Ghosn to Pay Back Costs From Ritzy Versailles Wedding

ghosn to pay back costs from ritzy versailles wedding

While former Renault CEO (and ex-Nissan chairman) Carlos Ghosn is no longer living the high life, this wasn’t always the case. After performing an audit in the wake of Ghosn’s Nov. 19 arrest, Renault stumbled upon an improper use of a very exclusive venue, paid for with company sponsorship funds.

The event was Ghosn’s 2016 wedding, and the venue was France’s Chateau de Versailles — an opulent 2,300-room palace once home to kings and Napoleon.

While most Americans know Versailles as a lacklustre midsize Lincoln sedan, the car’s namesake is actually a building that doesn’t come cheap. Through a sponsorship agreement, Renault was allowed to host events at the palace. However, Renault claims a Marie Antoinette-themed wedding does not fall under the category of “corporate event.”

According to Bloomberg, Ghosn has agreed to pay back the cost of renting Versailles for his lavish wedding, which reportedly featured an impressive spread of ornate cakes. You’ll recall that Ghosn currently receives three bowls of rice each day in his sparse Tokyo jail cell.

Ghosn’s offer to repay the expenses, totalling around $57,000, comes a day after Renault said it planned to tip off French authorities that the former CEO received a “personal benefit” worth that amount. French newspaper Les Echos reports that Ghosn hosted another glitzy party at Versailles two years earlier, this one for his 60th birthday.

Observers were quick to note how swiftly the French national moved to make nice with his home country, versus his reaction to financial misconduct accusations by Nissan and Japanese authorities. Faced with breach of trust charges and indictments for allegedly underreporting personal income to the Japanese finance ministry, Ghosn steadfastly maintains his innocence.

The former exec recently resigned as Renault CEO and chairman after failing to secure bail, despite a myriad of promises on Ghosn’s part. Nissan and Mitsubishi ousted Ghosn as chairman shortly after his arrest.

[Image: Nissan]

Join the conversation
5 of 18 comments
  • WildcatMatt WildcatMatt on Feb 08, 2019

    I think this is the first misdeed I've seen reported on Ghosn that is specific, substantial, and doesn't require interpretation by a specialist in international tax accounting to understand as wholly inappropriate. It will be interesting to see if more items like this come to light in the next few weeks.

    • See 1 previous
    • Noble713 Noble713 on Feb 12, 2019

      @SCE to AUX Eh, I think I read somewhere else that Ghosn's wedding cost somewhere in the $1-2 million USD range, so $57k getting billed to your expense account when your company has special dispensation to rent the one-of-a-kind historical facility that you desire seems really minor, all things considered. If the whole wedding was paid for by the company as a "company event" I'd say his goose would be cooked.

  • DriverDan7 DriverDan7 on Feb 08, 2019

    You know, Ghosn really seems like an ideal fit for the Trump administration.

  • Bobbysirhan After massive bus fire, CT pulls electric fleet from service ( least they're following the science.
  • SPPPP I got a kick out of the three paragraphs beginning with "As a reminder..." and ending with "straight(ish) line". In no small part because they showed up twice in the article. As I scrolled past the next picture, I was gleefully excited to see if they would show up a third time. But no, the rest of the article continued as normal. Competent though it was, the magic was gone.
  • SPPPP Just an observation - at $1.66 billion for a target 1,800 buses, that's $922,222.22 per bus. I know they will need chargers, but still ... doesn't that seem pretty un-ambitious? Couldn't they put more than 20,000 Ford E-transit electric vans on the streets for the same price?
  • Kosmo The power figures for the 3.0 diesel are impressive, especially compared to the 3.0 diesel in our 2007 Sprinter.(Ralph Nader enters room) How do those STEEL bumpers affect crash safety?
  • Kosmo Magnum Wagon reboot would be the schizzle!