Renault-Nissan-Mitsubishi's CEO Carlos Ghosn has been arrested in Japan on charges of not reporting his full compensation, along with Representative Director Greg Kelly.
Nissan has confirmed that they’re performing an internal investigation that involves both Ghosn and Kelly for many years based on a whistleblower report.Local media report that Ghosn is accused of not reporting around $44 million (5 billion yen) of income in the course of 5 years, along with other violations of Japan’s financial laws.Nissan is getting ready to oust Ghosn and Kelly at a board meeting, with the automaker to hold a press briefing in Tokyo later today."The investigation showed 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," said Nissan in a statement."Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement has also been confirmed.""Nissan’s Chief Executive Officer Hiroto Saikawa will propose to the Nissan Board of Directors to promptly remove Ghosn from his positions as Chairman and Representative Director. Saikawa will also propose the removal of Greg Kelly from his position as Representative Director."