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Police Search Renault HQ in Ghosn Probe
French police searched Renault SA’s headquarters outside Paris earlier today as part of an investigation into possible misuse of company funds by former Chairman Carlos Ghosn.
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French police searched Renault SA’s headquarters outside Paris earlier today as part of an investigation into possible misuse of company funds by former Chairman Carlos Ghosn.
Reports say officials also searched one of Ghosn’s homes outside Paris.
Last month, French authorities launched a tax investigation into Ghosn’s personal finances. French prosecutors also had opened a probe three weeks earlier into payments made by Renault-Nissan BV, the Dutch holding company that manages the Renault-Nissan-Mitsubishi alliance. Ghosn was RNBV’s chairman at the time.
Bloomberg News says the latter investigation involves questioned payments to Suhail Bahwan Automobiles, the sole distributor of Renault and Nissan cars in Oman. A separate RNBV audit flagged €11 million ($12.4 million) in Ghosn expenses for nonbusiness-related trips to such events as the Cannes film festival and Rio de Janeiro’s Carnival.
Ghosn has denied any wrongdoing and has been largely thwarted in his efforts to explain himself publicly ahead of his trial later this year.
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