Published 15:10 IST, February 12th 2020
Nissan files USD 90 mn suit against Ghosn
Japanese car giant Nissan on Wednesday filed a civil lawsuit to reclaim some 10 billion yen (USD 90 million) from former chairman Carlos Ghosn for what it called "years of his misconduct and fraudulent activity".
- World News
- 2 min read
Japanese car giant Nissan on Wednesday filed a civil lawsuit to reclaim some 10 billion yen (USD 90 million) from former chairman Carlos Ghosn for what it called "years of his misconduct and fraudulent activity".
The 65-year-old faces multiple charges of financial misconduct in Japan but fled to Lebanon before he could face trial. He denies any wrongdoing. Nissan said the damages had been calculated on the basis of the cost to the firm of Ghosn's "corrupt practices".
It accused Ghosn of "the use of overseas residential property without paying rent, private use of corporate jets, payments to his sister, payments to his personal lawyer in Lebanon".
It said the amount was likely to rise and added that the company would also seek to sue Ghosn for "groundless and defamatory remarks" he made when he briefed the media in Lebanon.
Once hailed as a corporate saviour for rescuing Nissan from the brink of bankruptcy, Ghosn was facing a trial in Japan over a series of alleged crimes, including under-reporting his compensation to the tune of around $85 million.
Ghosn spent more than 100 days in detention in Japan after his sudden November 2018 arrest, but launched an audacious escape plan while out on bail in Tokyo and managed to travel to Lebanon apparently undetected.
He believes Nissan turned on him because executives there were concerned he was moving the firm closer to French partner Renault, part of a three-way alliance with Mitsubishi Motors.
Updated 15:10 IST, February 12th 2020