[Mister Dave]

Nissan's Ghosn Arrested in Japan, Threatening Three-Way Alliance

The cult of Carlos Ghosn collapsed Monday as the boss of Renault SA and Nissan Motor Co. was arrested in Tokyo for alleged financial crimes, likely ending his tenure at the Japanese automaker.

Ghosn, who’s widely credited with saving Nissan from failure and bringing it together with Renault and Mitsubishi Motors Corp., was detained Monday over a suspected breach of Japanese financial laws, according to Nissan Chief Executive Officer Hiroto Saikawa. Ghosn and Director Greg Kelly have been under investigation at Nissan for several months after a whistleblower complaint, and the board is set to meet Thursday to remove them both.

Oh snap!

More at Bloomberg.

 

[El Dobro]

I guess he'll be getting a permanent Leaf of absence.

 

[Steverino]

He was red hot when charged and had no active cooling options.

 

[El Dobro]

Who Stole The Electric Car's Money.

 

[scottf200]

Autoline has some insight: 5:08 Ghosn’s Arrest Is Highly Suspicious
https://www.youtube.com/watch?v=J7OJQviOEUU&t=308s

 

[Ladogaboy]

Autoline has some insight: 5:08 Ghosn’s Arrest Is Highly Suspicious
https://www.youtube.com/watch?v=J7OJQviOEUU&t=308s

Based on what I've read, he's reaching.

Another individual who was claimed to be involved was Greg Kelly, a director of human resources. Apparently, when you have someone in HR covering your trail, it's not that difficult to mask your actual income.

 

[JuneBug]

Based on what I've read, he's reaching.

Another individual who was claimed to be involved was Greg Kelly, a director of human resources. Apparently, when you have someone in HR covering your trail, it's not that difficult to mask your actual income.

Yes, apparently he was under-reporting his personal income by HALF. For more than 5 years!

 

[scottf200]

Autoline has some insight: 5:08 Ghosn’s Arrest Is Highly Suspicious
https://www.youtube.com/watch?v=J7OJQviOEUU&t=308s

Related Bloomberg article:
Title: Nissan’s Drama Looks a Lot Like a Palace Coup
https://www.bloomberg.com/opinion/articles/2018-11-19/nissan-s-drama-looks-a-lot-like-a-palace-coup

As my colleague Chris Bryant argued earlier, the alliance has become a lopsided beast — essentially a Japanese company with a Dutch head officeand an outsized stake in the hands of the French government. Renault’s 43 percent stake in Nissan typically accounts for the largest share of its equity-accounted earnings. From the perspective of Japan, the French company can resemble a parasite attempting to control its intrinsically stronger host.

 

[scottf200]

https://cleantechnica.com/2018/11/21/carlos-ghosn-greed-stupidity-or-a-coup/

This sounds like he did not file correctly what is known in the USA as SEC Form 4, “Statement of changes in beneficial ownership of securities,” from 2010 to 2015.

The company assets in question appear to be residences Nissan acquired for him in Brazil and Lebanon.
Filing these kinds of forms is seldom done by the executive himself. It is delegated to the financial staff and an attorney is appointed to supervise it. And how sleeping in a residence the company has put at your disposal is a misuse of company assets is not really clear to me.The first misconduct happened over a clearly defined stretch of time. The first question to ask is, what happened in 2010 when it started?

That one is very clear. The law on disclosures to the stock exchange about executive compensation changed. Nissan had two scandals the last year about non-compliance with formal regulations. First, it was safety inspections not being performed by certified persons, and second was not updating emission testing to new regulations for many years.This sounds more like another failure of the Nissan compliance oversight than an executive enriching himself. There are no accusations of overpaying himself or not paying the taxes due on his remunerations.Misuse of company assets is more mystifying, especially with the added explanation that Ghosn’s other two jobs (CEO of both Renault and the Renault-Nissan Alliance) made oversight difficult. Was he flying in the Nissan plane to an Alliance meeting or sleeping in a Nissan bed while visiting a Renault plant?