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Prosecutors to argue involvement of two Japanese in Ghosn pay scheme

Nissan Motor Co. former Chief Operating Officer Toshiyuki Shiga during a press preview at the company's headquarters in Yokohama. (AFP)
Nissan Motor Co. former Chief Operating Officer Toshiyuki Shiga during a press preview at the company's headquarters in Yokohama. (AFP)
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09 Sep 2020 03:09:27 GMT9
09 Sep 2020 03:09:27 GMT9

Arab News Japan

Tokyo: Prosecutors are planning to argue that in addition to an American executive, who faces charges, two Japanese officials from Nissan were also involved in helping Carlos Ghosn hide a large part of his pay.
 
The local Asahi Shimbun Daily quoted “investigative sources” on the matter, reporting that Toshiyuki Shiga, a former chief operating officer, and Itaru Koeda, a former adviser, helped devise a way to disguise Ghosn’s full remuneration.
 
The two were reportedly not indicted because investigators determined they were not directly enough involved. However, the American former director, Greg Kelly, faces charges for his involvement and will stand trial next week. He is expected to plead not guilty. 
 
For his part, Shiga told reporters that he did not do anything illegal but would not comment further on accusations out of respect for the trial hearings. 
 
Carlos Ghosn, the former Nissan CEO who escaped to Lebanon while on bail, and Kelly were arrested for violating the Financial Instruments and Exchange Law by intentionally underreporting Ghosn’s pay to avoid public criticism.
 
Kelly allegedly made several suggestions as to how not to disclose the full remuneration of $159 million between 2010 and 2017, including by deferring a large chunk of the payment until after Ghosn’s retirement when he would serve the company in an advisory role.
 
Shiga and Koeda also allegedly offered this solution to Ghosn, which he opted for, as well as plans for how to record and confirm the deferred the income.
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