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Nissan, Carlos Ghosn fined by US authorities for hiding pay
News
23rd Sep 2019
1 min read

Nissan, Carlos Ghosn fined by US authorities for hiding pay

They might have come to the fore in 2018, but the US SEC says Nissan's financial troubles began in 2004 when it granted Carlos Ghosn, its then-CEO, the authority to set executive compensation – including his own. The commission believes between 2009 and his arrest in 2018, Ghosn "with substantial assistance from [director Greg] Kelly and subordinates at Nissan" hid US$90 million ($133 million) in pay from official filings, and increase Ghosn's retirement bonus by US$50 million ($74 million).
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Derek Fung
Carlos Ghosn says his arrest was part of a 'conspiracy'
News
9th Apr 2019
2 min read

Carlos Ghosn says his arrest was part of a 'conspiracy'

Overnight, Carlos Ghosn, the former CEO and chairman of Renault and Nissan, published a seven-and-a-half-minute video stating his innocence, and claiming he was arrested as part of a "conspiracy". The video was recorded prior to Ghosn's re-arrest last week, when he was out on bail. Although Ghosn claims he is "innocent of all the charges that have been brought against me", the former Nissan CEO didn't provide any evidence to substantiate his assertion.
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Derek Fung
Carlos Ghosn granted bail
News
6th Mar 2019
2 min read

Carlos Ghosn granted bail

Carlos Ghosn has walked out of jail, 108 days after being arrested disembarking a private jet operated by Nissan. At 4.30pm yesterday, the former CEO emerged from the Tokyo Detention Centre surrounded by guards. In an effort to evade the media, Ghosn left the jail wearing a blue cap, sunglasses, a surgical mask, and a worker's vest with orange safety stripes. He was ushered into a small Suzuki, and driven to an undisclosed location.
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Derek Fung
Carlos Ghosn makes first court appearance since arrest
News
8th Jan 2019
3 min read

Carlos Ghosn makes first court appearance since arrest

Carlos Ghosn, the former CEO of Nissan, has appeared in court for the first time after his arrest in Japan. Ghosn was arrested on November 19, 2018 after he was accused by Nissan of a number of misdemeanours during his time at the automaker. He has been formally charged for under reporting his income by over $100 million, shifting his currency trading losses to his employer, and misusing company funds.
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Derek Fung
Ghosn may have hidden $95 million in pay from Nissan - reports
News
6th Dec 2018
2 min read

Ghosn may have hidden $95 million in pay from Nissan - reports

When Carlos Ghosn was arrested a few weeks ago, he was accused by Nissan of under-reporting his income in official stock exchange filings. Now details are beginning to emerge of just how he managed it. Various reports have suggested Ghosn hid between ¥5 and ¥9.5 billion ($60 to $110 million), with Bloomberg estimating a figure around $95 million.
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Derek Fung