See More on Facebook

Economics, News

Ghosn charged with falsifying reports

Ghosn and an associated remain in jail on charges of tax avoidance and falsifying reports.


Written by

Updated: December 11, 2018

Carlos Ghosn, former chairman of Nissan Motor Co., his aide Greg Kelly, former representative director of Nissan, and the automaker itself were charged on Monday with falsifying the firm’s securities reports.

Also on Monday, Ghosn, 64, and Kelly, 62, were rearrested by the special investigation squad of the Tokyo District Public Prosecutors Office on suspicion of underreporting more of Ghosn’s income.

Ghosn and Kelly were initially arrested on Nov. 19 on suspicion of violating the law by allegedly conspiring to underreport Ghosn’s executive remuneration in the company’s securities reports by a total of about ¥5 billion from the business year ending March 2011 to that ending March 2015. Prosecutors believe the actual amount of his pay was about ¥10 billion.

The pair denied the allegations during questioning by prosecutors, saying there was no obligation to state deferred payments in the securities reports because it had yet to be decided whether Ghosn would actually receive part of his remuneration after he stepped down.

Additional arrests were made because the pair allegedly violated the Financial Instruments and Exchange Law by understating Ghosn’s executive remuneration in the company’s securities reports by about ¥4 billion from the business year ending March 2016 to that ending March 2018, according to sources.

The Securities and Exchange Surveillance Commission on Monday brought a charge against Ghosn to prosecutors for understating his remuneration over five fiscal years through March 2015, sources said.



Enjoyed this story? Share it.


The Japan News
About the Author: The Japan News is published by The Yomiuri Shimbun, which boasts the largest circulation in the world.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Economics, News

Singapore confirms first Wuhan virus case: What you should do

Travellers and members of the public should adopt the following precautions at all times, the Ministry of Health said in a statement on Thursday (Jan 23): – Avoid contact with live animals, including poultry and birds – Avoid eating raw and undercooked meat


By The Straits Times
January 24, 2020

Economics, News

Davos speakers fear possibility of a China-US economic decoupling

In a speech at the 50th World Economic Forum in Davos, Switzerland, Singapore PM Lee said that the US, China and globalisation are three major external factors that have driven the economic prosperity of Singapore, but they are all changing now. Singapore’s Prime Minister Lee Hsien Loong warned on Wednesday that a possible decoupling of the Chinese and United States economies could have severe consequences. In a speech at the 50th World Economic Forum in the ski town of Davos, Switzerland, Lee said that the US, China and globalization are three major external factors that have driven the economic prosperity of Singapore, but they are all changing now. “So we would like to continue to work with America, we would like to conti


By China Daily
January 24, 2020

Economics, News

EDITORIAL: Lockdowns resolute move that needs national support

The rapid spread of novel coronavirus has sparked fears of a global outbreak. The city of Wuhan and some of its neighbours have been put into lockdown which speaks volumes about the gravity of the situation. All 17 deaths caused by the novel coronavirus, whose rapid spread has sparked fears of a global outbreak, have been in Hubei province. And, so far, of the 571 people infected nationwide, the majority are in the provincial capital Wuhan, which is where the outbreak first appeared, and surrounding areas. Which is why the city and some of its neighbors have been put into lockdown. The move, unprecedented in modern times, speaks volumes about the gravity of the situation and the seriousness with which the government is taking the public health threat. T


By China Daily
January 24, 2020

Economics, News

Malaysian author Hanna Alkaf wins US book award, starts 2020 with a bang

Hanna Alkaf, a local author has won the US-based Freeman Book Awards for her debut novel The Weight Of Our Sky. Local author Hanna Alkaf has won the US-based Freeman Book Awards for her debut novel The Weight Of Our Sky. The KL-born was named one of the winners in the Young Adult/High School Literature category for her acclaimed novel set against the backdrop of the May 13 riots in Malaysia in 1969. The other winner under the same category is Philippines writer Randy Ribay for his coming-of-age novel Patron Saints Of Nothing. “I was very excited to get the news!” says Hanna, 35, upon finding out about her win on Monday. “I just waited for the official announcement to be made to tell people,&#


By The Star
January 24, 2020

Economics, News

Wuhan virus: China locks down five cities at epicentre of outbreak

Move to curb virus’ spread across world comes as experts race to crack its code. China has taken the unprecedented move of locking down cities at the heart of a new Sars-like outbreak that has spread swiftly across provinces and the world, killing at least 17 and infecting more than 630. In a dramatic effort to curb the sweep of the mutating virus, officials in Wuhan announced at midnight on Wednesday that the city, where the mystery coronavirus originated last month in a wet market that sold live animals, was being sealed off. Last night, the authorities in the surrounding cities of Huanggang, Ezhou, Chibi and Xiantao in the same Hubei province in central China also imposed travel restrictions. The toughest measures were taken in Huanggang, where


By The Straits Times
January 24, 2020

Economics, News

Pakistan on path to growth after tough economic period, PM Imran tells WEF session

At the World Economic Forum in Davos, Prime Minister Imran Khan acknowledged that Pakistanis are “hurting” under his government’s economic stabilisation programme, but expressed the hope that 2020 will bring growth and job opportunities for the people. Recalling that his government had inherited the “worst economic crisis” in the country’s history, the premier said he has never had to face the kind of “public attitude” that he encountered in the last one year due to the tough economic decisions taken by the government. “People are hurting. We have gone through this very tough period,” he told the audience, adding that the economy has now been stabilised. “This year we are looking towards econom


By Dawn
January 23, 2020