Nissan chief faces formal police charge

Japanese prosecutors were considering whether to file formal charges against Nissan Motor Co.’s chairman Carlos Ghosn amid an inquiry into allegations he misused company assets and underreported millions of dollars of income.

The arrest of Ghosn after a whistleblower disclosed the alleged misconduct left many in Japan stunned by the downfall of a relentless cost-cutter.

Prosecutors said they were holding Ghosn, 64, for allegedly collaborating to falsify securities statements and for underreporting $44.6 million (£34.7m) of his income from 2011-15.