On Friday it was reported by BBC News that Carlos Ghosn would be facing two new charges in addition to the existing charge that has kept him under prosecution for months.
In fact, to show the extent of the widespread of this news, it has hit the deepest part of Africa as one of the leading sources of information in Nigeria reports this same news. The claims of this could be fully understood by citizens of this country used to poor leadership as is been faced by Nissan noted Leadership.
In fact, the auto tycoon is looking at a lot of time in jail as opposed to claims saying he would be out of jail soon as he was charged with additional financial misconducts by his prosecutors.
Prosecutors in Japan where he is being held in custody have indicted former Nissan chairman Carlos Ghosn with two new charges relating financial crimes.
Mr Carlos Ghosn, who has been detained in Japan since November, when he was first charged has now been charged with heightened breach of trust and playing down his income. However, he had already been accused of a separate charge which also has to deal with playing down his pay over five years. Mr Carlos Ghosn has however denied all wrongdoing even though his detention has drawn some criticism from the general populace. In the pursuit of his freedom, his lawyers said they would request for the bail of the auto-tycoon, but experts say this request is very unlikely to be granted. Unfortunately, having not dealt with the initial charge, according to his lawyers the newly pressed charges will most likely keep the 64-year-old auto-tycoon in prison until his first trial reported Leadership.
Carlos Ghosn’s fame has however grown having earned the name “The relentless cost killer.” Mr Carlos Ghosn initially charged with playing down his pay package for the five years to 2015 has however been accused again on Friday with a new charge claiming that he underreported his compensation for another three years.
Furthermore, he was also accused of a fresh and more serious charge of breaching trust. All of these revelations come as a shock as Mr Carlos Ghosn is known to be the architect of the Renault-Nissan alliance. However, this union seems to be more beneficial for him as he has been accused of moving private investment losses worth 1.85billion yen (£13.4million; $17million) racked up on overseas exchange dealings to Nissan.
Likewise, Mr Carlos Ghosn has also been accused of making a payment of $14.7m to Al-Juffali Khaled, a Saudi businessman. This payment was however made using the Nissan funds in exchange for organizing a letter of credit to help the businessman with his investment losses.
Mr Carlos Ghosn has first detained on Monday, 19th November and has since been rearrested twice in December. With further charges, if Carlos Ghosn is found guilty of the financial misconduct charges, Mr Carlos Ghosn could be looking at up to 10 years in prison. In addition to the years of imprisonment, he will be asked to pay a fine of up to 700m yen as well. The news of these possible punishments was made by Japanese regulators. However, Renault having performed a thorough audit finds ‘no fraud’ related to the auto tycoon. Following the arrest of Mr Carlos Ghosn, Nissan and Mitsubishi removed Mr Carlos Ghosn as chairman. On the contrary, Renault has kept him on a chair, saying Mr Carlos Ghosn has done no wrong as it has not yet found any evidence of illegal behaviour.
On Thursday, the board of the Renault said a careful study and investigation into the executives’ pay had not shown any signs of fraud.
“The review process has scrutinized the compensation paid to Executive Committee members of the Groupe Renault for the financial years 2017 and 2018. The results of this investigation have however caused the firm to conclude that it is both in agreement with applicable laws and free from any fraud” Renault said in a statement.
However, there will be no stop to the review process as it will continue taking into consideration the previous financial years.
The auto-tycoon seems to be suffering a lot of defaming to his name even though his hero status was such that his life was serialized in one of Japan’s well-known cartoon comic books. Also, the Brazilian-born auto tycoon of Lebanese descent and also a French citizen once said his background gave him a feeling of being different. This he claims has helped him to adapt to new cultures he has found himself in. In France, he popularly referred to as “Le Cost Killer”, a comment which stems from the deep cuts he made to revive Renault. In fact, he was once tipped to be a potential president of Lebanon. Although he eventually dismissed such claims saying he had “too many jobs” already. Back in 2011 in a poll conducted on potential rulers of Lebanese, he came seven in front of Barack Obama.