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Posts Tagged ‘Japanese investigators extend Ghosn detention’

Ghosn Scandal Threatens to Fracture Renault-Nissan-Mitsubishi Alliance

Japanese want Renault to examine evidence against jailed executive.

by Paul A. Eisenstein on Dec.18, 2018

Carlos Ghosn has been ousted at Nissan and Mitsubishi, but Renault has only replaced him temporarily pending the outcome of his legal proceedings.

Tensions are mounting between the French and Japanese sides of the Renault-Nissan-Mitsubishi Alliance, according to various insiders and news reports, in the wake of the arrest of Carlos Ghosn, the man who put the alliance together two decades ago.

While the Brazilian-born executive has been ousted from top management roles by both Nissan and Mitsubishi, Renault has refused to follow suit while Ghosn awaits trial on allegations of financial corruption. He was charged by Japanese prosecutors earlier this month with concealing income and misusing corporate funds, but some sources believe the case really centers around growing concerns by Nissan about its relationship with Renault.

Global News!

The second-largest of the Japanese automakers is pressing its French partner to take a closer look at the evidence it claims to have gathered as part of an investigation triggered earlier this year by a whistleblower. The Reuters news service is reporting that Nissan CEO Hiroto Saikawa hopes to meet with his Renault counterpart, Thierry Bollore, in Amsterdam next week. (more…)

Ghosn May Ring in New Year in Japanese Custody

Former Nissan CEO denies any wrongdoing.

by Michael Strong on Dec.04, 2018

Ousted Nissan Chairman Carlos Ghosn may ring in the new year in Japanese custody.

Ousted Nissan Chairman Carlos Ghosn may be arrested again by Japanese authorities as part of their ongoing investigation into charges of alleged financial misconduct by the former company executive and a colleague.

Ghosn was initially expected to be released on Dec. 10, after having his release delayed two times already. Japanese law allows investigators to arrest a suspect again if new criminal charges are filed, which is exactly what is expected to happen with Ghosn.

Global News!

He could be detained until the end of the year. Japanese prosecutors are expected to file charges that Ghosn’s total compensation for 2016 and 2017 exceeded the cap set by the company’s shareholders, according to an Automotive News report. (more…)