Carlos Ghosn arrested...
11-19-18, 05:06 AM
#1
Lexus Fanatic
Thread Starter
iTrader: (20)
Carlos Ghosn arrested...
And possibly arrested for corruption!
https://www.cnn.com/2018/11/19/business/carlos-ghosn-nissan-renault/index.html
Nissan is preparing to oust its chairman, Carlos Ghosn, after discovering "significant acts of misconduct" over many years by him and another top executive.
The stunning announcement about one of the global auto industry's highest-profile leaders slammed the stocks of Nissan (NSANY) and Renault (RNSDF), two of the carmakers that Ghosn leads.
Nissan said in a statement that it had been investigating Ghosn and another board member for months, and was now cooperating with Japanese prosecutors. Japanese media reported that Ghosn was being questioned by prosecutors and could be arrested.
More at link above
https://www.cnn.com/2018/11/19/business/carlos-ghosn-nissan-renault/index.html
Nissan is preparing to oust its chairman, Carlos Ghosn, after discovering "significant acts of misconduct" over many years by him and another top executive.
The stunning announcement about one of the global auto industry's highest-profile leaders slammed the stocks of Nissan (NSANY) and Renault (RNSDF), two of the carmakers that Ghosn leads.
Nissan said in a statement that it had been investigating Ghosn and another board member for months, and was now cooperating with Japanese prosecutors. Japanese media reported that Ghosn was being questioned by prosecutors and could be arrested.
More at link above
11-19-18, 06:13 AM
#3
Lexus Champion
He has now been arrested.
https://www.cnn.com/2018/11/19/busin...ult/index.html
Nissan Chairman Carlos Ghosn has been arrested by prosecutors in Japan after an internal investigation revealed "significant acts of misconduct" over many years by him and another top executive.
The company said its investigation found that Ghosn, 64, and the other board member, Greg Kelly, had been under-reporting Ghosn's compensation. "Numerous other significant acts of misconduct have been uncovered, such as personal use of company assets," it added.
11-19-18, 07:22 AM
#4
Lexus Fanatic
Don't forget, folks, Japanese authorities have blown it before with auto executives. Remember when they arrested Toyota's Julie Hamp for allegedly bringing in some medications in her suitcase (which she had valid American prescriptions for) that they claimed were against Japanese law? There were a lot of jokes, at the time, on the Internet, about Julie "Hemp", but the fact was that it not only caused Toyota a lot of unnecessary embarrassment, but the authorities ended up releasing her after THEY also went through a major embarrassment.
Even John DeLorean, who got arrested in Los Angeles with a suitcase full of cocaine, eventually managed to have the charges overturned, and claimed, to his last day, that the cocaine was planted.
So, we'll see what happens with this Ghosn case.
Even John DeLorean, who got arrested in Los Angeles with a suitcase full of cocaine, eventually managed to have the charges overturned, and claimed, to his last day, that the cocaine was planted.
So, we'll see what happens with this Ghosn case.
Last edited by mmarshall; 11-19-18 at 12:54 PM.
11-19-18, 07:39 AM
#5
Don't forget, folks, Japanese authorities have blown it before with auto executives. Remember when they arrested Toyota's Julie Hamp for allegedly bringing in some medications in her suitcase (which she had valid American prescriptions for) that they claimed were against Japanese law? There were a lot of jokes, at the time, on the Internet, about Julie "Hemp", but the fact was that it not only caused Toyota a lot of unnecessary embarrassment, but the authorities ended up releasing her after THEY also went through a major embarrassment.
Even John DeLorean, who got arrested in Los Angeles with a suitcase full of cocaine, eventually managed to have the charges overturned, and claimed, to his last day, that the cocaine was planted.
So, we'll see what happened with this Ghosn case.
Even John DeLorean, who got arrested in Los Angeles with a suitcase full of cocaine, eventually managed to have the charges overturned, and claimed, to his last day, that the cocaine was planted.
So, we'll see what happened with this Ghosn case.
11-19-18, 12:38 PM
#6
Lexus Fanatic
Perhaps so, but why a guy who probably makes a nine-figure salary would try to hide part of his income beats me. He can well-afford the taxes on it. I mean......look where that got Paul Manafort LOL.
11-19-18, 02:51 PM
#7
Lexus Fanatic
Trending Topics
11-19-18, 11:13 PM
#9
Lexus Test Driver
Never cared for the guy nor what he did for Nissan. Something about is name never sat right with me. Just tonight, the local newscaster called him "Carlos Gone."
11-20-18, 01:32 AM
#10
Lexus Test Driver
Allegations seem to be very weak at best.
Hiding true income by using the company to pay for personal expenses etc.
What CEO/Chairman is Not guilty of that? These people have their own corporate cards and spending accounts. Unless he was stealing tens of millions of dollars somehow by transferring into his personal bank account - this is bogus. Looks more like a power struggle with the current Japanese Nissan CEO looking to get rid of Ghosn.
Hiding true income by using the company to pay for personal expenses etc.
What CEO/Chairman is Not guilty of that? These people have their own corporate cards and spending accounts. Unless he was stealing tens of millions of dollars somehow by transferring into his personal bank account - this is bogus. Looks more like a power struggle with the current Japanese Nissan CEO looking to get rid of Ghosn.
Last edited by RNM GS3; 11-20-18 at 02:13 AM.
11-20-18, 11:04 AM
#12
Lexus Test Driver
11-20-18, 11:06 AM
#13
the irony is there would be no Nissan products for you to complain about if they went under without Ghosn. This guy was getting separate paychecks from multiple major car manufacturers for a reason.
Just a daily reminder for everyone, the tax code is commonly used as a political weapon. Pretty much everyone violates the tax code in some way or another.
Just a daily reminder for everyone, the tax code is commonly used as a political weapon. Pretty much everyone violates the tax code in some way or another.
11-20-18, 11:58 AM
#14
Lexus Fanatic
Just a daily reminder for everyone, the tax code is commonly used as a political weapon. Pretty much everyone violates the tax code in some way or another.
11-20-18, 12:22 PM
#15
Lexus Test Driver
There are plenty of legal tax shelters in the code, particularly with municipal bond interest/dividends (something I have taken advantage of for decades). In most cases, one does not have to cheat. And, the more you donate to recognized 501c3 charities (including that old clunker, BTW, that you are tired of looking at in your driveway), the more your tax-deductions will be.
Nissan is an international company that needs to abide by many different tax laws.
So far there has be no evidence provided of what exactly Ghosn did or why the internal and external auditors did not pick up on it.
Again to me this whole thing is about power struggle more than anything between Renault and Nissan. Renault was not advised of this investigation or given a heads up on the arrest - which is rather strange.
I expect this to happen in Russia or China - just goes to show how protective Japan is to their auto industry.