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Japan Tax Unit Says Ghosn Tapped Nissan Funds
Japan’s National Tax Agency reportedly ruled that former Nissan Motor Co. Chairman Carlos Ghosn spent $1.4 million of company funds on his own behalf.
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Japan’s National Tax Agency ruled that former Nissan Motor Co. Chairman Carlos Ghosn spent $1.4 million of company funds on his own behalf, according to the Yomiuri newspaper.
Sources tell the Japanese newspaper that Ghosn misappropriated 150 million yen of Nissan funds between 2011 and 2014 to pay his sister for bogus consulting work and to make a hefty donation to a university in Lebanon for no apparent business reason.
Ghosn deducted the spending as a corporate expense. But Yomiuri says the Tokyo Regional Taxation Bureau later ordered Nissan to pay a penalty on the amount, which it deemed a private-use expenditure.
The newspaper emphasizes that the incident isn’t part of multiple criminal charges of financial wrongdoing leveled against Ghosn, but says the matter does buttress Nissan’s claim that he misused corporate funds.
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