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Ghosn indicted on additional charges including aggravated breach of trust

TOKYO -- Prosecutors indicted former Nissan Motor Co. Chairman Carlos Ghosn on Jan. 11 on new charges of aggravated breach of trust under the Companies Act for allegedly shifting his personal investment losses to the company.

The special investigation unit of the Tokyo District Public Prosecutors Office further charged Ghosn, 64, and former representative director Greg Kelly, 62, with violating the Financial Instruments and Exchange Act for underreporting Ghosn's remuneration in financial statements from fiscal 2015 to 2017.

With the latest move, Ghosn and Kelly have been indicted for all the cases for which they were arrested. While Ghosn remains behind bars, Kelly was released on bail late last year.

Ghosn and Kelly were arrested by the special investigation unit on Nov. 19 on suspicion of failing to report some 5 billion yen of the former chairman's remuneration in financial statements for fiscal 2010 to 2014, and indicted on Dec. 10 over the matter.

Ghosn is also accused of shifting approximately 1.85 billion yen in investment losses he suffered himself to Nissan in October 2008. The massive losses were generated from a contract over derivative transactions that his asset management company had concluded with a bank.

(Japanese original by Kenji Tatsumi, Kazuhiro Toyama and Kim Suyeong, City News Department)

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