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Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

World
Jan. 11 (UPI) -- Former Nissan Motors Co. Chairman Carlos Ghosn was indicted on new financial charges Friday in a Tokyo court. Ghosn, 64, was charged with aggravated breach of trust for allegedly transferring $ 17 million in personal investment losses to Nissan in 2008 as well understating his compensation by $ 37 million for three years through March 2018, the Nikkei Asian Review reported. Last month, he was indicted for underreporting his pay by around $ 46 million between 2010 and 2015. Ghosn has been in jail since his arrest on Nov. 19 at Tokyo's Haneda airport. Nissan dismissed Ghosn as chairman shortly after his arrest, but he remains chairman and CEO of Renault, which is the largest shareholder and partner of Nissan. The French company has assigned his duties to other executives. ...
Ghosn sacked as Mitsubishi Motors chairman

Ghosn sacked as Mitsubishi Motors chairman

Business
Carlos Ghosn has been sacked as chairman of Mitsubishi Motors after his arrest in Japan over misconduct claims.It follows a similar move by Nissan last week amid claims he falsely understated his salary and used company money for personal gain.Mr Ghosn, who headed an alliance of Renault, Nissan and Mitsubishi, has denied the allegations, according to media reports in Japan.He remains in detention and has not spoken publicly about the affair."During today's board meeting, it was decided that he is dismissed as chairman," the company said in a short statement. Brazil-born Mr Ghosn, aged 64, was the architect of the Renault-Nissan alliance, and brought Mitsubishi on board in 2016.He was credited with helping to stabilise the company after it was rocked by a ...
Nissan to fire chairman Ghosn for 'serious misconduct'

Nissan to fire chairman Ghosn for 'serious misconduct'

Business
Nissan is to seek the removal of its chairman Carlos Ghosn for "serious misconduct", the company has said. The announcement was made shortly after reports emerged that Mr Ghosn, who is also chief executive and chairman of Renault, faced arrest in Japan following an internal investigation into his financial affairs at Nissan.Renault shares hit their lowest level in almost four years on the news. Image: Carlos Ghosn, seen here on a post-Brexit vote visit to Downing Street, has been credited with turning round the fortunes of both Nissan and Renault Trading in Nissan shares had already ceased for the day.Nissan said it had been examining Mr Ghosn's reporting of his compensation for several months and the actions of anothe...
Patisserie Valerie chairman waives salary

Patisserie Valerie chairman waives salary

Business
The chairman of Patisserie Valerie has said he will waive his salary as he focuses on reviving the cake and cafe chain after an accounting scandal. Luke Johnson, who holds a large stake in the business, told the board he would not collect his £60,000 salary for the rest of his time at the group.He will also give up directorships at other firms amid criticism he holds too many. It follows shareholder anger about a rescue deal to keep the firm afloat. The chain, which owns 200 cafes, has been forced to raise £25m in emergency funding after it uncovered black hole in its accounts in October. Patisserie Valerie finance chief arrested Investors blast Patisserie Valerie boss As part of this, it issued £15m of new sha...