Saturday , July 31 2021

Carlos Ghosn is arrested in Japan for alleged tax fraud



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JAPAN – Carlos Ghosn, president of the automobile Nissan Horses, Renault and Mitsubishi, has been arrested Monday in Japan for deemed financial fraud. The arrest came after an internal investigation in Nissan which would have shown that the high office was hiding part of its salary for years to avoid paying taxes and funds diverted by the company for personal purposes.

Gosn will be dismissed from the office next Thursday together with one of his close colleagues, Greg Kelly, also involved in scandal. Following the scandal, the shares of both companies came off in the stock market. Renault made more than 9% in Paris, while Nissan, left more than 6% on Wall Street, reported the El País news portal.

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The researchers suspect that the iconic manager, born in Brazil and 64, We would not have declared a compensation worth 5 billion yen (about 44 million dollars, 38.5 million euros) for five years from 2011 to the stock market regulator, reporting the Japan Kyodo agency. Only in the financial year of 2017, the executive officially won some 17 million dollars, adding the payments of three motorized league companies that manage them (8.5 of Renault, 6.5 from Nissan and two of Mitsubishi ), according to the calculations of Bloomberg. In France, his salary was subject to a scandal and only filtering the shareholders' meeting passed when Gosn agreed to reduce by 20%.

Gosn was arrested at the Haneda airport in the Japanese capital, according to a number of local media. Her arrest was the result of the Nissan internal investigation carried out as a result of the worker's evidence, although the company did not identify when these inconsistencies were found or the length of the internal investigations. The company's own Office of Japan Prosecutor notified the poor practices, supported by auditors in cases involving "personal asset and company use," he said in a statement.

Meanwhile, Renault published a note stating that the board had learned about the note published by Nissan on Fear …

The case also dropped to another company's high position, Greg Kelly, who was also arrested. Alongside arrests, a number of agents had registered the Nissan Monday headquarters, located in the city of Yokohama, with the intention of gathering evidence about this alleged misuse of money.

At a press conference, the CEO of Nissan, Hiroto Saikawa, on many occasions that these were "significant" irregularities, although he refused to give details of them for not interfere with the ongoing investigation. "These are actions that can not be tolerated," said the CEO, who will formally offer on Thursday the removal of Penalty and Kelly of his / her posts to the Board of Directors at an exceptional meeting.

Saikawa married this behavior to the fact that Nissan's ship president concentrated too much force on the company and on the league with Renault and Mitsubishi.

"We must ensure that we do not rely on specific individuals in the future and have a more sustainable structure," he said. Finally, he has expressed his "lack, frustration, disappointment and despair" in learning the results of the investigation and asked "sincere apologies" to Nissan shareholders, employees and customers.

Meanwhile, Renault announced a note stating that the board had learned about the note published by Nissan on Gosn and that "detailed information is expected (…), consulted with the consultation expressing their commitment to protection y The interest of the Renault group in the League"It also publishes a brief meeting of the Board of Directors.

Announcement arrest Gosn caused the fall of Renault in F rancia shares (more than 10%), but the impact on Nissan shares is not seen until Tuesday because the scandal came after the markets closed in Japan. Under the league, Renault owns 43.4% of Nissan, while the Japanese company has 15% of the French maker.

The Mitsubishi car section is also part of the society, the largest in the sector by volume of sales, which is under the control of Nissan since 2016. Saikawa said that the company will continue to operate normally without its president and trust It reduces the impact of the scandal in the league with Renault and Mitsubishi.


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