Jump to content
Create New...
  • William Maley
    William Maley

    Rumorpile: Nissan's Probe Into Ghosn Expands Into Other Subsidiaries

      Primarily focusing on those in Europe. Plus, the relationship between Nissan and Renault becomes further strained.

    Nissan has expanded its probe into former chairman Carlos Ghosn with the investigation into various European subsidiaries that may bring more criminal charges.

    Automotive News has learned from sources that the focus of the investigation will be around the Renault-Nissan BV based in the Netherlands. This was set up by the two automakers back in 2002 to be a strategic management company that oversees the alliance. But one source says that Nissan is planning to look into "as many as a dozen other Nissan-affiliated subsidiaries set up in the Netherlands," for possible financial misconduct. Japanese prosecutors are looking into some of the companies with the help of Nissan.

    Quote

    Also still under investigation is Zi-A Capital BV, another Netherlands-based entity Nissan set up in 2007 as a venture capital company. The company was flagged by Nissan auditors who could not find evidence of venture investment, a person familiar with the case said. Zi-A instead seemed to be paying for real estate that Nissan now claims was acquired for Ghosn’s personal use.

    The subsidiaries were established in the Netherlands, partly because it was seen as a kind of neutral territory between Japan and France. The Netherlands also has lower tax rates than Japan and more relaxed rules governing the disclosure of executive compensation.

    (Emphasis mine.)

    This move may signal that the scandal may have reached outward of Japan and bring investigations right to Renault's doorstep. Automotive News also notes this could "further complicate" the delicate relations between the two.

    That neatly transitions us to a report from Reuters where a source reveals that Renault has told Nissan not to contact its directors ahead of a December 13th meeting of their board. The source says "such contact was outside the agreed channels for communication of the sensitive findings."

    As we reported back on Friday, Nissan offered Renault "a presentation that summarized the evidence" to help assuage some suspicious held by the French automaker. Renault declined, asking Nissan for the "presence of lawyers and the full report on the allegations." This reportedly came earlier this week as officials from Nissan met with Renault's legal team in France.

    The meeting tomorrow will see the members of the board discuss the findings of Nissan's investigation and debate the future of Carlos Ghosn.

    Spokespeople for Nissan and Renault declined to comment.

    Source: Automotive News (Subscription Required), Reuters

    Edited by William Maley

    User Feedback

    Recommended Comments



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Posts

    • Watched the MH 370 documentary a few nights ago.  Very interesting story, still so much unknown about the why and what happened....
    • (Resharpens knife for next bubble popping)   And "YES" to the rest of your post. I am just tired of the fanboy logic being thrown out there without even a lick of simple research and data to back up said "logic".    For crying out loud, go ahead and price a Chevrolet SS right now. They sold for $50K new and I routinely see those sell for that price with more than 30K miles on them. Lower mile examples go for even more. His logic is easily flushed down the toilet with a simple google search.   Even the Camaro ZL1 has staying power and 20 years from now, it will continue to go higher with the Camaro ceasing production and being a low production trim itself.  
    • This is good stuff, I am glad Ford is expanding and helping the push to eV, the faster we go all EV and EV costs come down the better.  Also it is good they are investing the education side, because this country as a whole needs more people in Manufacturing, auto repair, auto body repair and trades in general.  We kind of got away from making things here and a lot of the people doing trade jobs are older, once they retire we are screwed if there aren't young people doing it too. 2 million EV's by 2026, Tesla is already there.  GM and Ford will probably have a good battle for #2 EV maker, what I don't see from Ford is the volume vehicles outside of F150, which the Lightning as it now is far outsold by the ICE version.  Mach-E isn't a volume product, Ford needs the $30k Escape EV that can sell huge numbers.  Lincoln is a dead brand, you aren't getting volume there.  Ford could do well with pickups and vans for the commercial market.
    • @surreal1272 Common Man, your popping his conspiracy bubble of false narrative about pricing on items that are not Tesla or Mercedes AMG Fan boy crazy prices cause an American Company has built auto's that are collectors items. 🤣 Here is just a portion of what I found in my neck of the woods and I see no price reduction like SMK is saying.
  • Who's Online (See full list)

This is the Call To Action(CTA)

×
×
  • Create New...

Write what you are looking for and press enter or click the search icon to begin your search