Carlos Ghosn to be arrested in Japan on suspected financial law breach, removed as Nissan chairman

Carlos Ghosn to be arrested in Japan on suspected financial law breach, removed as Nissan chairman

According to a report by Asahi Shumbun, Carlos Ghosn could be arrested in Japan after the Nissan chairman was questioned over suspected under-reporting of his corporate salary by several hundreds of millions of yen.

The (suspected) crime is a violation of Japan’s Financial Instruments and Exchange Law, and the authorities have already begun searching the offices of Nissan’s headquarters and other locations.

Nissan has since issued a statement saying that it would promptly remove Ghosn from his positions as chairman and representative director at Nissan, with Nissan CEO Hiroto Saikawa set to propose the matter to Nissan’s board of directors.

Also on the chopping block is Nissan representative director Greg Kelly, who was discovered to be “deeply involved” in reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount.

Carlos Ghosn to be arrested in Japan on suspected financial law breach, removed as Nissan chairman

The Japanese carmaker said it had been conducting an internal investigation over the past several months regarding misconduct involving Ghosn and Kelly, with information being supplied to the Japanese Public Prosecutors Office.

Ghosn, who relinquished his roles as Nissan president and CEO last year, is currently a chairman at the Japanese carmaker, as well as at Mitsubishi. He is also the chairman and CEO at Renault and the Renault-Nissan-Mitsubishi Alliance.

The French national was largely credited for the turnaround of Nissan from near bankruptcy and his radical restructuring of Renault between the late 90s and early 2000s.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Mahmood Razak on Nov 19, 2018 at 6:40 pm

    Wow this is shocking news. Had the pleasure of a one-on-one interview with the man in my media days. He knew his stuff well and you cannot but credit the Nissan turnaround to him.

    Like or Dislike: Thumb up 17 Thumb down 0
    • Ini Bumi on Nov 20, 2018 at 9:33 am

      Japan Co. society not condone any misconduct. according to rule of law …

      Like or Dislike: Thumb up 18 Thumb down 1
      • Paderi Don Juan Monte Rezal on Nov 20, 2018 at 12:21 pm

        It’s all money matters, bitter hard truth.

        Like or Dislike: Thumb up 14 Thumb down 0
        • Syukur Malaysia masih aman. Malaysia best country in the Asean ,

          Like or Dislike: Thumb up 14 Thumb down 1
          • Edi John Rejang on Nov 21, 2018 at 8:05 am

            We must be thankful to Carlos. He actually saved Nissan from going bust

            Like or Dislike: Thumb up 1 Thumb down 0
        • John Minum Teh 8X on Nov 20, 2018 at 6:54 pm

          If like this, all the past CEOs of Proton also need to be arrested and charged.

          It took Li Chunrong 6 months to identify that the kroni Proton vendors were overcharging Proton and giving Proton low quality parts.

          This was the main and ony cause of PRoton’s downfall into banruptcy.

          It is hightime we charge ex PRoton CEOs and Management also. Government has spent over RM20 billion to bail Proton out, all monoies belong to the rakyat

          Like or Dislike: Thumb up 44 Thumb down 9
          • Kelantanese on Nov 20, 2018 at 7:04 pm

            is a business practice, where a company obtains a contract from the system and subcontracts it to another co

            Like or Dislike: Thumb up 12 Thumb down 0
          • hondaman on Nov 20, 2018 at 10:43 pm

            Charge the ex chairman too who is the current PM, ada berani??

            Like or Dislike: Thumb up 46 Thumb down 2
          • Shafee on Nov 21, 2018 at 8:45 am

            Dont compare Nissan and Proton. Nissan got no pemalas working in it.

            So you cannot compare both car companies

            Like or Dislike: Thumb up 1 Thumb down 3
          • najib on Nov 21, 2018 at 10:38 am

            Brani

            Like or Dislike: Thumb up 2 Thumb down 0
    • Raja Laut a/l Raja Gunong on Nov 20, 2018 at 12:39 pm

      Japanese in double jeopardy?
      Killing it’s Nissan biggest investor?
      Gonna file for bankruptcy soon…
      Maybe Renault jv with PRC carmakers?

      Like or Dislike: Thumb up 15 Thumb down 0
      • John Minum Teh 8X on Nov 20, 2018 at 7:00 pm

        Remember the time PRoton CEO told press conference than Iriz sales are so good and they could not keep up to orders that is 9 months long?

        Then few weeks later, Tun Mahathir come out later and say Iriz sales are so bad and the model is a flop.

