Ghosn's legal woes deepen as Nissan sues for $95 mln in damages
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
WEDNESDAY, MAY 18, 2022
WEDNESDAY, MAY 18, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Ghosn's legal woes deepen as Nissan sues for $95 mln in damages

World+Biz

Reuters
13 November, 2020, 04:05 pm
Last modified: 13 November, 2020, 04:08 pm

Related News

  • Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week
  • Nissan executive expects semiconductor shortage to continue until mid-2022
  • Ctg customs to auction 100 lots of goods Thursday
  • Through the Generations: The Fairlady Z
  • Twin-Turbo, 400 HP, Manual: The 2023 Nissan Z

Ghosn's legal woes deepen as Nissan sues for $95 mln in damages

Ghosn, who also ran French carmaker Renault SA, has been in Lebanon since January after fleeing Japan before he was due to stand trial. He denies any wrongdoing

Reuters
13 November, 2020, 04:05 pm
Last modified: 13 November, 2020, 04:08 pm
Former Nissan chairman Carlos Ghosn arrives to deliver a news conference at the Lebanese Press Syndicate in Beirut, Lebanon January 8, 2020. REUTERS/Mohamed Azakir
Former Nissan chairman Carlos Ghosn arrives to deliver a news conference at the Lebanese Press Syndicate in Beirut, Lebanon January 8, 2020. REUTERS/Mohamed Azakir

Ousted Nissan Motor Co chairman Carlos Ghosn's legal woes deepened on Friday with the start of a civil trial in Yokohama, Japan, where his former employer is seeking 10 billion yen ($95 million) in damages.

"The legal actions initiated today form part of Nissan's policy of holding Ghosn accountable for the harm and financial losses incurred by the company due to (his) misconduct," Nissan said in a statement.

Ghosn, who also ran French carmaker Renault SA, has been in Lebanon since January after fleeing Japan before he was due to stand trial. He denies any wrongdoing.

Prosecutors, who arrested Ghosn two years ago, have charged him with hiding 9.3 billion yen ($88.6 million) in compensation, enriching himself at Nissan's expense through $5 million payments to a Middle East car dealership and temporarily transferring personal financial losses to the automaker's books.

The "Nissan civil lawsuit is an extension to the extremely unreasonable internal investigation with sinister intent by a portion of Nissan's senior management and the unreasonable arrests and indictments by the public prosecutors," Ghosn said in an emailed statement.

Ghosn, who has said he was removed from Nissan to thwart any merger with Renault, which already owns 43% of the Japanese carmaker, was represented in the Yokohama court by lawyers.

The civil proceeding got underway as the criminal trial of former Nissan executive Greg Kelly, who is accused of helping Ghosn hide his earnings, continued at a court in Tokyo.

Kelly, who has lived in Japan since his release on bail almost two years ago, also denies any wrongdoing. Nissan, which is also a defendant in that trial, has pleaded guilty. If found guilty, Kelly could face up to ten years in prison and a 10 million yen fine. The conviction rate in Japan is around 99%.

Nissan is drawing back from the business expansion undertaken under Ghosn. On Thursday, it trimmed its full-year operating loss forecast as a rebound in auto demand in China and elsewhere helped boost sales.

Nissan / Carlos Ghosn

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Social safety budget to stay same despite inflation rise
    Social safety budget to stay same despite inflation rise
  • RMG makers worried over move on power tariff hike
    RMG makers worried over move on power tariff hike
  • A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
    Dollar hits Tk100 mark in open market

MOST VIEWED

  • Service members of pro-Russian troops, including fighters of the Chechen special forces unit, stand in front of the destroyed administration building of Azovstal Iron and Steel Works during Ukraine-Russia conflict in the southern port city of Mariupol, Ukraine April 21, 2022. REUTERS/Chingis Kondarov
    Azovstal siege ends as hundreds of Ukrainian fighters surrender
  • French President Emmanuel Macron gives a news conference at the end of a special meeting of the European Council in light of Russia's aggression against Ukraine, in Brussels, Belgium, February 25, 2022. Photo :Reuters
    Macron urges rapid Israeli probe into death of Al Jazeera reporter
  • Emergency personnel work near a building damaged after a military strike, in Odesa, Ukraine, in this handout image released May 9, 2022. State Emergency Service of Ukraine/Handout via REUTERS
    G7 finance ministers plan 15 billion euros aid for Ukraine
  • North Korea Covid outbreak is 'worrying' for new variants -WHO
    North Korea Covid outbreak is 'worrying' for new variants -WHO
  • Women take part in a pro-abortion rights demonstration to mark International Safe Abortion Day, in Madrid, Spain on 28 September 2021. Photo: Reuters
    In Europe's first, Spain aims to introduce paid menstrual leave
  • Sweden's Prime Minister Magdalena Andersson and the Moderate Party's leader Ulf Kristersson (not pictured) hold a news conference in Stockholm, Sweden on 16 May 2022. TT News Agency/Henrik Montgomery via
    Sweden and Finland to hand in NATO applications on Wednesday, Swedish PM says

Related News

  • Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week
  • Nissan executive expects semiconductor shortage to continue until mid-2022
  • Ctg customs to auction 100 lots of goods Thursday
  • Through the Generations: The Fairlady Z
  • Twin-Turbo, 400 HP, Manual: The 2023 Nissan Z

Features

Despite Bangladesh having about 24,000 km of waterways, only a few hundred kilometres are covered by commercial launch services. Photo: Saad Abdullah

Utilising waterways: When common home-goers show the way

12h | Panorama
Illustration: TBS

How Putin revived Nato

13h | Panorama
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam

The United House: Living and working inside nature

13h | Habitat
Pcycle team members at a waste management orientation event. Photo: Courtesy

Pcycle: Turning waste from bins into beautiful crafts

15h | Panorama

More Videos from TBS

The first mosque in India was built Prophet Mohammad time

The first mosque in India was built Prophet Mohammad time

4h | Videos
After six decades ,the Archies is back

After six decades ,the Archies is back

4h | Videos
Exporters in discomfort, expatriates preferring Hundi

Exporters in discomfort, expatriates preferring Hundi

4h | Videos
Can your coworker be your closest friend?

Can your coworker be your closest friend?

14h | Videos

Most Read

1
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

2
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

3
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

4
How Bangladesh can achieve edible oil self-sufficiency with local alternatives
Bazaar

How Bangladesh can achieve edible oil self-sufficiency with local alternatives

5
Govt tightens belt to relieve reserve
Economy

Govt tightens belt to relieve reserve

6
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab