Economy

nitpicker

(7,153 posts) Mon Dec 10, 2018, 07:48 AM Dec 2018

Ex-Nissan boss Carlos Ghosn charged with financial misconduct

https://www.dw.com/en/ex-nissan-boss-carlos-ghosn-charged-with-financial-misconduct/a-46661029

Ex-Nissan boss Carlos Ghosn charged with financial misconduct

Date 10.12.2018

Tokyo prosecutors on Monday indicted former Nissan chairman Carlos Ghosn on financial misconduct charges for underreporting his income by 5 billion yen ($44 million) from 2010-2015. Ghosn, who was arrested on November 19 , will also face investigation on fresh allegations that he understated his salary by 4 billion yen for an additional three business years through March.

With his initial detention scheduled to end on Monday, the new allegations will allow prosecutors to keep him in custody in Tokyo and conduct further interrogations, according to Kyodo news agency.

Nissan Motor Co. and former Representative Director Greg Kelly also were charged. Kelly, who was arrested in November, has been accused of conspiring with Ghosn, while Nissan faces allegations of making false statements in annual reports.
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In Japan, a company can be charged with wrongdoing.
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Ex-Nissan boss Carlos Ghosn charged with financial misconduct (Original Post) nitpicker Dec 2018 OP

From The Guardian nitpicker Dec 2018 #1

nitpicker

(7,153 posts)

1. From The Guardian

Reply to nitpicker (Original post)

Mon Dec 10, 2018, 07:51 AM

Dec 2018

https://www.theguardian.com/business/2018/dec/10/nissan-carlos-ghosn-charged-financial-misconduct

(snip)
The scandal took a further twist on Monday when prosecutors also indicted Nissan for filing false financial statements, in what some described as a shift in focus towards Hiroto Saikawa, the firm’s chief executive and an outspoken critic of Ghosn’s management methods.

Nissan will find it difficult to avoid blame for the scandal given the possibility that other executives had knowledge of Ghosn’s misconduct or that the firm’s internal controls failed to spot the misreported income.

“Normally, if it’s falsifying the financial filings, the company as well as the perpetrator is charged. That’s not surprising. It’s to be expected,” said a lawyer and former prosecutor, Nobuo Gohara. “Now suddenly the issue of CEO Saikawa becomes bigger. It becomes difficult to overlook Saikawa’s role in all of this. That becomes the main focus now.”
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