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The head of the Board of Directors of Renault-Nissan-Mitsubishi arrested for violation of financial legislation

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The head of the Board of Directors of the Renault-Nissan-Mitsubishi Alliance Carlos Gon was arrested by Tokyo prosecutors for alleged financial violations in Japan. Gon is suspected that he understated his income on the financial statements.

In a statement published on the portal of Nissan, it is reported that Carlos Ghosn for several years indicated incorrect data on their premiums in the reports for the Tokyo stock exchange. Also in the document it is specified that gon used assets of the organization for the personal purposes. Another top Manager of the company, Greg Kelly, is suspected of involvement in the violations, NTA reports.

Nissan explains that the offenses became known after an internal investigation. His results were transferred to the Prosecutor General of Japan.

The President of the company Hiroto Saikawa intends to demand that the Board of Directors sent the defendants in the case to resign.

By the way, Carlos Ghosn is known as a Manager who was able to save Renault from collapse in the late 90-ies of the last century.

Renault shares fell sharply in Paris and fell by 5.5% in early session trading, among the most successful shares in Europe.

Gong, a rare foreign top Manager in Japan, was highly regarded by the company for helping to bring Nissan out of a situation close to bankruptcy. Born a Brazilian, of Lebanese descent, and a French citizen, he began his career at Michelin in France by moving to Renault. He joined Nissan in 1999 after Renault bought a majority stake and became its CEO in 2001.