Mexican Media Brands
Report: Ghosn Kept List of Hidden Compensation
Japanese prosecutors have found a list apparently created by former Nissan Motor Co. Chairman Carlos Ghosn that charts compensation the company didn’t report but he expected to receive, The Nikkei says.
#legal
Share
Japanese prosecutors have found a list apparently created by former Nissan Motor Co. Chairman Carlos Ghosn that indicates compensation the company didn’t report but he expected to receive after retiring, The Nikkei says.
The newspaper says authorities consider the documents as evidence that Ghosn was well aware of the difference between his actual compensation and what was stated by the company in securities reports.
Ghosn was indicted on Dec. 10 for understating his compensation by 4.8 billion yen ($43 million) during fiscal 2010-2014. Prosecutors also leveled new charges claiming Ghosn hid another 4.2 billion yen ($37 million) for the 2015-2017 fiscal years.
The Nikkei says Ghosn appears to have begun in 2010 to defer large portions of his annual compensation until after retirement. That was the year that changes in Japanese fiduciary reporting began to require that companies report specific compensation for each board director.
Nissan reported only what Ghosn actually received each year. The newspaper says Ghosn and unnamed others documented the amount they were to eventually receive, how much they deferred and the difference between the two, which Nissan reported.
RELATED CONTENT
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins
-
China Prepares to Sanction U.S. Carmaker for Price Fixing
China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.
-
Bosch Targeted in Criminal Probe of VW Diesel Cheating in U.S.
Federal prosecutors in the U.S. are trying to determine whether Robert Bosch GmbH conspired to help Volkswagen AB—and perhaps other carmakers—rig their diesel engines to evade emission standards, sources tell Bloomberg News.