Apr 22, 2019

Ghosn indicted on new charge of misappropriating Nissan funds

Nissan filed a criminal complaint against former Chairman Carlos Ghosn.

Former Nissan chairman Carlos Ghosn. Photo: Kazuhiro Nogi/AFP/Getty Images

Former Nissan chairman Carlos Ghosn was indicted on a fresh charge Monday of misappropriating the company’s funds for personal use — the most serious allegation yet, the Japan Times first reported.

Details: The charge came as Nissan said it'd filed a criminal complaint against Ghosn related to an aggravated breach of trust under the Companies Act in Japan. Nissan said it found payments it made to an overseas vehicle sales company via a subsidiary were directed by Ghosn for his personal enrichment.

"Such misconduct is completely unacceptable, and Nissan is requesting appropriately strict penalties."
— Nissan statement

The big picture: Ghosn was the architect of the Renault-Nissan-Mitsubishi Alliance — the largest carmaker in the world before his first arrest in November for alleged financial misconduct. He was released on $8.9 million bail but was rearrested and taken into custody in April. He denies any wrongdoing.

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