Carlos Ghosn Sues Nissan For $1 Billion
フランスの自動車メーカー、ルノーから贅沢なライフスタイル資金を集めたとして起訴された日産自動車元社長カルロス・ゴーン氏が、名誉毀損、名誉毀損、重要証拠の捏造を主張して日産を10億ドルで提訴したとロイター通信が火曜日に報じた。(English) Carlos Ghosn, the former head of Nissan who has been accused of funnelling money from French automaker Renault to fund his luxury lifestyle, has sued Nissan for $1 billion, claiming libel, defamation and the fabrication of material evidence, Reuters reported Tuesday.
Carlos Ghosn Sues Nissan For $1 Billion
//Summary -Level-C2//
Carlos Ghosn, former Nissan head accused of financial misconduct, is suing Nissan for $1 billion in Lebanon, claiming libel and defamation. He alleges Nissan executives plotted his arrest to block a merger and denies misusing company funds. Ghosn and his top aide, Greg Kelly, were arrested in Japan in 2018. Ghosn fled Japan in 2019, asserting innocence and accusing Nissan officials of colluding with prosecutors. Several court proceedings with Nissan include Ghosn's family suing and Nissan filing a $91 million civil lawsuit against him. Criminal charges for underreporting compensation are pending in Japan.
A)
1)
TOPLINE Carlos Ghosn, the former head of Nissan who has been accused of funnelling money from French automaker Renault to fund his luxury lifestyle, has sued Nissan for $1 billion, claiming libel, defamation and the fabrication of material evidence, Reuters reported Tuesday.
B)
2)
KEY FACTS
Ghosn, who fled Japan after he said Nissan and 12 connected people arranged for his arrest for financial misconduct, filed the lawsuit in his home country of Lebanon.
The lawsuit claims $588 million in lost compensation and costs, as well as $500 million in punitive measures, according to Bloomberg.
3)
Ghosn was arrested in Japan in late 2018 on charges he says were fabricated in a plot by Nissan executives to block a merger; he escaped the country aboard a private jet the following year.
The ex-CEO is accused of funnelling funds from the French automaker Renault through Oman-based vehicle distributor Suhail Bahwan Automobiles and using the money for purchases like a 120-foot luxury yacht.
France reportedly issued an international arrest warrant for Ghosn last year; he has repeatedly denied the misuse of company funds.
C)
4)
KEY BACKGROUND
Ghosn, who was hired by Renault in 1996, was the driving force behind the 1999 alliance formed between the French automaker and Nissan. He was named president of Nissan in 2000 and CEO in 2001. Mitsubishi was added to the partnership in 2017, and Ghosn served as the chairman and CEO of the Renault–Nissan–Mitsubishi Alliance until his arrest.
5)
Ghosn and his top aide, Greg Kelly, were arrested in Japan in November of 2018 and held for questioning over allegations of false accounting. Ghosn was fired from Nissan's board the same day, and Nissan chief executive Hiroto Saikawa claimed the pair underreported their pay, a violation of securities law, and used company money for personal use.
6)
Ghosn fled Japan in December of 2019 and has since doubled down on claims of his innocence, claiming Nissan officials colluded with Japanese prosecutors to have him arrested out of bitterness that Renault had too much influence over the company. Ghosn has accused the prosecutors of leaking false information to the press in a bid to ruin his reputation.
7)
Ghosn settled with the Securities and Exchanges Commission over $140 million of false financial disclosures to investors relating to his salary and benefits. Nissan and Ghosn settled without admitting or denying the SEC's allegations.
D)
8)
WHAT TO WATCH FOR
A Lebanese prosecutor has scheduled a court session on Sept. 18 to begin proceedings, Reuters reported.
9)
TANGENT
The $1 billion lawsuit is the latest in a series of court proceedings with Nissan and its ex-chief. The Ghosn family sued Nissan immediately following the arrest, after the company allegedly changed the locks to homes in Rio de Janeiro and Beirut, paid for with money from Nissan and Zi-A, the Wall Street Journal reported.
