WEATHER ALERT
Business tycoon Carlos Ghosn's rise, fall and dramatic escape is subject of new Apple TV+ series
Read full article: Business tycoon Carlos Ghosn's rise, fall and dramatic escape is subject of new Apple TV+ seriesCarlos Ghosn, the former rock star businessman who fell from grace and fled authorities smuggled in a music instrument box, is getting what his dramatic story deserves — a multi-part Apple TV+ documentary series.
Ex-Nissan exec Kelly wants boardroom, not criminal, trial
Read full article: Ex-Nissan exec Kelly wants boardroom, not criminal, trialNearly three years later, former Nissan executive Greg Kelly is still wondering why the questions that led to his arrest and trial in Japan weren’t simply taken up in the automaker's corporate boardroom.
Nissan CEO tells Tokyo court Carlos Ghosn had too much power
Read full article: Nissan CEO tells Tokyo court Carlos Ghosn had too much powerNissan Chief Executive Makoto Uchida has told a Japanese court that the company's former chairman, Carlos Ghosn, had held too much power, failed to listen to others, and stayed on for too long.
AP Interview: Lawyer says Kelly innocent of Ghosn pay scheme
Read full article: AP Interview: Lawyer says Kelly innocent of Ghosn pay schemeThe lawyer for former Nissan Motor Co.'s executive Kelly, said his client was merely trying to prevent Ghosn from going to a rival automaker. At the time, Kelly, then a Nissan executive vice president, was making good money, had a successful career and moreover, was a lawyer. “He talks like a lawyer, and he thinks like a lawyer,” Kitamura said. Kelly, according to Kitamura, was just working out ways to pay Ghosn after retirement, through consulting fees and arranging a “non-compete” to prevent him from going to a rival automaker. “That would be the last day Greg would stay in Japan,” Kitamura said.
Nissan ex-CEO tells Japanese court Ghosn's pay was too low
Read full article: Nissan ex-CEO tells Japanese court Ghosn's pay was too lowFormer Nissan Chief Executive Saikawa told a Japanese court Wednesday, Feb. 24, 2021, he believed the compensation for his predecessor Carlos Ghosn was too low by international standards, and so he supported Ghosns retirement packages to prevent him from leaving. An American, he has been charged with financial misconduct in failing to fully disclose Ghosn’s future compensation. Ghosn led Nissan for two decades, salvaging the Japanese automaker from the brink of collapse. In the cross-examination by Kelly's defense lawyer Yoichi Kitamura, Saikawa said the several documents he signed were not about Ghosn's unpaid compensation but for services after Ghosn's retirement. When asked why he signed the documents, Saikawa said he trusted Kelly.
Nissan stays in red ink amid pandemic, Japan criminal trial
Read full article: Nissan stays in red ink amid pandemic, Japan criminal trialNissan Motor Co. reported a 37.8 billion yen ($360 million) loss for October-December, bigger than the 26 billion yen loss racked up the previous year. But they still lag, at about a million vehicles for the quarter, down from 1.2 million vehicles a year ago. Chief Executive Makoto Uchida told reporters the annual sales forecast was lowered to about 4 million vehicles from an earlier 4.2 million vehicles. High-ranking people at Nissan, including Ghosn, were convinced his pay would come under criticism, according to testimony from several Nissan officials. AdJapanese prosecutors have argued the convoluted efforts to pay Ghosn without disclosing the full amount constitute a white-collar crime.
Nissan's Ghosn gone, American Kelly faces Japan trial alone
Read full article: Nissan's Ghosn gone, American Kelly faces Japan trial alone(AP Photo/Maya Alleruzzo, File)TOKYO His boss Carlos Ghosn escaped financial misconduct charges by fleeing the country, but another former Nissan executive is still awaiting trial in Japan: Greg Kelly. Kelly's trial in Tokyo District Court is to open Sept. 15, nearly two years after his arrest, and the same day he turns 64. Jamie Wareham, Kellys lawyer in the U.S., says a compensation agreement was never finalized. Tokyo Deputy Chief Prosecutor Hiroshi Yamamoto said the preparations for Kellys trial took a long time because of the massive amounts of evidence involved. Since Japan has no extradition treaty with Lebanon, its unlikely Ghosn will ever face trial.
Nissan's Ghosn gone, American Kelly faces Japan trial alone
Read full article: Nissan's Ghosn gone, American Kelly faces Japan trial alone(AP Photo/Maya Alleruzzo, File)TOKYO His boss Carlos Ghosn escaped financial misconduct charges by fleeing the country, but another former Nissan executive is still awaiting trial in Japan: Greg Kelly. Kelly's trial in Tokyo District Court is to open Sept. 15, nearly two years after his arrest, and the same day he turns 64 . If convicted of charges related to alleged under-reporting of Ghosn's income, Kelly could face up to a decade in prison. Jamie Wareham, Kellys lawyer in the U.S., says a compensation agreement was never finalized. Tokyo Deputy Chief Prosecutor Hiroshi Yamamoto said the preparations for Kellys trial took a long time because of the massive amounts of evidence involved.
Ghosn gone, other Nissan former executive set to face trial
Read full article: Ghosn gone, other Nissan former executive set to face trialSign of Tokyo District Court is seen where former Nissan Motor Co.'s executive Greg Kelly arrives for a pre-trial meeting in Tokyo Thursday, July 30, 2020. Former Nissan executive Kelly, who was arrested in connection with the financial scandal of his ex-boss Carlos Ghosn, will soon face trial in a Tokyo court. (AP Photo/Eugene Hoshiko)TOKYO Former Nissan executive Greg Kelly, who was arrested in connection with the financial scandal of his ex-boss Carlos Ghosn, will soon face trial in a Tokyo court. Ghosn has publicly denounced the allegations as groundless and accused Nissan officials of a conspiracy to oust him. While Kelly is asserting innocence, Nissan has acknowledged guilt, seeking to distance itself from Ghosn and Kelly.