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Nissan Chairman Ghosn Arrested on Charges of Tax Evasion

2018-12-03 14:28 Monday


On November 19, Japan's Asahi Shimbun reported that Carlos Ghosn, the chairman of Nissan Motor Co., Ltd. (Nissan), was arrested by Japanese authorities. Carlos is under investigation by Japanese prosecutors for allegedly evading personal income tax, falsifying financial statements and embezzling public funds.

Carlos Ghosn

On the same day, Nissan announced that it was removing Mr. Ghosn from all positions; he had already resigned as CEO of Nissan.

Through a months-long internal investigation, Nissan found that Mr. Ghosn had falsified financial statements, misappropriated public funds and engaged in other improper behaviors over a number of years in order to reduce his salary in financial statements. Nissan has provided information to Japanese prosecutors and is actively cooperating with the investigation.

Through a months-long internal investigation, Nissan found that Mr. Ghosn had falsified financial statements, misappropriated public funds and engaged in other improper behaviors over a number of years in order to reduce his salary in financial statements. Nissan has provided information to Japanese prosecutors and is actively cooperating with the investigation.

Mr. Ghosn has been one of the most prominent figures in the global automobile industry over the past two decades. He previously served as the CEO of Renault in France and the Chairman and CEO for Nissan. As the CEO of Nissan in June 2001, he pulled Nissan from the brink of bankruptcy to become the world's most profitable carmaker. In addition, Mr. Ghosn became CEO of Renault in 2005, and finally in 2016, Chairman of Mitsubishi Motors.

Mitsubishi Motors stated that Mr. Ghosn has been relieved of his position as Chairman, but Renault noted that he will retain his position as Chairman and CEO.

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