Nissan Chairman Carlos Ghosn Arrested for Under-Reporting Salary: Reports
*By Carlo Versano*
The chairman of Nissan Motors was arrested following a whistleblower report that he had under-reported his compensation and used company assets for his personal benefit, according to [reports](https://www.japantimes.co.jp/news/2018/11/19/business/corporate-business/nissan-motor-co-president-carlos-ghosn-facing-arrest-charge-not-reporting-full-salary-report/#.W_LBVehKiUk) in Japanese media. The arrest follows a [statement](https://nissannews.com/en-US/nissan/usa/releases/regarding-serious-misconduct-by-nissan-chairman-and-one-representative-director) from Nissan confirming that it was investigating "serious misconduct" by Chairman Carlos Ghosn and another high-level official.
The company said it would seek to remove Ghosn from his position.
Ghosn was appointed CEO of Nissan in 2001 following his successful efforts to restructure the French auto giant Renault, and transitioned last year into a role as board chairman. He also serves as chairman and CEO of Renault, as well as chair of Nissan of Mitsubishi, through a unique corporate alliance between the three automakers. Ghosn is widely credited with saving both Renault and Nissan from bankruptcy.
The extent of the misconduct allegations, or the arrest charges, were unclear as of Monday morning. Ghosn had been under investigation following a report that he had lied about his salary in Tokyo Stock Exchange disclosures with the help of Greg Kelly, a board director.
In a statement, Nissan added:
"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."
Ghosn had been criticized for his salary of about $9 million ー exorbitant by Japanese standards.
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
