Ghosn charged with misconduct

Former Nissan chairman Carlos Ghosn has been charged with financial misconduct. Japanese prosecutors have accused him of under-reporting his pay package over a five-year period.

He has also been re-arrested on further allegations of under-stating his pay, which is likely to keep him in detention until 30 December.

Carlos Ghosn has previously denied the accusations. His defence team say the accusations are invalid because they do not relate to his salary, but to future payments that he was expected to receive after retirement.

Nissan said, ‘Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret.’

If convicted, the charges could mean up to 10 years in prison.

Carlos Ghosn is the man responsible for bringing the Nissan-Renault Alliance together, before adding Mitsubishi in 2016.

Both Nissan and Mitsubishi sacked him after his arrest last month, while Renault has appointed a temporary deputy chief executive.

All three companies say they are still committed to the alliance.