Carlos Ghosn, the weak head of Nissan who has been accused of funneling money from French automaker Renault to fund his luxury standard of living, has sued Nissan for $1 billion claiming libel, defamation and the fabrication of cloth proof, Reuters reported Tuesday.
Dilapidated Renault-Nissan boss Carlos Ghosn looks on earlier than addressing a gigantic crowd of journalists on … [+] his causes for dodging trial in Japan, the put he is accused of monetary misconduct, at the Lebanese Press Syndicate in Beirut on January 8, 2020. JOSEPH EID/AFP via Getty Photos
AFP via Getty Photos
Key Info
Ghosn, who fled Japan after he acknowledged Nissan and 12 linked other folks organized for his arrest for monetary misconduct, filed the lawsuit in his dwelling nation of Lebanon.
Controversy has since shrouded the hotfoot as maritime consultants and others request why the submersible—which used to be built the usage of parts from RV supplier Camping World and is controlled with a 2011 Logitech gamepad controller— used to be allowed to plan the hotfoot within the major space.
The lawsuit claims $588 million in misplaced compensation and charges, to boot to $500 million in punitive measures, in accordance to Bloomberg.
Ghosn used to be arrested in Japan in tiresome 2018 on charges he says were fabricated in a living by Nissan executives to block a merger; he escaped the nation aboard a internal most jet the next year.
The ex-CEO is accused of funneling funds from the French automaker Renault via Oman-primarily based automobile distributor Suhail Bahwan Autos and the usage of the money for purchases devour a 120-foot luxury yacht.
Key Background
Ghosn, who used to be employed by Renault in 1996, used to be the driving drive at the lend a hand of the 1999 alliance fashioned between the French automaker and Nissan. He used to be named president of Nissan in 2000 and CEO in 2001. Mitsubishi used to be added to the partnership in 2017 and Ghosn served because the chairman and CEO of the Renault–Nissan–Mitsubishi Alliance till his arrest. Ghosn and his high aide, Greg Kelly, were arrested in Japan in November of 2018 and held for questioning over allegations of pretend accounting. Ghosn used to be fired from Nissan’s board the same day and Nissan chief executive Hiroto Saikawa claimed the pair underreported their pay, a violation of securities law, and historical firm money for non-public employ. Ghosn fled Japan in December of 2019 and has since doubled down on claims of his innocence, claiming Nissan officers colluded with Eastern prosecutors to indulge in him arrested out of bitterness that Renault had too noteworthy influence over the firm. Ghosn has accused the prosecutors of leaking faux data to the clicking in a relate in self belief to atomize his reputation. Ghosn settled with the Securities and Exchanges Commission over $140 million of pretend monetary disclosures to investors relating to to his wage and advantages. Nissan and Ghosn settled with out admitting or denying the SEC’s allegations.
What To Glimpse For
A Lebanese prosecutor has scheduled a court session on Sept. 18 to launch proceedings, Reuters reported.
Tangent
The $1 billion lawsuit is the most modern in a series of court proceedings with Nissan and its ex-chief. The Ghosn family sued Nissan right away following the arrest, after the firm allegedly modified the locks to homes in Rio de Janeiro and Beirut, paid for with money from Nissan and Zi-A, the Wall Avenue Journal reported. Courts later granted the family uncover admission to to their Rio apartment and Beirut mansion to possess non-public objects. Ghosn then filed a wrongful termination suit against Nissan in Amsterdam in 2019, announcing he used to be dismissed from the carmaker’s Dutch unit and by a joint mission known as Nissan-Mitsubishi BV. The Dutch court later ordered him to repay $6.1 million in wages to Nissan and Mitsubishi, Reuters reported. Nissan in 2020 filed a $91 million civil lawsuit against Ghosn seeking to “enhance a critical phase of the monetary damages inflicted on the firm by its weak chairman because years of his misconduct and unfounded sigh,” Bloomberg reported. That suit is quiet pending, as are the prison charges he faces in Japan for underreporting compensation.
