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Nissan Chairman Carlos Ghosn arrested for financial misconduct

Jaclyn Jaeger | November 19, 2018

Japanese automaker Nissan has dismissed Carlos Ghosn from his chairman role, following his arrest by prosecutors in Japan for engaging in financial misconduct.

On Nov. 19, Japan’s NHK public television reported that Ghosn was arrested in Tokyo on suspicions that he violated Japanese financial laws. Immediately preceding his arrest, Nissan issued a statement announcing that it had been conducting an internal investigation “over the past several months” regarding misconduct involving Ghosn and representative director Greg Kelly.

The internal investigation, sparked by a whistleblower report, revealed that “over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount in order to reduce the disclosed amount of Carlos Ghosn’s compensation,” Nissan stated...

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