Nissan chief charged over £65m pay row

NISSAN’S ousted boss has been charged with financial misconduct after allegedly hiding up to £65m of earnings to dodge tax.

Carlos Ghosn could face up to ten years in prison and a fine of £4.9m if found guilty.

The 64- year- old was also arrested again on further charges of misreporting his pay at the car maker, meaning he can be kept in custody for more questioning and now faces Christmas in a Tokyo jail.

Ghosn’s lawyers claim the charges are invalid because they do not relate to his salary, but future payments coming his way after retirement.

It is a steep fall from grace for the Brazilian-French-Lebanese tycoon, who took Nissan from near-bankruptcy to one of the world’s most powerful car makers after merging it with French rival Renault.

The businessman – nicknamed Le Cost Killer in France for his aggressive cutbacks – won the hearts of the Japanese public and even had a comic book written about him.

He was forced to quit as Nissan chief executive when the accusations were first made last month and was also kicked off the board of its partner Mitsubishi Motors, but is still chief executive of Renault.

Rumours are rife in Tokyo that Ghosn’s sacking followed a boardroom bust-up about plans to tie Nissan even more closely to Renault, with which it has a partnership agreement and already shares many operations. He was arrested alongside fellow board member Greg Kelly over claims they conspired to hide how much the chief executive was earning for the five years to 2015.

This led to charges yesterday against the pair. They have also both been re-arrested as police investigate whether they sought to hide Ghosn’s pay for the three years from 2015 to 2018.