Nissan\u2019s former chairman Carlos Ghosn under-reported his income by a total of $71 million much more than initially suspected Japanese media reported Friday.<\/p>\n
The Brazil-born tycoon is now reportedly set to face a new charge from prosecutors after he was sacked as Nissan chairman Thursday to top a spectacular fall from grace for the once-revered boss whose fall has stunned the business world.<\/p>\n
Prosecutors arrested Ghosn on Monday, accusing him and fellow executive Greg Kelly of understating the former chairman\u2019s income by around five billion yen between June 2011 and June 2015.<\/p>\n
Prosecutors are now planing to re-arrest him on charges of understating his income by a total of eight billion yen ($71 million) since June 2011, the Asahi said.<\/p>\n
Under Japanese law, suspects in jail can face additional arrest warrants, which can impose heavier charges.<\/p>\n
Ghosn is also suspected of failing to report a profit of four billion yen through stock appreciation rights — a method for firms to give management a bonus on strong earnings, the Nikkei said.<\/p>\n
Separately, the Kyodo news agency has reported that Nissan had paid $100,000 a year since 2002 to Ghosn\u2019s sister who had no record of doing advisory work for the group.<\/p>\n
Deputy chief prosecutor Shin Kukimoto said the Ghosn case is \u201cone of the most serious types of crime\u201d under Japan\u2019s Financial Instruments Act, and Ghosn could face a 10-year prison sentence.<\/p>\n
His ouster is an astonishing turnaround for a titan of the auto sector who revived the Japanese brand and forged an alliance with France\u2019s Renault as well as domestic rival Mitsubishi Motors.<\/p>\n
The French and Japanese finance ministers reiterated their \u201cstrong support\u201d for the alliance at a meeting in Paris on Thursday.<\/p>\n
In a joint statement, Bruno Le Maire and Hiroshige Seko said they both wanted \u201cto maintain this winning cooperation\u201d.<\/p>\n
Asked about the fate of the alliance, Seko told reporters in Paris: \u201cIt is important for people concerned to deal with it after they agree and fully understand.\u201d<\/p>\n
Renault\u2019s board has so far stood by Ghosn naming his deputy Thierry Bollore to handle day-to-day business.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nissan\u2019s former chairman Carlos Ghosn under-reported his income by a total of $71 million much more than initially suspected Japanese media reported Friday. The Brazil-born tycoon is now reportedly set to face a new charge from prosecutors after he was sacked as Nissan chairman Thursday to top a spectacular fall from grace for the once-revered […]<\/p>\n","protected":false},"author":1,"featured_media":48081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-48170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=48170"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48170\/revisions"}],"predecessor-version":[{"id":48172,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48170\/revisions\/48172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/48081"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=48170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=48170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=48170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}