10)
Courts later granted the family access to their Rio apartment and Beirut mansion to collect personal items. Ghosn then filed a wrongful termination suit against Nissan in Amsterdam in 2019, saying he was dismissed from the carmaker's Dutch unit by a joint venture called Nissan Mitsubishi BV.
The Dutch court later ordered him to repay $6.1 million in wages to Nissan and Mitsubishi, Reuters reported.
11)
Nissan 2020 filed a $91 million civil lawsuit against Ghosn, seeking to "recover a significant part of the monetary damages inflicted on the company by its former chairman as a result of years of his misconduct and fraudulent activity," Bloomberg reported.
That suit is still pending, as are the criminal charges he faces in Japan for underreporting compensation.
//Postscript//
Carlos Ghosn was the president of the struggling Japanese automaker Nissan.
This is because the Japanese president could not make many Japanese employees quit.
Thanks to him, Nissan has improved its business and revived.
However, his actions were not well received by Japanese managers.
Because he was getting paid as high as in other countries.
And he was so successful that he became an object of jealousy.
So Japanese executives asked Japanese prosecutors for help getting Carlos Ghosn out of their company.
Japanese prosecutors have the most power in Japan.
99.96％ of the people they accuse are criminals.
The courts and the Supreme Court are not very strong.
In other words, they will make false confessions even if they wrongly arrest them.
I hope Carlos Ghosn will weaken the power of Japanese prosecutors, not just Nissan.
Carlos Ghosn Sues Nissan For $1 Billion
Carlos Ghosn Discusses Arrest, EVs, And $1B Lawsuit Against Nissan | FORBES INTERVIEW
https://www.youtube.com/watch?v=1g6zep8ffc0
Carlos Ghosn, the former CEO of Nissan who sensationally escaped a Japanese prison after being accused of funnelling money from French automaker Renault to fund his luxury lifestyle, joins "Forbes Newsroom" to discuss his new lawsuit against his former employer.
An Insider Revealed Nissan's Secrets, Then Faced Its Wrath
https://www.youtube.com/watch?v=MogExZ9NBVI
Nissan Motor Co.'s former top lawyer, who led an internal investigation into alleged financial misconduct by Carlos Ghosn, said he endured retaliation, demotions and even surveillance of his family after questioning the probe's integrity. Former Global General Counsel Ravinder Passi, speaking for the first time about the fallout from the arrest of Nissan's celebrated ex-chairman, describes a corporate culture rife with fear, intrigue and reprisals for those who step out of line.
Full Interview: Former Renault-Nissan boss Carlos Ghosn | CNBC International
https://www.youtube.com/watch?v=N1902qmZxX4
Talk with Carlos Ghosn in Lebanon (2020/3/6)
https://www.youtube.com/watch?v=L8Y8FyJrgvI
Interview with Attorney Hironaka, the "Not Guilty Contractor" who defended the Livedoor case (Part 1) [Junichiro Hironaka x Takafumi Horie]
https://www.youtube.com/watch?v=ET9Oaj4EXXk
https://www.youtube.com/watch?v=cGMhWMTK9Jo&t=6s
I want Nissan and its executives to take responsibility for robbing me of everything. Carlos Ghosn holds a press conference after receiving a $1 billion lawsuit
https://www.youtube.com/watch?v=f1I8SVHRAE4
Former Nissan chairman Carlos Ghosn, who now lives in Lebanon, and Nobuo Gohara, a lawyer who represents Ghosn in civil lawsuits, held a press conference at the Foreign Correspondents' Club on Jul. 18, 2023, and talked about Ghosn's intentions in the $1 billion damages lawsuit filed in Lebanon.
"Nissan has caused me irreparable damage," said Mr Ghosn, who attended the conference remotely from Lebanon, emphasising that the damages lawsuit filed in Lebanon seeks criminal punishment. He said Ghosn also hopes his rights will be protected through fair compensation rather than retaliation.
