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Reports Link Saudi Businessman to Ghosn Allegations
The Saudi businessman believed to have helped former Nissan Motor Co. Chairman Carlos Ghosn resolve personal financial losses reportedly is Khaled Al-Juffali, vice chairman of the Saudi Arabian Monetary Authority.
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The Saudi businessman believed to have helped former Nissan Motor Co. Chairman Carlos Ghosn resolve personal financial losses is Khaled Al-Juffali, vice chairman of the Saudi Arabian Monetary Authority, according to media reports.
The reports suggest that Al-Juffali stepped in with a letter of credit to help Ghosn cover a personal loss in 2008 of more than $16 million. Prosecutors believe Al-Juffali was rewarded for his help through a series of payments totaling $14.7 million that were made between 2009 and 2012 by an internal discretionary fund controlled by Ghosn, according to the reports.
Sources tell The Japan Times that Ghosn opted for the scheme after Japan’s Securities and Exchange Surveillance Commission said it would be illegal for him to transfer his losses directly to Nissan.
Ghosn’s lawyers insist the payments were to pay for legitimate lobbying efforts on behalf of Nissan in the Middle East. They say the work was performed by a 50:50 joint venture between affiliates of Nissan and an Al-Juffali company, according to the newspaper.
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