Ghosn received $9M improperly from Mitsubishi-Nissan JV -companies

Reuters

Posted at Jan 18 2019 02:31 PM

FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, attends at the Tomorrow In Motion event on the eve of press day at the Paris Auto Show, in Paris, France, October 1, 2018. Regis Duvignau, Reuters

TOKYO - Arrested auto executive Carlos Ghosn improperly received 7.8 million euros ($9 million) in compensation from a joint venture between Nissan Motor Co and Mitsubishi Motors Corp, the companies said on Friday.

A joint investigation by the companies has found that Ghosn, ousted as chairman from both automakers, received the compensation without discussing it with the 2 other board members of the joint venture, Nissan CEO Hiroto Saikawa and Mitsubishi Motors CEO Osamu Masuko.

Nissan holds a controlling stake in Mitsubishi Motors.

Ghosn, arrested and detained in Tokyo since Nov. 19, has been indicted in Japan on charges of under-reporting his salary for 8 years through March 2018, and temporarily transferring personal investment losses to Nissan during the global financial crisis.