Ghosn used Nissan money for private use says Japan tax agency

by SpeedLux
Carlos Ghosn Renault-Nissan

Japan’s tax authorities have found former Nissan Motor CEO Carlos Ghosn used company funds for private use, bolstering the automaker’s case that he diverted corporate funds for personal benefit, the Yomiuri reported on Tuesday.

The Japanese newspaper, without mentioning sources, stated the National Tax Agency found Ghosn used Nissan money for several years to pay consultant’s fees to his sister for fictitious work and to make donations to a university located in Lebanon.

Ghosn holds Lebanese nationality. He is awaiting trial in Japan on charges of financial misbehavior, which he rejects.

The automaker has recorded about 150 million yen ($1.4 million) as secretary’s office expenses for three years through March 2014. However the agency ordered Nissan to pay tax on the amount following the judgment that the expenditure was for private usage and should not have been deducted as expenses from corporate income, the Yomiuri reported.

While none of the findings have led to a criminal case, it supports Nissan’s allegation that Ghosn inappropriately used the company’s money, the newspaper stated.

A tax official informed Reuters that the agency could not discussion about the individual cases. A Nissan spokeswoman stated the automaker was figuring out the newspaper report.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.