What misconduct is Nissan’s Ghosn accused of, and how did it come to light?
Japan was shocked by news that Nissan Motor Co Chairman Carlos Ghosn, who was widely respected for rescuing the car maker from near bankruptcy, was arrested on Monday for alleged financial misconduct.
Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday.
What is Ghosn accused of?
Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange.
Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn’t elaborate as the cases are being investigated by prosecutors, who have declined to comment.
Prosecutors said that Ghosn and Kelly conspired to understate Ghosn’s compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million).
