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11 December, 2019 10:08:07 AM
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Nissan faces $22m fine for misreporting Ghosn pay

AFP, Tokyo
Nissan faces $22m fine for misreporting Ghosn pay

Nissan should be fined $22 million for filing documents that under-reported the compensation of former chief Carlos Ghosn, Japanese regulators recommended yesterday, with troubled the firm saying it would not dispute the penalty.

The Securities and Exchange Commission (SESC) made the recommendation as Ghosn, who was arrested in November last year, awaits trial in Tokyo on four charges of financial misconduct.

Among the allegations against him are claims that he under-reported his compensation from 2010 to 2018, deferring some of his pay and failing to declare it to shareholders.

Ghosn denies all the charges against him and has argued there was no final agreement on any deferred payments.

Nissan also faces charges over the alleged under-reporting of Ghosn’s income.

In a statement issued yesterday, the SESC said it had “examined the false descriptions in securities reports and other documents at Nissan Motors and as a result, a legislative violation was recognised”.

BK

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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