Nissan to be indicted,

Japanese prosecutors will press charges against the car maker Nissan in the ongoing investigation into the suspected under-reporting of salaries by the company’s former chairman Carlos Ghosn.

Putting inaccurate declarations in an annual report is an offence for which corporations can be held liable, in addition to anyone involved, Japan’s financial newspaper Nikkei reported. Charges could be framed against Nissan – as a company –tomorrow for failing to stop its officials from furnishing fabricated for years.

It is likely that the company and two former executives will be indicted over misstatements and misreporting of earnings in the five annual reports leading up to the fiscal year ending March 2015.

Mr Ghosn and the company’s former representative director Greg Kelly have been detained since November 19. Prosecutors must take a decision about framing of charges, freeing or rearresting them on new claims tomorrow, when their detention duration ends.

Mr Ghosn, who has spent two decades at Nissan, was detained in Tokyo on accusations of under-reporting his income for years and misusing company funds. The 64-year-old has denied the allegations, according to Japanese broadcaster NHK.

Mr Ghosn is accused of contriving to undervalue his income by about half of the actual ¥10 billion yen (Dh325.8 million) over five years from 2010 and Mr Kelly is blamed for assisting him, according to Reuters.