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Renault suspects Ghosn misused 11 mil. euros

In this May 23, 2019 photo, former Nissan Motor Co. Chairman Carlos Ghosn arrives at the Tokyo District Court for the first pretrial procedures in his financial misconduct case. (Kyodo)

PARIS (Kyodo) -- Renault SA said Tuesday former Chairman Carlos Ghosn possibly misused 11 million euros ($12 million) for his personal benefit, an investigation by its Amsterdam-based joint venture with Nissan Motor Co. has found.

The French automaker said its own board confirmed "the existence of deficiencies" at Renault-Nissan B.V. -- the joint venture overseeing the French-Japanese alliance -- including inappropriate air travel expenses for Ghosn and gifts to nonprofit organizations.

The 65-year-old former auto tycoon faces charges of financial misconduct in Japan, but denies all allegations.

Renault and Nissan will start legal action in the Netherlands over Ghosn's "extra costs of air travel and other expenses," and explore the possibility of recovering gifts made to some of the nonprofit organizations, the French automaker said in a statement.

According to local media, prosecutors in France launched a probe in late May into consulting fees paid by Renault-Nissan B.V. to former French Justice Minister Rachida Dati. The preliminary investigation followed a complaint by an individual Renault shareholder over misuse of company funds.

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