Wednesday 26 June 2019

Former Nissan chief 'charged with under reporting pay' in Japan

Carlos Ghosn
Carlos Ghosn
Independent.ie Business Desk

Independent.ie Business Desk

Former Nissan chairman Carlos Ghosn has been charged by prosecutors in Tokyo with under-reporting his income, according to Japanese media reports.

Prosecutors would not immediately confirm the reports by Kyodo News and other media. The reports said another executive and Nissan Motor Company had also been charged.

The prosecutors say Ghosn is suspected of under-reporting his income by 5 billion yen (€39m) over five years. In Japan, a company can be charged with wrongdoing.

Some kind of action by the prosecutors had been expected as the custody period allowed for the allegations disclosed so far ends on Monday.

Nissan executive Greg Kelly, 62, is suspected of having collaborated with Ghosn.

Kelly's lawyer in the US says he is asserting his innocence, while Ghosn, 64, has not commented.

Ghosn was sent to Nissan by its partner Renault SA of France in 1999. He led a dramatic turnaround the near-bankrupt Japanese automaker.

But Ghosn's star-level pay has drawn attention, since executives in Japan tend to be paid far less than their international counterparts.

Only Ghosn's lawyers and embassy officials from Lebanon, France and Brazil, where he has citizenship, have been allowed to visit him.

Press Association

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