It was reported that Mr Ghosn filed a lawsuit against Nissan and former Nissan executives on May 18, seeking damages totalling more than $1 billion (approximately 140 billion yen). On this day, it was revealed for the first time that Mr Ghosn himself confirmed that he had filed the lawsuit and that it was a request for criminal punishment under Lebanese domestic law.
Regarding the civil lawsuit that Nissan filed against Mr Ghosn in February 2020 for damages of approximately 15.5 billion yen, Mr Gohara said that the case itself was highly unfair and that if Mr Ghosn's deferred compensation was a confirmed fact, as claimed by the prosecution,, Mr Ghosn naturally has the right to receive it. Nissan argues that even if Mr Ghosn has a claim for remuneration, he will be compensated because he will have a claim for damages of the same amount.
Mr Ghosn also responded to a reporter's question about fleeing to Lebanon on bail in December 2019. He reiterated his view that the escape was a legitimate act given that there was no prospect of a fair trial in Japan.
What's wrong with Japanese prosecutors?
https://honsuki.jp/pickup/38135/index.html
Carlos Ghosn: The Last Flight
https://www.imdb.com/title/tt15048602/
Film "Fugitive: The Curious Case of Carlos Ghosn" Trailer
https://www.youtube.com/watch?v=5MVpXodK11w
In 1999, businessman Carlos Ghosn took over as chief executive of Nissan Motor Co. and helped turn around the company's financial woes. He became the centre of attention in many domestic and international business publications but was arrested in November 2018 on suspicion of violating the Financial Instruments and Exchange Act. He was then repeatedly re-arrested and detained on different charges, and in December 2019, after a year without trial, he attempted to flee to Lebanon.
The sudden arrest and escape of a "charismatic businessman" made headlines worldwide. What happened behind the scenes? Through the testimony of many people involved and footage from the time, we will get to the bottom of this unsolved case that continues to attract worldwide attention.
Carlos Ghosn himself, the Japanese lawyer in charge of his defence, the prosecution, his boss, the former chairman of Renault, and the former Nissan Motor Co, Ltd employee still on trial for concealing executive compensation. Also, please pay attention to Ghosn's wife Carol's confessions about her feelings at the time of the incident.
Add info)
Why was Carlos Ghosn arrested? An easy-to-understand explanation of the process from his arrest to his escape
https://legalsearch.jp/portal/column/why-did-carlos-ghosn-get-caught/
Carlos Ghosn was born in Brazil in 1954.
He joined Michelin in 1978 and became President of Michelin North America some 20 years later. Renault then recruited him in France, where he became Senior Vice President.
Carlos Ghosn was sent to Nissan in 1999 to serve as Renault's senior vice president and was appointed COO. Nissan, which at the time had a massive deficit of nearly 700 billion yen, returned to profitability in just one year, earning praise from the world's business community.
What happened before Carlos Ghosn was arrested, lost all his posts and fled the country at the end of 2019?
In order not to forget the surprising incident of the suspect, who was released on bail, escaping surveillance and fleeing the country, we have summarised the details from Carlos Ghosn's arrest to his escape in an easy-to-understand way.
Story from the first arrest to escape:
The story of how business hero Carlos Ghosn became a fugitive after being arrested four times in just over a year and leaving all his key positions at Renault, Nissan and Mitsubishi Motors is like a film.
Nov. 2018: Ghosn is arrested for the first time on suspicion of violating the Financial Instruments and Exchange Act.
Nissan and Mitsubishi Motors remove Ghosn as chairman.
Dec. 2018: Mr Ghosn is arrested for the second time on suspicion of violating the Financial Instruments and Exchange Act.
Ghosn was arrested for the third time on suspicion of violating corporate law (Saudi route)
Jan. 2019: Ghosn resigns as chairman and CEO of Renault.
