Nissan Chairman Carlos Ghosn Arrested for Under-Reporting Salary: Reports
*By Carlo Versano*
The chairman of Nissan Motors was arrested following a whistleblower report that he had under-reported his compensation and used company assets for his personal benefit, according to [reports](https://www.japantimes.co.jp/news/2018/11/19/business/corporate-business/nissan-motor-co-president-carlos-ghosn-facing-arrest-charge-not-reporting-full-salary-report/#.W_LBVehKiUk) in Japanese media. The arrest follows a [statement](https://nissannews.com/en-US/nissan/usa/releases/regarding-serious-misconduct-by-nissan-chairman-and-one-representative-director) from Nissan confirming that it was investigating "serious misconduct" by Chairman Carlos Ghosn and another high-level official.
The company said it would seek to remove Ghosn from his position.
Ghosn was appointed CEO of Nissan in 2001 following his successful efforts to restructure the French auto giant Renault, and transitioned last year into a role as board chairman. He also serves as chairman and CEO of Renault, as well as chair of Nissan of Mitsubishi, through a unique corporate alliance between the three automakers. Ghosn is widely credited with saving both Renault and Nissan from bankruptcy.
The extent of the misconduct allegations, or the arrest charges, were unclear as of Monday morning. Ghosn had been under investigation following a report that he had lied about his salary in Tokyo Stock Exchange disclosures with the help of Greg Kelly, a board director.
In a statement, Nissan added:
"Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly's deep involvement has also been confirmed."
Ghosn had been criticized for his salary of about $9 million ー exorbitant by Japanese standards.
Astronauts will have to wait until next year before flying to the moon and another few years before landing on it. NASA on Tuesday announced the latest round of delays in its Artemis moon-landing program.
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
