Ghosn hid part of Nissan’s salary for fear of being kicked out of Renault, a Tokyo court said by Reuters

2/2 © Reuters. FILE PHOTO: Carlos Ghosn to Unveil Ambitions Plan to Help Lebanon’s Economy 2/2

TOKYO (Reuters) – Carlos Ghosn hid part of his compensation at Nissan (OTC 🙂 because he feared the French government would force him to leave Renault (PA 🙂 if it found out how much he was earning, a Japanese automaker executive told a Tokyo court Thursday. Hari Nada, a former Nissan vice president in charge of legal affairs, is a key whistleblower in the case brought by Japanese prosecutors against former Nissan and Renault boss Ghosn, who was arrested in 2018. Nada testified at the former Nissan executive’s trial. , Greg Kelly, who is tasked with helping Ghosn hide 9.3 billion yen ($ 89 million) in compensation for eight years through deferred payments after Japan introduced new rules requiring executives to disclose overpayments of the billion yen. Kelly has pleaded not guilty. He has been out on bail in Japan since his release from jail in 2018 and faces a trial without Ghosn because his co-defendant fled to Lebanon in December 2019. Ghosn, who was one of the world’s most prominent car bosses as Renault boss – The Nissan-Mitsubishi alliance has denied the wrongdoing. He says he is the victim of a boardroom coup by former Nissan colleagues, concerned that it will fuel a merger between Nissan and Renault, its largest shareholder. Nothing told the court that Ghosn had hidden his true compensation because he feared repercussions in France. He said Kelly had given him this information. “He didn’t want to be fired. If he paid himself what he wanted and that was revealed, the French state would have felt compelled to fire him,” said Nada, who agreed to cooperate with Japanese prosecutors in exchange for immunity from prosecution. . The French economy ministry declined to comment. Nothing was demoted after Ghosn’s arrest. Ghosn, who is also accused of enriching himself through $ 5 million in payments to a Middle Eastern car dealer, and for breach of trust for temporarily transferring personal financial losses to his employer’s books, also denies wrongdoing. Kelly’s trial could last about a year. If convicted, he could face up to 10 years in prison and a 10 million yen fine.

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