Nissan launches $90m lawsuit against Ghosn

EPA/KIMIMASA MAYAMA
Carlos Ghosn, Chairman and Chief Executive Officer (CEO) of Nissan Motor Co., Ltd., gestures as he speaks during a news conference in Tokyo, Japan, 20 October 2016 (reissued 23 February 2017). Nissan Motor Co. announced on 23 February 2017, it named Hiroto Saikawa as new president and CEO, while Carlos Ghosn is to remain chairman of the company. The change is to be effective from 01 April.

- Advertisement -

Nissan is suing its former chairman Carlos Ghosn for $90 million. Ghosn was arrested in Japan in 2018, but fled to Lebanon amid a trial for alleged financial misconduct.
He is accused for underreporting his income for years. He has denied the allegations, and has since launched court cases against the companies, arguing he was fired unlawfully.
Nissan said it was seeking to recover costs from Ghosn’s “corrupt” actions, including the personal use of private jets, using residential property without paying rent and making personal payments using company accounts.
The carmaker suffered a lot since the scandal, as it has been accused of falsifying Ghosn’s pay in financial statements.
The company fired him as chairman, and has since had difficulties getting back on track. It said it hoped to “recover a significant part of the monetary damages inflicted on the company by its former chairman as a result of years of his misconduct and fraudulent activity”.
His dramatic escape involved him taking a bullet train before a private jet flew him to Turkey and then Lebanon, meaning he has forfeited about $14m in bail paid to Japanese authorities. However, he insists that he was framed by former Nissan colleagues and Japanese government officials.
“Nissan’s manoeuvres continue. This complaint is made public on the eve of the Japanese group’s financial results. We note that after months of announcing damages of ¥35bn, Nissan is now claiming ¥10bn at the moment. Mr. Ghosn’s lawyers will react on the merits of the case once the content of the claim has been brought to their attention”, Ghosn’s spokesman said.

- Advertisement -

Subscribe to our newsletter

Latest

Kazakhstan accelerates digital transformation with new visa options

Upgrading its visa regime for skilled foreign workers and...

A Code of Conduct for the HR Outsourcing sector

The quote - often attributed to Deng Xiaoping -...

T is for tariffs

If the quick freeze and attempted shut down of...

EU officially implements landmark AI law

The EU officially implemented its new landmark AI law...

Don't miss

Kazakhstan accelerates digital transformation with new visa options

Upgrading its visa regime for skilled foreign workers and...

A Code of Conduct for the HR Outsourcing sector

The quote - often attributed to Deng Xiaoping -...

T is for tariffs

If the quick freeze and attempted shut down of...

EU officially implements landmark AI law

The EU officially implemented its new landmark AI law...

Trump administration unleashes first sanctions on Iranian shadow fleet

On February 6, the Department of the Treasury unleashed...

Donald Trump is inaugurated amidst promises of security, stability and prosperity

After storming a frigid Washington D.C. during his extended inauguration festivities on January 20, Donald J Trump, America’s 47th and 45th President, launched a...

The Biden administration’s parting gift to Russia: Still more sanctions

Clearly working overtime to underscore the Biden administration’s desire to inflict maximum economic pain on Moscow and its coterie of Ukraine invasion supporters outside...

Stock Market or Not Market

So, what is a market? Obviously, it is somewhere where you can buy and sell “stuff.” In a successful economy having a market to...

Is there any hope for a democratic and peaceful Syria?

Most observers will argue that a democratic and peaceful Syria is just a pipedream, but at least in the first weeks since Bashar-al-Assad’s rushed...

United States-Japan-Philippines inaugural maritime dialogue focuses on Chinese provocations

The United States, Philippines, and Japan raised “serious concerns” over China’s repeated blocking and continuing harassment of Philippine vessels in the West Philippine Sea...

Resources for the Common Good: New Taxation in Times of Crisis

Do you wonder whether the world is crumbling before your eyes? If so, you are not alone. The global human rights map is alarming:...

Lula’s G20 Rio Summit: Forgettable but not inconsequential

Seen from the perspective of a week after the November 19-20 Rio de Janeiro Summit, but before the event has completely receded into the...

U.S. sanctions Russian banks, finance officials and securities registrars

The U.S. announced on November 21 new sanctions targeting Russia’s largest remaining non-designated bank (Gazprombank), as well as dozens of other financial institutions and...