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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

Carlos Ghosn vows to 'restore my honor' in first remarks since arrest

TOKYO — Nissan Motor's jailed ex-chairman, Carlos Ghosn, vowed to restore his good name in court after a month in detention, Japanese public broadcaster NHK said on Friday. "Things as they stand are absolutely unacceptable," Ghosn was quoted as saying via his lawyer. "I want to have my position heard and restore my honor in court." It was Ghosn's first comment since his arrest on Nov 19 for allegedly understating his income by about half over a five-year period from 2010. He was later charged with the same alleged crime covering the past three years. A call to the office of his lawyer, Motonari Otsuru, went unanswered outside business hours early on Friday. The lawyer has previously declined to return calls for comment on the Ghosn case. A Tokyo court on Thursday unexpectedly rejected prosecutors' request to extend Ghosn's detention, which Japanese media said means he could go free on bail as early as Friday. Ghosn wants to hold a news conference after he is released, NHK quoted his lawyer as saying. The executive, who formed a carmaking alliance among Nissan, Mitsubishi Motors Corp and France's Renault SA, said he is not a flight risk and wants to be able to travel abroad, the report said. The Ghosn case has put Japan's criminal justice system under international scrutiny and sparked criticism for some of its practices, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations, which can last eight hours a day. Japan has also come under fire for its 99.9 percent conviction rate. The Tokyo court unexpectedly ruled not to extend Ghosn's detention. It said it had also decided against extending detention for Greg Kelly, a former Nissan executive who was arrested along with Ghosn on Nov. 19. It later overruled an appeal by prosecutors against the decision, clearing the way for the possible release of the two men as early as Friday. The court did not disclose reasons for its decision, and NHK said it was "extremely rare" for it to reject the prosecutors' request to extend detention. If Ghosn and Kelly are granted bail, conditions may require them to apply for permission to travel overseas. They could also be barred from contacting Nissan officials. Both executives had not been able to make any public statements since their arrest, although local media have reported that they have denied wrongdoing. Ghosn was indicted on Dec.

F1 champ Nigel Mansell is selling Mitsubishis in Jersey

Formula One drivers have a pretty short shelf life, so when they're done racing in grands prix, retired pilots can have a whole second career ahead of them. Jody Scheckter, for example, runs an organic farm. Niki Lauda started an airline. Most move on to other racing series, provide television commentary during race broadcasts, or start their own racing teams. But not Nigel Mansell: he's got a Mitsubishi dealership. Situated on Jersey – not New Jersey, but the British channel island – Mansell Mitsubishi is run by Nigel and his son Leo. It grew out of the service station the Mansells opened fourteen years ago, and out of the Mansell Collection, a used car dealership based in an old Art Deco movie theater, but recently expanded into selling new cars recently with the acquisition of a franchise. The Japanese brand may seem a bit of an odd choice, especially now that it's getting away from performance models and putting more emphasis on plug-in electrics. After all, Nigel won his 1992 Formula One World Championship in a Renault-powered Williams, before that raced for the likes of Ferrari and Lotus, and won the CART title on his debut season in a Lola-Ford. But the Mansells are adamant that they wanted a volume brand, not to deal with the high-priced exotics with which the name might be more readily associated. After all, there are only 100,000 or so people residing on the isle of Jersey, which wouldn't make for a very big customer base for high-end machinery. He and Leo (with whom he raced at Le Mans a few years back) even participated in a two-day training session for new franchisees, where few initially recognized the former champ. And they've got plans to expand as well. But the biggest draw may very well be the star factor, and the Mansells haven't shied away from playing it up, displaying memorabilia from Nigel's racing career around the showroom. After all, the prospect of being taken on a test drive by a former F1 champion may be enough to bring new customers into the showroom who might not have otherwise.