Nissan Chairman Carlos Ghosn Arrested For Financial Violations

[Akash1886]

​

Nissan Chairman Carlos Ghosn, who became one of the auto industry’s most powerful executives by engineering a turnaround at the Japanese manufacturer, was arrested on Monday and will be fired for allegedly underreporting his income and misusing company funds, the automaker said.

Mr Ghosn is of French, Brazilian and Lebanese background and lives in both France and Japan. Nissan said Mr Ghosn, 64, and another senior executive, Greg Kelly, were accused of offences involving millions of dollars that were discovered during a months-long investigation set off by a whistleblower. Mr Kelly was also arrested.

Mr Saikawa said three major types of misconduct were found: underreporting income to financial authorities, using investment funds for personal gain and illicit use of company expenses.

Link

Regards

Akash

 

[vikyjoshi]

thats a sad news.

Feel like giving benefit of doubt to Carlos G. I mean cannot believe why would he of all the people do it?

 

[Akash1886]

thats a sad news.

Indeed but the ruling came out after a detailed investigation. All things aside, the future of Renault & Nissan hangs on a thin cord now. The Nissan Kicks is to be launched in Indian market soon and with this news coming in I have serious doubts as to how will the brand cope with questions? When the brand's top man himself is accused of such a severe unethical conduct, the brands image will surely take a beating pan-operative markets. Renault already is unable to figure out their success recipe w.r.t the products, Nissan on the other hand hasn't had anything substantial to talk about as well. I am worried about their future existence specially in Indian market.

Regards

Akash