News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
21
o
Mount Lebanon
21
o
Metn
21
o
Keserwan
21
o
North
23
o
South
22
o
Bekaa
18
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Lebnan bi Ossa
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
21
o
Mount Lebanon
21
o
Metn
21
o
Keserwan
21
o
North
23
o
South
22
o
Bekaa
18
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Ghosn received $9 mln improperly from Nissan-Mitsubishi JV -companies
Breaking Headlines
2019-01-18 | 07:38
High views
Share
Share
4
min
Ghosn received $9 mln improperly from Nissan-Mitsubishi JV -companies
Carlos Ghosn improperly received $9 million in compensation from a joint venture (JV) between Nissan Motor and Mitsubishi Motors, the Japanese automakers said on Friday, raising the possibility of their ousted chairman facing a fresh charge of embezzlement.
In the latest twist to the saga of the once-feted official's fall from grace, the automakers have found that Ghosn was paid by their Netherlands-based JV without the knowledge of the unit's two other directors - Nissan Motor CEO Hiroto Saikawa and Mitsubishi Motor CEO Osamu Masuko.
Ghosn, arrested and detained in Tokyo for about two months, has already been indicted on charges of under-reporting his income for eight years at Nissan through March 2018, and temporarily transferring personal investment losses to the automaker during the global financial crisis.
"That such misconduct also occurred at our affiliate is beyond shocking ... it's sad," Masuko told reporters, referring to the payments made to Ghosn from Nissan-Mitsubishi B.V., registered in the Netherlands in 2017.
Both Mitsubishi and Nissan said they would consider ways to recover the amount from Ghosn, while Mitsubishi lawyer Kei Umebayashi said a criminal charge was also possible.
"The most likely charge for this would be embezzlement," he told reporters at a briefing.
COMPENSATION FROM JV
According to Mitsubishi's legal team, over April-November 2018, Ghosn received around 5.8 million euros ($6.61 million) in annual pay for his role as managing director, a 1.4 million euro signing fee and an undisclosed incentive from the JV.
Reuters reported earlier this week about the alleged improper compensation to Ghosn by the JV and that Nissan was considering filing for damages, citing a source.
The unit had been intended to fund expenses for the partnership including consultant fees, joint promotional activities, workspace use and corporate jets, Masuko said.
"From the time that the unit was established to when I was told about the payments, I had absolutely no idea that the unit was being used for such payments," Masuko added.
Ghosn's lawyer, Motonari Otsuru, could not be immediately reached by telephone for a comment on Friday. Ghosn has denied all previous charges against him.
MUDDY WATERS
The arrest of Ghosn, who spearheaded Nissan's turnaround two decades ago, and the list of charges against him have jolted the auto industry, while muddying the outlook for Nissan's three-way alliance with Mitsubishi and France's Renault SA.
Renault has come under a lot of pressure in recent days from its biggest shareholder, the French government, to replace Ghosn as its CEO and chairman. The automaker has kept him at its helm, even as Nissan and Mitsubishi moved swiftly to oust him as chairman after his arrest.
The French automaker, however, confirmed on Thursday that it was considering new leadership, after Finance Minister Bruno Le Maire called publicly for a board meeting to address his succession.
Ghosn's pay has been a hotly debated issue at Renault's shareholder meetings where he lost a vote on pay a few years ago. He has also been in news previously for hidden bonus plans.
Reuters reported in 2017 on a plan by Renault-Nissan bankers to pay millions in undisclosed bonuses via a specially created Dutch service company to Ghosn and other managers. The plan was scrapped after the Reuters report.
Renault owns around 43 percent of Nissan, the biggest firm in the alliance by sales and which in turn has a non-voting 15 percent stake in Renault. Mitsubishi became the smallest member when Nissan in 2016 took a 34 percent stake in it.
REUTERS
Breaking Headlines
Ghosn
Nissan
Japan
Next
Grand Mufti Derian travels to Saudi Arabia for Hajj
Recommended For You
d-none hideMe
0
Middle East News
2024-04-25
Over 430 settlers storm Al-Aqsa Mosque on third day of Passover holiday: Al Jazeera reports
Middle East News
2024-04-25
Over 430 settlers storm Al-Aqsa Mosque on third day of Passover holiday: Al Jazeera reports
0
Lebanon News
2024-04-23
Hezbollah announces launching 'dozens of rockets' at Israel in response to civilian deaths
Lebanon News
2024-04-23
Hezbollah announces launching 'dozens of rockets' at Israel in response to civilian deaths
0
Lebanon News
2024-04-21
Breaking: Israeli airstrike hits Naqoura, reports NNA
Lebanon News
2024-04-21
Breaking: Israeli airstrike hits Naqoura, reports NNA
0
Lebanon News
2024-04-21
Shelling from Lebanon hits Western Galilee: Israeli Channel 12 reports
Lebanon News
2024-04-21
Shelling from Lebanon hits Western Galilee: Israeli Channel 12 reports
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2024-02-23
US Ambassador's visit: MP Moawad's push for Resolution 1701 and Gaza ceasefire
Lebanon News
2024-02-23
US Ambassador's visit: MP Moawad's push for Resolution 1701 and Gaza ceasefire
0
Variety and Tech
2023-09-28
Lebanon's Amin Maalouf Takes the Helm: Elected as Perpetual Secretary of the French Academy
Variety and Tech
2023-09-28
Lebanon's Amin Maalouf Takes the Helm: Elected as Perpetual Secretary of the French Academy
0
Middle East News
2024-04-19
Hamas official: Israeli aggression on Iran is an escalation against the region
Middle East News
2024-04-19
Hamas official: Israeli aggression on Iran is an escalation against the region
0
Middle East News
2024-04-19
IAEA confirms 'no damage' occurred in Iranian nuclear facilities
Middle East News
2024-04-19
IAEA confirms 'no damage' occurred in Iranian nuclear facilities
Videos
d-none hideMe
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
News Bulletin Reports
12:28
Lebanon faces the imminent risk of being placed on the FATF grey list by late May
2
Variety and Tech
05:15
Lebanese director Nadine Labaki to join Cannes Film Festival 2024 jury
Variety and Tech
05:15
Lebanese director Nadine Labaki to join Cannes Film Festival 2024 jury
3
Lebanon News
05:55
Fadlallah: Any external initiative aiming to relieve the enemy is doomed to fail
Lebanon News
05:55
Fadlallah: Any external initiative aiming to relieve the enemy is doomed to fail
4
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
Israel-Gaza War Updates
00:53
Hamas official to AFP: 'No major issues' in movement's comments on ceasefire proposal
5
Lebanon News
05:44
Jordan and France coordinate efforts for Gaza and Lebanon peace
Lebanon News
05:44
Jordan and France coordinate efforts for Gaza and Lebanon peace
6
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
Lebanon News
03:53
Bilal Abdallah to LBCI: No significant Western action to curb Israeli aggression in south Lebanon
7
Middle East News
07:10
Saudi FM: Bilateral agreements with US 'in the near future'
Middle East News
07:10
Saudi FM: Bilateral agreements with US 'in the near future'
8
Israel-Gaza War Updates
09:44
British Foreign Minister: Proposal submitted to Hamas includes ceasefire in Gaza for 40 days
Israel-Gaza War Updates
09:44
British Foreign Minister: Proposal submitted to Hamas includes ceasefire in Gaza for 40 days
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More