Nissan charged with fraud by Japanese prosecutors,
Nissan, Carlos Ghosn & Gordon Kelly, Charged With Corporate Fraud
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The downfall of the Renault, Nissan, Mitsubishi empire has begun. The arrest of Carlos Ghosn and his co-accused, Gordon Kelly, is the beginning of the end of the formidable union. Like all empires of the past, it will crumble from within before its foundations are so eroded that it will collapse from its own weight. The weight of greed and excess lingers for those who seek it, and Carlos Ghosn has been drawn to it like a moth to candlelight.

As of now the former Nissan-Mitsubishi CEO, Ghosn resides in a cold Japanese prison cell, complaining of a diet of rice. His stay has been extended after Japanese prosecutors charged Ghosn and Gordon Kelly for misstating salaried compensation in financial filings. Prosecutors are also seeking to charge Nissan which could amount to a $6m fine for aiding and abetting Ghosn. As for Ghosn, the charges are very serious. In the US or Europe, he would get away with such a crime with a slap on the wrist. Being charged means that Japanese prosecutors have very strong evidence against Ghosn. Japanese prosecutors accuse the CEO of hiding around $80m in compensation over an eight-year period. Prosecutors are also targeting luxury apartments Ghosn purchased with corporate funds. Ghosn is seeking to recover personal belongings from an apartment in Copacabana, Brazil. The $3m apartment resides in an exclusive area and was purchased under the guise of Nissan. The existence of the apartment only came to light when Nissan carried out an audit after Ghosn’s arrest. Nissan is blocking attempts for any persons to access the apartment in a legal filing submitted to a Brazilian court. The apartment is said to contain works of art, cash, jewelry, and three safes. A defense lawyer appointed by Ghons to counter the move made by Nissan in Brazil has denied the existence of the three security safes. The apartment is one of several bought for Ghons using corporate funds. Naturally, the arrest and detention of Ghosn have caused diplomatic tensions between France and Japan. Now that Ghons has been formally charged it is only a matter of time before the break up of the Alliance begins. Ghosn was the glue that held it all together and ultimately caused it to collapse.  
 Nissan charged with fraud by Japanese prosecutors,
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