This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2018/12/10/business/nissan-carlos-ghosn-indicted.html
The article has changed 7 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Carlos Ghosn, Ex-Nissan Chief, and Nissan Are Charged With Misstating His Pay | |
| (about 3 hours later) | |
| TOKYO — Prosecutors in Japan on Monday indicted Carlos Ghosn, the former chairman of Nissan Motor, and the auto company, accusing them of violating financial laws by underreporting his compensation. | TOKYO — Prosecutors in Japan on Monday indicted Carlos Ghosn, the former chairman of Nissan Motor, and the auto company, accusing them of violating financial laws by underreporting his compensation. |
| The indictment came three weeks after the Japanese authorities arrested Mr. Ghosn, 64, once one of the auto industry’s best-known and most respected executives. The allegations have shaken an auto empire that includes Nissan and Mitsubishi Motors in Japan and Renault of France. | The indictment came three weeks after the Japanese authorities arrested Mr. Ghosn, 64, once one of the auto industry’s best-known and most respected executives. The allegations have shaken an auto empire that includes Nissan and Mitsubishi Motors in Japan and Renault of France. |
| Motonari Otsuru, a lawyer for Mr. Ghosn, couldn’t immediately be reached for comment. | Motonari Otsuru, a lawyer for Mr. Ghosn, couldn’t immediately be reached for comment. |
| In a statement, Nissan said it will strengthen its compliance efforts. “Nissan takes this situation extremely seriously,” it said. “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.” | In a statement, Nissan said it will strengthen its compliance efforts. “Nissan takes this situation extremely seriously,” it said. “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.” |
| Prosecutors also indicted Greg Kelly, a onetime Nissan human resources manager and a member of the company’s board. Mr. Kelly has denied wrongdoing. | Prosecutors also indicted Greg Kelly, a onetime Nissan human resources manager and a member of the company’s board. Mr. Kelly has denied wrongdoing. |
| Nissan has said it had uncovered misconduct by Mr. Ghosn that included underreporting his compensation and using company funds for personal expenses. In a news conference held the night of Mr. Ghosn’s arrest on Nov. 19, Hiroto Saikawa, Nissan’s chief executive, said that Mr. Kelly “has been determined to be the mastermind of this matter, together with Carlos Ghosn.” | Nissan has said it had uncovered misconduct by Mr. Ghosn that included underreporting his compensation and using company funds for personal expenses. In a news conference held the night of Mr. Ghosn’s arrest on Nov. 19, Hiroto Saikawa, Nissan’s chief executive, said that Mr. Kelly “has been determined to be the mastermind of this matter, together with Carlos Ghosn.” |
| Prosecutors in Tokyo have said they are investigating whether Mr. Ghosn hid tens of millions of dollars’ worth of compensation from 2011 to 2015. They have said he understated his true earnings by half, or more than $44 million, in reports to the Japanese financial authorities. | Prosecutors in Tokyo have said they are investigating whether Mr. Ghosn hid tens of millions of dollars’ worth of compensation from 2011 to 2015. They have said he understated his true earnings by half, or more than $44 million, in reports to the Japanese financial authorities. |
| Nissan removed Mr. Ghosn as chairman shortly after his arrest and removed Mr. Kelly as executive director. Mr. Ghosn was also removed from a similar position at Mitsubishi Motors. He remains chairman at Renault, but the French company has appointed Thierry Bolloré, its chief operating officer, to assume Mr. Ghosn’s day-to-day responsibilities. | Nissan removed Mr. Ghosn as chairman shortly after his arrest and removed Mr. Kelly as executive director. Mr. Ghosn was also removed from a similar position at Mitsubishi Motors. He remains chairman at Renault, but the French company has appointed Thierry Bolloré, its chief operating officer, to assume Mr. Ghosn’s day-to-day responsibilities. |