Nissan paying $15M, Ghosn $1M to settle U.S. fraud charges
Washington — Nissan will pay $15 million and former chairman Carlos Ghosn will pay $1 million to settle allegations by U.S. regulators that they hid more than $140 million of Ghosn’s retirement benefits from investors.
The Securities and Exchange Commission announced Monday the settlement of civil fraud charges with the major Japanese automaker and its former chairman, who also will be barred for 10 years from serving as an officer or director of a public company. Ghosn, 65, is awaiting trial in Japan on financial misconduct charges in a criminal case.
Ghosn, who led Nissan for two decades, was arrested by Japanese authorities in Tokyo and jailed four times since November. He has maintained that he is innocent.
He is out on bail but faces restrictions on his activities such as not being allowed to contact his wife, Carole Ghosn. She has appeared before a Japanese judge to answer questions in the case. The first hearing in the trial has been set for April.
Read more: https://www.detroitnews.com/story/business/autos/foreign/2019/09/23/nissan-ghosn-settle-fraud-charges/40193779/