July 5, 2020

Nissan ordered to pay a fine of 20 million euros for the Ghosn case



The Japanese financial regulator has ordered Nissan Motor to pay a fine of 2,424 million yen (about 20 million euros) for not having duly declared the remuneration of its former president Carlos Ghosn for several years.

The Japan Financial Services Agency adopted the decision following a petition made by the Securities Market Monitoring Commission last December after filing a criminal lawsuit against the vehicle manufacturer and Ghosn in 2018.

The commission alleged that both Ghosn and the company had violated the law of financial instruments for allegedly not declaring the entire remuneration of the former director between 2010 and 2018.

The Japanese regulator estimates that Nissan did not include in its reports a series of payments agreed with Ghosn worth 9,100 million yen (about 76 million euros) that it should receive after retirement.

Initially, the amount of the fine was expected to double that finally set, but the company requested a reduction in the amount, claiming that it informed the matter before the investigation was initiated, a request that the financial regulator accepted, according to details collected this Saturday by the news agency Kyodo.

This punishment is outside the complaint that the financial regulator filed against Nissan for breaching its regulations and the charges that the Japanese prosecution has filed against the company and against Ghosn for the alleged irregularities.

The case against the employer was complicated and its viability is in the air after he fled clandestinely from Japan to Lebanon at the end of December, while he was on bail pending the start of the trial for said incorrect notification of wages and alleged embezzlement of corporate funds.

Ghosn, who was arrested for the first time on November 19, 2018 as a suspect in the alleged irregularities in the declaration of his emoluments, denies all the accusations.

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