Ghosn suspected of shifting personal investment losses to Nissan, reports Asahi

Carlos Ghosn attends the Tomorrow In Motion event at the Paris Auto Show October 1, 2018. — Reuters pic
Carlos Ghosn attends the Tomorrow In Motion event at the Paris Auto Show October 1, 2018. — Reuters pic

TOKYO, Nov 27 — Carlos Ghosn, the former chairman of Nissan Motor Co, shifted personal investment losses incurred during the 2008 financial crisis to the automaker to avoid millions of dollars in losses himself, the Asahi Shimbun reported today.

Citing multiple unnamed sources, the paper said that when Ghosn’s bank had called for more collateral from the executive, he instead handed the rights over the derivatives trade to Nissan, which effectively shouldered 1.7 billion yen (RM63.1 million) in losses.

Japan’s Securities and Exchange Surveillance Commission (SESC) discovered this incident during that year’s routine inspection, the Asahi said.

Nissan said it could not comment on the report. An SESC spokesman said the watchdog could not comment on individual cases.



Ghosn is being held in detention in Tokyo after his arrest last week for financial misconduct, including allegedly understating his income for years. He has denied those allegations, public broadcaster NHK has reported.

Ghosn, who was unanimously voted out as chairman of Nissan last week, was also ousted as chairman of alliance partner Mitsubishi Motors Corp yesterday. — Reuters

Source: The Malay Mail Online

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