New allegations against Ghosn concern payments to Saudi businessman – sources
27 Dec 2018

Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan (7201.T) Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said.

Prosecutors arrested Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker.

The prosecutors’ statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen (£13.15 million or $16.6 million) incurred on a swap contract he had with a bank which it did not name.

– By Norihiko Shirouzu, Reuters, 26 December 2018.

Link to Reuters.

Photo: World Economic Forum / Eric Miller

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