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Nissan and Former Chairman Carlos Ghosn Indicted in Japan

Video Credit: Newsy Studio - Duration: 01:07s - Published < > Embed
Nissan and Former Chairman Carlos Ghosn Indicted in Japan

Nissan and Former Chairman Carlos Ghosn Indicted in Japan

Carlos Ghosn reportedly understated his earnings by more than $44 million over a five-year period ending in 2015.

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Nissan and Former Chairman Carlos Ghosn Indicted in Japan

Nissan and its former chairman Carlos Ghosn were charged Monday with violating Japanese financial law.

Ghosn was  arrested in Tokyo  back in November for allegedly underreporting his income.

He reportedly  understated his earnings  by more than $44 million over a five-year period ending in 2015.

Another former Nissan executive, who prosecutors say collaborated with Ghosn,  was also indicted  Monday.

Japanese prosecutors said they're looking into allegations that the two men also underreported Ghosn's income between 2015 and 2017.  Nissan confirmed the charges and  said in a statement  that it "takes this situation extremely seriously." Ghosn was  removed as chairman  from both Nissan and Mitsubishi Motors.

As of early Monday, he's managed to hang on to his leadership positions at the French automaker Renault.

But it's appointed other people to temporarily take over his day-to-day duties.

If convicted, Ghosn faces up to 10 years in prison and a fine of almost $89,000, while Nissan could  reportedly be fined  as much as $6.2 million.

Additional reporting from  Newsy affiliate CNN . 



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