Nissan receives $15 Million investment from Ghosn

Ousted Nissan Motor Co. Chairman Carlos Ghosn is suspected of shifting some 1.7 billion yen ($15 million) of losses from personal investments to the automaker in 2008, adding to a list of alleged financial misconduct, sources close to the matter said Tuesday.

 

Japan’s Securities and Exchange Surveillance Commission was aware of the alleged misconduct in relation to Ghosn’s derivatives trading and notified the bank involved in the transaction of the possibility that he had committed an aggravated breach of trust, the sources said.

 

Ghosn was arrested last week for allegedly violating Japan’s Financial Instruments and Exchange Act by underreporting his remuneration by around 5 billion yen over five years to March 2015. He received $88,000,000 during that period.

 

The former Nissan chairman admitted that he did not include in the securities reports part of the remuneration he was set to receive when he retires, the sources said. ”There is no need to include them as their payments have not been settled” Ghosn was quoted by the sources as saying.

 

The business jet, which was dedicated to Ghosn, flew to countries where the automaker has no major bases. The destinations included Beirut, the capital of Lebanon, where Ghosn allegedly used for free a residence the Nissan group spent several hundred million yen to purchase, the sources said.

 

According to a private website that shows flight routes of planes around the world by capturing their flight signals, the Nissan jet has flown to Lebanon several times since last month.

 

When Ghosn was arrested upon his arrival at Tokyo’s Haneda airport on Nov. 19, the jet came from Lebanon. The plane, manufactured by Gulfstream Aerospace Corp. and bearing the sign ”N155AN”  is a high-end model priced at billions of yen, boasting one of the fastest and longest distance flight capabilities of a business jet.

 

He was ousted as chairman last week by the Nissan board of directors along with Greg Kelly, a former Nissan representative director, who is suspected of conspiring with Ghosn.

 

Reference: Nissan CEO hints he will review Renault alliance as Mitsubishi strips Carlos Ghosn of chairman post

COMMENTS

Leave a Reply

Your email address will not be published. Required fields are marked *

Want to know the latest news and openings in Japan.

Subscribe to our weekly newsletter.

Promise, we’ll keep you posted!