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.
Mitsubishi Sides With Nissan in Merger Backlash, Ghosn Claims He Was Set Up
Depending who you ask, the November arrest of disgraced auto executive Carlos Ghosn was either swift justice or a coup d’etat — with some help from the Japanese government. Re-arrested in December and held ever since without bail, Ghosn faces breach of trust charges alleging the exec covered losses incurred through foreign exchanges with Nissan’s funds between 2008 and 2012. Those losses add up to $16.6 million, according to the prosecution. He’s also cited for misrepresenting his income.
However, Ghosn doesn’t see things that way. On Wednesday, he told the Nikkei business daily that he believed the charges against him were motivated by Nissan executives opposed to further integration with its French alliance partner, Renault SA. “All the evidence is with Nissan and Nissan forbids all employees to talk to me,” he elaborated.
Ghosn's Days As an Auto Executive Could End Tomorrow
As the Carlos Ghosn saga slowly crawls its way towards a trial, the former Nissan and Mitsubishi chairman might soon add another “former” to his list of descriptors. In an effort to mend a rift in the automotive alliance, Renault’s board has scheduled an emergency meeting for Thursday, during which the pressure will be on to oust Ghosn as the automaker’s chairman and CEO.
As he cools his heels in jail, Ghosn isn’t in a position to offer much resistance to any decision rendered by the board. The exec has reportedly offered to resign.
Ghosn's Bail Petition Rejected, Wife Slams Treatment
For detained industry titan Carlos Ghosn, getting out of the slammer has thus far proven an insurmountable challenge. Interned in a Tokyo jail since his Nov. 19 arrest, the Renault CEO and former Nissan chairman has repeatedly seen his bail appeals fall on deaf ears, with past indictments squashing previous hopes for release.
On Tuesday, a Tokyo judge denied his most recent appeal, despite Ghosn offering up nearly everything in return.
Ghosn Professes Innocence in Court Hearing
Ghosn, with the help of his team of lawyers, earned the right to speak in a packed Tokyo courtroom on Tuesday, and he used his time efficiently.
Described as looking gaunt, the jailed Renault CEO and ex-Nissan chairman claimed he was “wrongly accused” at the Tokyo district court hearing, adding that there’s nothing improper about the way he managed his finances.
Ghosn's Lawyers Have a Big Day Planned Tomorrow
Renault CEO and ex-Nissan Chairman Carlos Ghosn is apparently very eager to tell his story, and tomorrow he’ll get his chance. The industry titan, who has resided in a Tokyo jail since his Nov. 19 arrest, is scheduled to appear at a Tokyo court hearing Tuesday — a hearing his team of lawyers fought hard to get.
Following Ghosn’s appearance, those lawyers plan to go before the media.
Details Emerge of Latest Ghosn Allegation
Ousted Nissan Chairman Carlos Ghosn didn’t have the kind of Christmas he’d have liked, cooling his heels in a Tokyo jail after new allegations led to his third arrest on Friday. This served to lengthen the already six-week-long internment of the industry titan.
Now, details have emerged of the alleged crime that’s keeping Ghosn behind bars.
With Ghosn's Release Seemingly Imminent, Nissan Tries to Keep Him From Going Home
Detained in a Tokyo jail since his Nov. 19 arrest, Renault CEO and former Nissan chairman Carlos Ghosn could soon find himself out on bail. A Tokyo district court has rejected an appeal aimed at keeping Ghosn in detention, meaning Christmas might be brighter for the auto industry titan than previously thought.
Meanwhile, Nissan’s scrambling to ensure that, if Ghosn does walk free, he won’t return to a number of glitzy homes.
Renault Keeps Ghosn as Chairman and CEO As Probe Reveals No Wrongdoing
Two automakers, two investigations, and two very different outcomes for one man.
