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Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.

Watch Formula Drift Championship leader Chris Forsberg drift a 1975 Datsun 280Z

Chris Forsberg won the Formula Drift Championship in 2009, was in the catbird seat to win it last year until the final race of the season and started this year's season with a win at Long Beach. That is how he can be provide the example for Clarion USA's tagline, "Dream like a champion."
In this three-minute video for the audio components manufacturer, Forsberg gives up the race suit for a corporate suit, then takes time out of his commute to think about what he'd rather be doing. In a 1975 Nissan 280Z with a turbocharged 2.0-liter Skyline RBDET20 engine. We're sure this has never happened to any of you before.
You can watch how dream begins - and suddenly ends - in the video below.

Here's how to follow this weekend's 24 Hours of Le Mans

In the pantheon of motorsports, the 24 Hours of Le Mans stands as one of the great endurance challenges to man and machine. This year's event in France already looks to be one for the ages with Porsche setting record-breaking times in practice and the competition debut of Nissan's front-engine, hybrid racer. Thankfully, there's a massive list of ways to follow this automotive attraction. Reilly Brennan, the Executive Director of the Revs Automotive Research Program at Stanford University, and a friend of Autoblog, has once again assembled a helpful couch-kit to organize many of the options. Unfortunately, the old-school way of just turning on the television might be the most frustrating way to watch Le Mans this year. Fox Sports 1 and 2 are carrying about half the race, but the coverage bounces between them seemingly at random. The broadcast begins on Fox Sports 2 at 8:30 AM Eastern ahead of the 9:00 AM start and lasts there until 12:00 PM. Things don't pick up again until 7:00 PM Eastern on Fox Sports 1 for an hour, and the channels swap back and forth more from there. The Fox Sports Go streaming app offers more, but even it stops showing the race a few times. Thankfully, streaming Le Mans is easy. If you can't dedicate 24-hours on the couch, Radio Le Mans lets you listen to audio commentary anywhere with some of the best announcers in the biz. The Automobile Club de l'Ouest, the governing body for the race, also offers an official video stream in an app for $9.99. For a really low-tech solution, the official Twitter is another choice. Brennan is keeping his list updated with coverage changes. You can also check out and download the spotter's guide (from Nissan) in the gallery above. Enjoy this year's race. If you miss anything, don't worry; expect a full report from Autoblog. In fact, editor-in-chief Mike Austin is attending Le Mans this year, so follow him on Twitter for on-the-fly impressions. Featured Gallery 2015 24 Hours of Le Mans Spotter's Guide News Source: Reilly BrennanImage Credit: Nissan Motorsports Audi Nissan Porsche Toyota Hybrid Racing Vehicles