        This also misrepresentation. I hope the law will lock cheaters andpeople who mislead the public

        Like or Dislike: Thumb up 29 Thumb down 6
        • nosushi on Nov 20, 2018 at 8:35 pm

          Meanwhile jepunis overlord basher here and dupes busy condemning P1, now see who is worse. I loled at them

          Like or Dislike: Thumb up 12 Thumb down 5
          • John Minum Teh 8X Penipu on Nov 20, 2018 at 9:30 pm

            Yeah, this goes from John Minum Teh 8X, who go and condemn for every user comments that wrote about good comments in every Proton articles

            Like or Dislike: Thumb up 9 Thumb down 6
          • Edi John Rejang on Nov 21, 2018 at 8:08 am

            Japan has high standards. We should emulate and follow their high standards

            Like or Dislike: Thumb up 0 Thumb down 4
        • Suhaimi on Nov 21, 2018 at 8:33 am

          Proton always lie about their sales numbers. Aiseh

          Like or Dislike: Thumb up 0 Thumb down 2
        • Leonardo on Nov 22, 2018 at 8:18 am

          Yeah, there’s one previous P1 Boss who claimed the Waja was same level as BMW. He did the most damage which P1 have never recovered.

          Like or Dislike: Thumb up 1 Thumb down 0
          • He did more damage to MY as well, and now he returns to do more damage.

            Like or Dislike: Thumb up 0 Thumb down 0
    • Benard on Nov 21, 2018 at 1:50 pm

      The jepunis just want the control of their company back. Proton, please remember this lesson well…

      Like or Dislike: Thumb up 3 Thumb down 0
  • EnergyAnalyst on Nov 19, 2018 at 6:51 pm

    Death and taxes is inescapable

    Like or Dislike: Thumb up 1 Thumb down 1
    • Thanos on Nov 20, 2018 at 11:59 am

      Ini saya setujui.

      luckily Nissan din buy Proton..

      Like or Dislike: Thumb up 6 Thumb down 0
    • John Minum Teh 8X on Nov 20, 2018 at 7:05 pm

      In Malaysia, many GLCs also got scandal and bailout. But got no prosecution.

      If follow the law, I think all GLCs will masuk jail by now.

      Somemore ours all multibillion ringgit bailouts.

      Like or Dislike: Thumb up 16 Thumb down 12
      • Kantoied but Still Wanna Defend on Nov 20, 2018 at 7:19 pm

        This is about Ghosn, nothing to do with GLCs here. Stop changing the topic like your leaders do so very often when caught with their pants down.

        Now what happen to those foreign CEOs that you were idolising?

        Like or Dislike: Thumb up 20 Thumb down 13
        • Aziz kautim on Nov 20, 2018 at 8:37 pm

          Cash is still king inescapable.

          Like or Dislike: Thumb up 8 Thumb down 2
        • John Minum Teh 8X is talking rubbish everytime on Nov 20, 2018 at 9:32 pm

          Bro, John Minum Teh 8X is always talking rubbish every time in every article

          Like or Dislike: Thumb up 14 Thumb down 8
        • Edi John Rejang on Nov 21, 2018 at 8:10 am

          Dishonesty and stealing need to stop. Japan is showing by example. Something Malaysia needs to learn about.

          Like or Dislike: Thumb up 1 Thumb down 1
        • Suhaimi on Nov 21, 2018 at 8:29 am

          Carlos inefficiency and laziness is the same laziness and inefficiency as our GLC. So what is the difference?

          Like or Dislike: Thumb up 2 Thumb down 0
        • Rahman Putra on Nov 21, 2018 at 8:38 am

          Malu betul Proton and MAS needed a foreign CEO to bail out and pulih balik the companies

          Like or Dislike: Thumb up 0 Thumb down 1
          • You must be a Frog Under the Coconut shell. Its common practice for many companies to have a foreign CEO to run their companies. Do read business news.

            Like or Dislike: Thumb up 1 Thumb down 0
        • Shafee on Nov 21, 2018 at 8:47 am

          Let us not talk about GLC here. GLC is full of pemalas. Ghosn and team are all hardworking

          Like or Dislike: Thumb up 0 Thumb down 1
  • Mario and Bros on Nov 19, 2018 at 7:04 pm

    What happen to Carlos Ghosen

    Like or Dislike: Thumb up 6 Thumb down 0
    • Y.Inamori on Nov 20, 2018 at 1:18 pm

      Japan on same path to clean nation. Arrest clamp down corruption and financial breach ..

      Like or Dislike: Thumb up 8 Thumb down 2
      • Safety First on Nov 20, 2018 at 6:53 pm

        Meanwhile they got caught for outright lying & cheating on a much more serious scale with Takata. They aren’t so clean nor following the rules after all.

