Nissans third arrest on suspicion of underreporting 500 million yuan in salary

 Nissans third arrest on suspicion of underreporting 500 million yuan in salary

According to Kyodo News Agency, the special search Department of the Tokyo Local Procuratorate arrested Carlos Ghosn, the former chairman of Nissan Motor Company, on suspicion of violating the Company Law. This is the third time that Ghosn has been arrested. He is suspected of underreporting 8 billion yen (about 500 million yuan) in eight years.

According to previous Japanese media reports, the Tokyo District Court decided on the 20th that the detention of Ghosn and his prenatal representative director Greg Kelly should not be extended. The day of the 20th is the period of detention for the two men. Japanese media had previously said that if the defence lawyers bail application was approved, it might be the first time that Gorne was released on bail in about a month after his arrest. It now appears that bail is no longer available.

On November 19 this year, Mr. Ghosn was taken away by Tokyo police on suspicion of underreporting billions of yen in labor remuneration and violating the Financial Commodity Trading Act. Since then, Ghosn has been detained in a Tokyo prison.

Kelly was also arrested. Ghosn and Kelly are accused of conspiring to conceal Ghosns real salary for five years from fiscal 2010. It is reported that Ghosn concealed a total of 5 billion yen (about 300 million yuan) of income. Recently, the latest evidence shows that Ghosn has also underreported 3 billion yen (about 180 million yuan) in the three years since fiscal year 2015. That is to say, in the eight years to March this year, Ghosns total salary at Nissan was underreported by 8 billion yen (about 500 million yuan).

Japans financial crimes can be punished by up to 10 yearsimprisonment or a fine of $89,000. If the circumstances are serious, the two penalties can be applied simultaneously.

Source: Overseas Network Responsible Editor: Qian Mingxiao_NBJ10675