Renault alerts prosecutors to Oman dealer payments under Ghosn

by SpeedLux
Carlos Ghosn Renault-Nissan

Renault has notified French prosecutors to payments made to a Renault-Nissan business partner in Oman under former CEO Carlos Ghosn, two sources informed Reuters.

This comes after an internal investigation by the French automaker after Ghosn’s November arrest in Japan for suspected financial misbehavior at its alliance partner Nissan.

Renault’s inquiry has confirmed it paid out millions of euros referred as dealer incentives to Omani distributor Suhail Bahwan Automobiles (SBA) during five years from around 2011, the sources, who were detailed on the findings, stated.

Nissan earlier established that its own regional subsidiary made questionable payments of over $30 million to SBA.

However the information sent to French prosecutors previous week shows that much of the cash was then channeled to a Lebanese firm controlled by Ghosn associates, the two sources stated.

The total sum paid by Renault is in the double-digit millions, one stated.

“We categorically deny the allegations of potential embezzlement in Oman,” Ghosn’s French lawyer Jean-Yves Le Borgne stated, refusing further discussion.

Renault spokesman Frederic Texier refused to comment, where as the French financial prosecutor’s office did not reply requests for comment and SBA could not be reached for comment.

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