        Like or Dislike: Thumb up 11 Thumb down 0
        • John Minum Teh 8X on Nov 20, 2018 at 7:02 pm

          Li Chunrong found out Proton vendors and suppliers have been cheating Proton left right and centre.

          It is time that Li Chunrong find new vendors and suplliers from China so that Proton can do well again

          Like or Dislike: Thumb up 5 Thumb down 13
        • Edi John Rejang on Nov 21, 2018 at 8:12 am

          Any form of cheating and corruption need to be checked. Japan and Malaysia have close ties. So we too must follow Japan style.

          Like or Dislike: Thumb up 0 Thumb down 1
      • Rahman Putra on Nov 21, 2018 at 8:36 am

        Malaysia and Japan on the path to cleaning their corrupted. Good for Japan and Goof for Malaysia.

        Like or Dislike: Thumb up 1 Thumb down 1
  • YB Albert on Nov 19, 2018 at 7:18 pm

    The filthy rich can become filthy greedy.Carlos..omg…eating sushi in Japanese jail? Unthinkable but happens,like our Birkin handbag specialist and rogue bandits.

    Like or Dislike: Thumb up 9 Thumb down 6
    • ironic them all tax-free .Unthinkable .

      Like or Dislike: Thumb up 6 Thumb down 0
    • Aik. Werent u praising him to hi heaven? What happen to ur foreign CEO? Looks like locals r better. Lolz!

      Like or Dislike: Thumb up 11 Thumb down 0
      • P2 Aminar Rashid r better ek

        Like or Dislike: Thumb up 5 Thumb down 6
        • Safety First on Nov 20, 2018 at 7:02 pm

          There is nothing to be proud of for selling many unsafe cars to the masses. Instead he should be ashamed.
          At least when DSZ went to Proton, he spearheaded the drive towards safer cars.

          Like or Dislike: Thumb up 12 Thumb down 0
          • erwin karim on Nov 20, 2018 at 7:52 pm

            Yes indeed true. Abd Harith , Mahaleel and to a certain extent, Madani also,

            Like or Dislike: Thumb up 4 Thumb down 0
  • Juika on Nov 19, 2018 at 7:38 pm

    Japanese will make sure justice is seen to be done as they have integrity, moral fortitude and all will be done swiftly and correctly.

    Like or Dislike: Thumb up 3 Thumb down 1
    • What about justice for Mitsu after they got played out by their Nissan partner then Nissan buying them out for cheaps when their stocks tumble?

      Like or Dislike: Thumb up 7 Thumb down 0
  • Hilang roti john on Nov 19, 2018 at 8:04 pm

    Habis la Nissan

    Like or Dislike: Thumb up 1 Thumb down 11
    • Hilang roti John Minum Teh 8X on Nov 20, 2018 at 9:36 pm

      Your user name is fake. Most probably your fake username obviously coming from original username known as John Minum Teh 8X

      Like or Dislike: Thumb up 9 Thumb down 1
  • qaogao on Nov 19, 2018 at 8:10 pm

    Didn’t know the Japanese work culture that they strike below the belt too..heeeyah!

    Like or Dislike: Thumb up 10 Thumb down 1
  • sad news….he turned around Nissan contributed greatly..

    Like or Dislike: Thumb up 5 Thumb down 0
  • Walao! Jepunis shud have learned from foreign CEOs but instead they threaten to jail them, now wonder they r on a downward spiral while China is going up rapidly.

    Like or Dislike: Thumb up 23 Thumb down 12
  • No worries Mr Ghosn. Geely is in need of high achieving pipu and companies. Let them Jepunis rot and decay, since they ditched u after being “save”.

    Geely, Ghosn, P1, Mesidis, VolvoCar, VolvoTrucks, Lotus > all

    Like or Dislike: Thumb up 13 Thumb down 5
    • Mario and Bros on Nov 20, 2018 at 11:11 am

      Wrong lah. Your last statement should be “Geely, Nissan, P1, Medicis, VolvoCar, VolvoTrucks, Lotus > all. Then your statement is correct. Bro Ghosn is not even brand of car manufacturer

      Like or Dislike: Thumb up 0 Thumb down 1
      • Ghosn & Nissan sudah divorce lor. Time for him to join the Empire.

