Former Nissan CEO Carlos Ghosn, accused of embezzling money from French automaker Renault to fund his luxury lifestyle, has sued Nissan for defamation and fabrication of physical evidence, according to reports. Reuters Tuesday 20 June.
Carlos Ghosnwho fled Japan after claiming Nissan and 12 people connected to the company arrested him for financial misconduct, has sued the automaker in his native Lebanon.
according to bloombergCarlos Ghosn will be called Billion dollar to Nissan ($588 million in damages and costs and $500 million in punitive damages).
Arrested in Japan at the end of 2018, Carlos Ghosn claims the charges against him were fabricated from scratch as part of a plot hatched by Nissan executives to prevent a merger. He escaped from Japan on a private plane the following year.
The former Nissan executive is accused of funneling money from French automaker Renault through Oman-based car distributor Suhail Bahwan Automobiles and using the money for purchases such as a luxury yacht.
France reportedly issued an international arrest warrant for Carlos Ghosn last year. The latter has repeatedly denied embezzling money from Renault.
Hired by Renault in 1996, Carlos Ghosn was the driving force behind the alliance formed in 1999 between the French automaker and Nissan. He was appointed president of Nissan in 2000 and CEO in 2001. Mitsubishi was added to the partnership in 2017, and Carlos Ghosn served as CEO of the Renault-Nissan-Mitsubishi Alliance until his arrest. Carlos Ghosn and his chief assistant, Greg Kelly, in Japan in November 2018 and detained for questioning on false accounting charges. He was dismissed from the Nissan Board of Directors on the same day and CEO of Nissan, Hiroto Saikawa, claimed that the two men had not reported their salary, which was a violation of securities law, and that they had used the company’s money for personal gain. Carlos Ghosn fled Japan in December 2019 and has since maintained his innocence, alleging that Nissan officials colluded with Japanese prosecutors to arrest him over Renault’s growing influence over Nissan. He accused the prosecution of leaking false information to the press in an attempt to discredit him. Carlos Ghosn has reached an agreement with Securities and Exchange Commission (SEC) regarding information about his salary and benefits. He also reached an agreement with Nissan, whereby neither party denies or validates information received from the SEC.
The first hearing regarding the lawsuits filed by Carlos Ghosn against Nissan is scheduled to take place on September 18 in Lebanon, according to what he reported. Reuters. This legal action against Nissan is the latest in a long series initiated by the Ghosn family. In fact, the latter sued the automaker immediately after Carlos Ghosn’s arrest, accusing Nissan of changing the locks on its homes in Rio de Janeiro and Beirut, which it paid for with money from Nissan and the Zi-A, according to The Guardian. Wall Street Journal. The courts then granted the family access to their apartment in Rio and the Beirut Palace to retrieve personal effects. Then, Carlos Ghosn sued Nissan in Amsterdam in 2019, claiming he was fired by the Dutch automaker’s unit and a joint venture called Nissan-Mitsubishi BV. Then the Dutch court ordered him to pay $6.1 million in the salaries of Nissan and Mitsubishi, it reported Reuters. In 2020, Nissan filed a civil lawsuit against Carlos Ghosn, alleging $91 millionan amount equivalent to “a large part of the financial damages inflicted on the company by its former boss after years of misconduct and fraudulent activities,” it stated. bloomberg. This trial is still ongoing, as are the criminal proceedings against Carlos Ghosn in Japan for understating his wages.
Translated article from the American magazine Forbes – Author: Mary Whiteville Roelofs
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