of company assets.

Nissan also said Representative Director Greg Kelly, who was also arrested, had major involvement in the acts.

Investigators began searching Nissan's headquarters in Yokohama near Tokyo on Monday afternoon.

Source: ANNnewsCH

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