        Like or Dislike: Thumb up 4 Thumb down 0
        • John Minum Teh 8X on Nov 20, 2018 at 7:04 pm

          Should get more China workers to come into Malaysia and run our GLCs. We can see much higher productivity then

          Like or Dislike: Thumb up 1 Thumb down 9
          • Yes. Jepunis shud have taken ur advice but look what happen. Oh wai…

            Like or Dislike: Thumb up 3 Thumb down 0
  • basherlogic on Nov 19, 2018 at 10:01 pm

    Some bashers praised this man before. Now pipu lol at him

    Like or Dislike: Thumb up 10 Thumb down 0
  • 2.6 billion endorsement guys.. on Nov 19, 2018 at 11:47 pm

    Woww..so amazing Ghosn…as ceo and chairman in several company still not enough…

    Like or Dislike: Thumb up 3 Thumb down 2
  • newme on Nov 20, 2018 at 1:41 am

    I think the financial law breach is just an excuse to cover the actual offence which is designing awful car like Nissan Almera.

    Like or Dislike: Thumb up 21 Thumb down 0
  • albag on Nov 20, 2018 at 8:16 am

    omg.. this is super shocking! i admire him so much but this news comes as a big hit!

    Like or Dislike: Thumb up 2 Thumb down 0
  • This is not the way to treat a foreigner who saved one of your iconic brand.

    Like or Dislike: Thumb up 7 Thumb down 2
  • Semi-Value (Member) on Nov 20, 2018 at 9:28 am

    japan lobbyist jealous of foreigner

    Like or Dislike: Thumb up 12 Thumb down 0
  • panjang on Nov 20, 2018 at 9:58 am

    Foreigners earning salary in an ‘alien’ country.
    Even Cristiano Ronaldo was hit by the same issue before.

    Just think, does these super high ranking personnel do all the declaration process themselve?

    No need to go that far… does a person from an establish local company do their income declaration themselves?

    Like or Dislike: Thumb up 6 Thumb down 0
  • wow…april’s fool joke came early for him?

    well, when they have so much money, they try to do other stuff to satisfy their needs, money no longer motivates them…Maslow’s hierarchy of needs ^^

    Like or Dislike: Thumb up 1 Thumb down 1
  • macampondan on Nov 20, 2018 at 10:31 am

    cialat. Next gen GTR isnin jeopardy

    Like or Dislike: Thumb up 0 Thumb down 1
    • tanampandan on Nov 20, 2018 at 12:30 pm

      Next gen GTR will be a sport hybrid car similar to honda cr-z, no more supercar performance.
      LOL

      Like or Dislike: Thumb up 4 Thumb down 0
  • I believe this is the beginning signs of a break up in the Renault-Nissan-Mitsubishi alliance. Looks like Nissan will detach itself from the alliance and maybe take Mitsubishi with them.

    Like or Dislike: Thumb up 3 Thumb down 0
    • Tao Foo on Nov 20, 2018 at 10:07 pm

      if Nissan got kicked out from alliance, most probably will follow Isuzu path making only commercial vehicles…

      Like or Dislike: Thumb up 1 Thumb down 1
  • C.P. MOHAN on Nov 20, 2018 at 7:18 pm

    ….Like to compare this to a political party President.

    Like or Dislike: Thumb up 1 Thumb down 2
  • lilytan on Nov 21, 2018 at 9:01 am

    Gaijin will always be gaijin

    Like or Dislike: Thumb up 4 Thumb down 0
  • pengguna proton kecewa on Nov 21, 2018 at 10:26 am

    yes!! no more Almera’s shitty design after this

    Like or Dislike: Thumb up 0 Thumb down 0
  • Like the saying goes ” Habis madu , sepah dibuang”. He saved Nissan from bankrupcy. Now Nissan is doing better than Renault , so the Japanese wanna take back the company and yank the gaijin out for good. Nice move there Nissan.

    Like or Dislike: Thumb up 2 Thumb down 0
    • manmin on Nov 21, 2018 at 4:42 pm

      both companies are on the brink of bankruptcies before being saved by Carlos Ghosn. With Nissan being the bigger companies than Renault, yet Renault have controlling stakes in Nissan, in turn Nissan have non controlling share in Renault. If we observe on the model offering and tech, Renault have the upper hand while on the sales side, it was Nissan that have bigger market share than Renault.

      Like or Dislike: Thumb up 1 Thumb down 0
  • Wei Keong Chu on Nov 24, 2018 at 5:51 pm

    Never liked Nissan because of their philosophy of making cars, i.e. profit over customer’s safety. Just look at their Almera – plain ugly and seriously lack of modern safety features. Even the current generation of Peroduas and Protons fared did better.

    Like or Dislike: Thumb up 0 Thumb down 0
 

Add a comment

required

required