By on September 15, 2020

Greg Kelly, the American businessman and former Nissan board member that was arrested with ex-chairman Carlos Ghosn almost two years ago, has pleaded not guilty to the financial misconduct charges leveled against him in Japan. While he was supposed to stand trial with Mr. Ghosn, Carlos escaped his captors with the help of at least one U.S. Army Special Forces veteran and a lot of careful planning at the end of 2019. Kelly is accused of helping the former chairman hide millions of dollars in deferred compensation.

During the trial, he defended Ghosn by saying he was an outstanding automotive executive who helped save Nissan in its darkest hour. He also hinted that the firm should have done everything in its power to retain him, adding that his role was to find legal ways of keeping Ghosn from jumping ship to a rival company. While that included financial incentives, Kelly asserted during the trial that Nissan’s attorneys were always consulted before decisions were made and that no illegal actions were taken. “I informed Mr. Ghosn what could be done legally and what could not be done legally,” he told the court. “I believe the evidence will show that I did not violate the [financial] disclosure regulations.”

(Read More…)

By on July 24, 2020

Carlos Ghosn Rogue Introduction - Image: Nissan

As the saying goes, the family that orchestrates the clandestine escape of an accused auto executive together, stays together. It seems that, on both sides of the operation to spirit arrested auto titan Carlos Ghosn out of Japan, were father-and-son teams.

In the U.S., arrangements for aircraft rentals and musical instrument boxes were handled by a former U.S. Army Special Forces member and his son, with funding provided by Ghosn  himself, and about half a million dollars’ worth of cryptocurrency offered up by Ghosn’s son, U.S. prosecutors claim. (Read More…)

By on July 20, 2020

Shortly after his high-flying escape from Japanese semi-captivity in late 2018, former Renault-Nissan Alliance boss Carlos Ghosn got catty, marveling at what became of those two automakers after they dropped him from the phone directory.

Despite the coronavirus pandemic sinking profits and sales across the globe, Ghosn is pretty sure he knows what’s really to blame for Nissan’s current misfortunes. (Read More…)

By on July 6, 2020

Nissan CEO Makoto Uchida attempted to smooth things over with investors last week by going over his company’s new recovery plan in great detail. As you undoubtedly know by now, the automaker found itself in a less than blissful situation following an ugly internal power struggle that highlighted corporate corruption and a business strategy that seemed like a liability without ideal economic circumstances and the man who penned it running the show.

With its share price already suppressed by worsening sales performance and assumed “management issues” with alliance partner Renault, the internal scandal kicked off by the arrest of former chairman Carlos Ghosn November 2018 is what really sent Nissan’s stock into a tailspin. Shares have lost more than half their value since the incident.

This placed Uchida in the undesirable position of having to explain what went wrong and how to fix it. In the past, Uchida said he’d happily be fired if he can’t turn things around, though that’s usually what happens to CEOs who can’t deliver (or need to be scapegoated and sacrificed on the alter of commerce by their board). Based on comments made at the company’s most recent shareholder meeting, Uchida seems to understand how things work.

“I said, ‘If Nissan’s performance does not improve, please fire me. Please dismiss me,’ ” he reminded the crowd on June 29th. “That’s what I said. And this policy remains unchanged.”  (Read More…)

By on June 15, 2020

Carlos Ghosn’s claim that he was the target of an industrial coup is looking a lot more valid this week after emails surfaced showing a high degree of internal organization regarding his ousting and subsequent criminal charges. The former head of the Renault-Nissan-Mitsubishi Alliance was infamous for wanting further integration within the pact. In fact, his aim was to make sure the tie-up became “irreversible.”

That idea never quite landed for Nissan leadership and Japanese shareholders, with many already holding the view that the alliance had already given French interests too much authority.

Emails dating back nearly one year before Ghosn’s November 2018 arrest clearly indicate top-level management at Nissan had a strong aversion to deepening ties with Renault. While understandable to a large degree, it’s counter to the claim that his removal was strictly about under-reported income and other financial malfeasance that were of particular interest to Tokyo prosecutors. At the very least, some actors at Nissan wanted to make sure the alliance patriarch suffered a massive loss of face while confronting allegations.  (Read More…)

By on May 20, 2020

Authorities arrested a former U.S. special forces member and his son in Massachusetts Wednesday, accusing them of helping former Renault and Nissan boss Carlos Ghosn escape from Japanese justice. Just after Christmas, Ghosn, under house arrest awaiting trial for financial crimes, turned up in the safe country of Lebanon following a complex and hazy escape plan.

Such a plan was beyond the abilities of Ghosn to pull off on his own, but it seems just such an extraction was Michael Taylor’s specialty. Taylor, 59, a former Green Beret, was arrested along with his 27-year-old son Peter. (Read More…)

By on May 8, 2020

Remember, long ago, when former Renault-Nissan boss Carlos Ghosn filled headlines, rather than a virus? Good times. And it seems they’re still good times for Ghosn, whose Bond-like pre-New Year’s escape from Japanese authorities via chartered jets and a musical instrument case delivered him to the relative safety of Lebanon. Warrants are out, but the country’s lack of an extradition agreement with Japan works heavily in the fallen exec’s favor.

