Ghosn indicted, gets new arrest warrant

Dec 11, 2018 | News On Japan

Dec 11, 2018 (NHK) - Tokyo prosecutors have indicted former Nissan Motor chairman Carlos Ghosn for understating his past compensation by tens of millions of dollars. They have also served an additional arrest warrant on him over similar allegations relating to his pay in the last 3 years.

Ghosn has been in custody since November 19th. Prosecutors believe that Ghosn understated his executive compensation in Nissan's securities reports by about 5 billion yen, or 44 million dollars, over a 5-year period up to fiscal 2014.

Former Nissan representative director Greg Kelly was also indicted for conspiring with Ghosn and has been served an additional arrest warrant as well, over the latest findings.

The prosecutors also indicted Nissan Motor itself on the same day as a corporate involved in the case.

They believe Ghosn had already made arrangements so that after he retired, he could receive the difference between the amounts that were documented and those that had actually been paid out.

Sources close to the matter say some of them were signed by Ghosn.

They suspect he tried to avoid possible criticism of the large sum of compensation paid to him.

Meanwhile, Japan's Securities and Exchange Surveillance Commission filed a criminal complaint against Ghosn, Kelly and Nissan Motor as a corporate for understating Ghosn's compensation.

Sources say the pair denies any wrongdoing. They say post-retirement payouts had not been formally decided.

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