Ghosn received 8m euro in 'improper' payments: Nissan

phys.org | 1/18/2019 | Staff
TimHyuga (Posted by) Level 3
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Former Nissan boss Carlos Ghosn received nearly eight million euros in "improper payments" from a Netherlands-based joint venture, the Japanese car giant alleged Friday, threatening to sue to recover the funds.

Nissan said Ghosn entered into a personal employment contract with Nissan-Mitsubishi B.V. (NMBV), a company formed "with the mission of exploring and promoting synergies within the Nissan-Mitsubishi Motors partnership."

Contract - Total - Euros - Tax - Compensation

"Under that contract, he received a total of 7,822,206.12 euros (including tax) in compensation and other payments of NMBV funds," Nissan said, citing an ongoing investigation into alleged wrongdoing by Ghosn.

The firm said the contract was signed without consultation with current Nissan CEO Hiroto Saikawa or Mitsubishi Motors CEO Osamu Masuko.

Nissan - Payments - Ghosn - NMBV - Result

"Nissan views the payments Ghosn received from NMBV to be the result of misconduct and will consider measures to recover from Ghosn the full sum," the firm said in a statement.

Since his out-of-the-blue arrest on November 19, Ghosn has been kept in a Tokyo detention centre and has made only one public appearance in court when he passionately rejected the accusations against him.

Ghosn - Charges

Ghosn faces three formal charges.

First, he is accused of under-declaring his income by five billion yen ($46 million) between 2010 and 2015 in official documents to shareholders, apparently to fend off criticism he was overpaid.

Practice - Years - Pay - Yen

Second, he stands accused of continuing this practice for three more years, understating his pay by a further four billion yen.

A third, more complex, charge relates to allegations he sought to transfer personal investment losses to the firm and paid a Saudi intermediary from company funds to stump up collateral for him.

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The 64-year-old auto tycoon rejects all the charges, arguing...
(Excerpt) Read more at: phys.org
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