While Ghosn, arrested in Tokyo in November of 2018 on suspicion of financial misdealings, may have managed to side-step what he claims was an orchestrated legal hit job, the same can’t be said of the crews of the private jets that shuttled him to Beirut. (Read More…)

By on March 2, 2020

Japanese Deputy Justice Minister Hiroyuki Yoshiie reportedly traveled to Lebanon this past weekend in an attempt to convince Carlos Ghosn to give up his life on the lam and head back to Tokyo to stand trial. Considering the defamed automotive executive fled the country because he was positively convinced this would end in a conviction, we probably won’t need to issue any follow-up reports about how the meeting ended.

Ghosn has repeatedly stressed his belief that Japan aided Nissan in ousting him from the company and has no interest in giving him a fair trial — calling it a “hostage justice” system.

Of course, all the real negotiating will be done by proxy through Lebanese Justice Minister Albert Serhan, with the pair scheduled to meet on Monday. Ghosn won’t actually be in attendance, but you had better believe he’ll be interested in the play-by-play recap. With his mind already made up on the matter, Japan will need to focus on persuading Serhan.  (Read More…)

By on February 12, 2020

Carlos Ghosn - Titan intro - Image: Nissan

Jeez, it’s a good thing they didn’t have kids.

Nissan has responded to former chairman and CEO Carlos Ghosn’s escape from Japanese captivity — and subsequent doubling down on his accusations of a corporate coup orchestrated by Nissan execs, with the help of Japanese officials — by filing a lawsuit.

As it attempts to free up cash elsewhere in the company, the struggling automaker is seeking to recoup losses from Ghosn’s alleged financial impropriety. (Read More…)

By on February 10, 2020

Internationally wanted fugitive and former automotive executive Carlos Ghosn has reportedly teamed up with Michael Ovitz, founder of Creative Artists Agency and ex-president of Walt Disney, to handle the movie or miniseries that’s definitely going to be made about his flight from Japan.

Ghosn could probably use the money, as he’s accustomed to the finer things in life. He forfeited $15 million in bail money when he skipped town, plus whatever it costs to hire an elite team of mercenaries to smuggle you halfway around the world.  (Read More…)

By on January 30, 2020

Tokyo prosecutors have issued warrants for the arrest of Carlos Ghosn and three Americans they claim helped him escape the country in December. His surprise arrival in Lebanon initially befuddled Japanese authorities, prompting the country to file a red notice with Interpol before releasing the latest warrant.

While a new development in the Ghosn saga, it doesn’t change much. The former executive still faces charges of financial misconduct stemming from his tenure with Nissan, but he now finds himself charged with violating Japan’s Immigration Control Law.

Japan’s take is that Ghosn fled the country to avoid justice (a backwards version of his own view). The former automotive executive and his wife, who is also wanted in Japan, have both stated publicly that they believe the country’s legal system would never allow Ghosn a fair trial, claiming officials worked with Nissan to help enact the industrial-grade coup that removed him.  (Read More…)

By on January 23, 2020

Carlos Ghosn Rogue Introduction - Image: Nissan

There’s certainly no love lost between former Nissan chairman Carlos Ghosn and the automaker he once helmed. After trashing the company’s sales performance in a Lebanon media conference earlier this month, during which he again accused Nissan of conspiring with Japanese officials to orchestrate his arrest, we know hear he gives the automaker maybe two or three years before it hits rock bottom.

Rock bottom” is where former CEO Hiroto Saikawa said his company was at last May. Maybe there’s still a ways to go. (Read More…)

By on January 16, 2020

Rumors that the Renault-Nissan-Mitsubishi alliance could be in danger of breaking up are unfounded, said alliance chairman Jean-Dominique Senard on Thursday.

The chairman was responding to reports of a contingency plan in the works at Nissan, one aimed at guiding the Japanese automaker away from its French partner in a stable fashion in the event of a split. (Read More…)

By on January 14, 2020

What’s a motorcycle and snowmobile builder doing talking about fallen Renault/Nissan boss Carlos Ghosn? It isn’t. The headline refers to the other Yamaha, maker of boxes big and small, among other things. (Read More…)

By on January 9, 2020

Carlos Ghosn‘s daring escape from the physical boundaries of the Japanese legal system has already been entered into the annals of automotive history and filed under “legendary” status. Guilty or not, the former Nissan executive outdid most Hollywood heist movies by sneaking out of the country while still under government supervision. Nobody in the media can help themselves from discussing it, not even this outlet.

However, he’s far from being free. He’s still wanted in Japan for alleged financial misconduct and the International Criminal Police Organization (Interpol) has issued a Red Notice — which is a global bulletin for authorities to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. Hopefully he’s famous enough for cops to identify from memory, as Interpol neglected to issue an accompanying photograph of the man(Read More…)

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