Renault’s board of directors met in France today, deciding that CEO and chairman Carlos Ghosn should stay on in his current role in the wake of an internal investigation that members say showed no signs of criminality. Meanwhile, Ghosn sits in a Tokyo jail, indicted on charges of financial misconduct at Renault’s alliance partner, Nissan.
Away from the Paris streets, it seems everything’s hunky dory in France.
Ghosn Planned to Oust Nissan CEO Prior to Arrest in Japan, Sources Claim
Prior to his arrest in Japan last month over presumed financial misconduct, Carlos Ghosn was allegedly planning to remove Nissan CEO Hiroto Saikawa. The plot has certainly thickened.
Ghosn, who was serving as Nissan Motor Co.’s chairman before being taken into custody, was believed to be on the cusp of an upper-level management shakeup within the Renault–Nissan–Mitsubishi Alliance. Part of that plan included finding a new CEO for Nissan, according to inside sources.
Renault's Ghosn, Arrested Two Weeks Ago, Faces Re-arrest
He won’t have to travel far. Carlos Ghosn, who was booted as Nissan chairman following his November 19th arrest in Tokyo, will reportedly be re-arrested on a new claim of financial misdealings.
The new allegations, which also involve underreported income, give Japanese authorities what they’ve been looking for — more time with which to lay formal charges. Under the current extension granted late last week, Ghosn would have to walk free on December 10th. If re-arrested, it’ll mean a meager Christmas for the industry giant.
Ghosn's Detention Extended; Renault-Nissan-Mitsubishi Say They're in This Thing Together
Fallen auto industry magnate Carlos Ghosn can stay in a Tokyo detention center for another 10 days, following an extension approved Friday by Japanese authorities. Arrested two weeks ago on suspicion of underreported income and other potential financial crimes, Ghosn will be released on December 10th if authorities fail to lay charges — though no one expects that to happen.
Despite their disagreement on how the Ghosn affair should be handled, the three automakers Ghosn once reigned over have put forward a unified front. We’re all good, the chummy Renault-Nissan-Mitsubishi Alliance claims.
Dropped From Mitsubishi and Nissan, Ghosn Faces New Allegations
Mitsubishi Motors, which joined the Renault-Nissan Alliance in 2016, voted unanimously to drop Carlos Ghosn as its chairman Monday, just a week after the executive’s arrest on suspicion of financial misdealings.
According to CEO Osamu Masuko, who now dons the title of interim chairman, it was an “agonizing decision.” For Ghosn, the agony has just begun. Currently housed in a Tokyo jail awaiting formal charges, the industry titan ended last week by seeing the company he ran for 15 years, Nissan, oust him as chairman. Renault hasn’t made a decision as to the fate of its CEO.
While Ghosn is accused of underreporting his income in the early part of the decade, a Japanese newspaper has shed light on another alleged misdeed.
With Charges Still Not Laid, Ghosn to Be Treated 'As a Burglar'
Disgraced industry phenom Carlos Ghosn, who still holds the title of Nissan chairman and Renault CEO (though likely not for long), could remain in custody for some time as Japanese authorities take their time in laying charges.
The news of Ghosn’s arrest amid allegations of severely underreported income fell like a hammer Monday morning, shaking the stocks of the automakers Ghosn guided since their tie-up at the end of the last century. From an opulent private jet to a sparse Tokyo jail cell, the auto titan’s journey this week surprised everyone.
Renault-Nissan Boss Carlos Ghosn to Be Sacked; Industry Titan Faces Arrest in Japan
Carlos Ghosn, the globe-straddling executive behind the Renault-Nissan Alliance and the resurrection of Mitsubishi Motors, has reportedly been arrested in Japan following a whistleblower-prompted investigation into financial irregularities.
In a statement, Nissan said Ghosn and board director Greg Kelly allegedly violated Japanese financial laws by under-reporting compensation levels for years, all part of an apparent plot to hide Ghosn’s actual level of compensation. The automaker will move to remove Ghosn, thus ending a long and successful era of governance.