In March: Ghosn released on bail (guarantee of 1 billion yen)
In April: Ghosn was arrested for the fourth time on suspicion of violating company law (Oman route)
Nissan removes Mr Ghosn as director.
Ghosn was released on bail (500 million yen guarantee)
In June: Ghosn resigned from the board of Renault.
Ghosn resigns from the board of Mitsubishi Motors.
In Dec.: Ghosn secretly leaves Japan and flees to Lebanon in the Middle East.
Suspected violation of the Financial Instruments and Exchange Act:
Carlos Ghosn is found to have violated the Financial Instruments and Exchange Act by understating his director's compensation by 9.1 billion yen in his annual securities reports for the eight years from the fiscal year ended March 2011 to the fiscal year ended March 2018 and by intending to receive the understated compensation as unpaid compensation after his retirement.
Disclosure by the defence team:
There is no unpaid remuneration, and the income disclosed in the Securities Report is reduced, not a misstatement.
Add info No2)
ABOUT RENAULT
https://www.renault.com.eg/AboutRenault/Renault-history.html
1898-1918
Louis Renault and his brothers founded their company in 1898. They quickly made a name for themselves in motor racing notching up a string of wins with their small cars. The Renault factories adopted mass production techniques in 1905 and Taylorism in 1913. During the first world war, the company turned out trucks, stretchers, ambulances, shells and even the famous FT17 tanks that made a decisive contribution to the final victory.
1919-1945
Renault modernised its premises, starting the first production line at Billancourt in 1929. The firm tried to keep the lid on costs to weather the economic crisis. But social conditions deteriorated. Louis considered the second world war and the conflict with Germany a mistake, and he gave in to the demands of the German forces. As a result, Renault was nationalised in 1945, becoming the Régie Nationale des Usines Renault (RNUR).
1945-1975
Renault, now a national corporation, modernised its plants and built and bought new production sites. An attempt to conquer the US market failed, but Renault continued its international expansion. Success came with the 4CV, the first "small car for everybody", followed by the Renault 4 and Renault 5….The company then launched an upmarket model, the Renault 16, the first "voiture à vivre" (literally "car for living"). At the same time, the firm continued to achieve impressive results in rally racing.
1975-1992
The company continued to grow up to the early 1980s. The renewal of the range gathered pace with the launch of two upmarket models: Renault 25 and Espace. The brand made its mark in motorsports and entered Formula 1. But the company was losing money heavily. By initiating a drastic cost-cutting policy and refocusing on its core skills, Renault was back in the black in 1987.
1992-2005
Renault considered a merger with Volvo, but the project was dropped in 1993. Privatising the company in July 1996 marked a milestone in its history. Taking advantage of its newfound freedom, Renault took a stake in Nissan in 1999. The company continued to innovate and renew its range with vehicles, including Mégane and Laguna. Success in Formula 1 raised the Renault brand's profile. The Renault-Nissan Alliance consolidated its structure and continued to develop new synergies. With the acquisition of Samsung Motors and Dacia, Renault accelerated its international expansion. The launch of Logan was a vital part of the strategy to win emerging markets.
Add info No3)
Lawyer reveals ... 'Unknown circumstances' of Ghosn's overseas 'escape'
https://gendai.media/articles/-/113946?imp=0
On Jul. 18 2023, Carlos Ghosn, the former chairman of Nissan Motor Co. who was arrested for violating the Financial Instruments and Exchange Act, held a press conference from Lebanon, where he had fled. In addition to his civil lawsuit last month, he plans to file a criminal complaint against Nissan with local authorities.
At the press conference, defendant Ghosn said, ``The likelihood of receiving a fair trial in Japan was zero. Due to hostage justice, I could not see my wife or children. He criticised the Japanese special prosecutors and the court.
It's been almost two and a half years since Ghosn 'escaped' abroad in December 2019, hiding in an audio box while out on bail, and his anger shows no signs of abating. Why did the charismatic leader of Nissan have to flee Japan in despair? The lawyer reveals the "unknown circumstances".