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New allegations against Ghosn concern payments to Saudi businessman

BEIJING – Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker. The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen ($16.6 million) incurred on a swap contract he had with a bank which it did not name. A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests. "By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly. According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority. He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor. Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers. Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment. Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia. Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust.

2014 Nissan Juke Nismo RS priced from $26,120*

We'll admit, we're quite excited about the Nissan Juke Nismo RS, especially now that its price has been revealed. For $26,120, you can get the sharpest, sportiest Juke outside of the over-caffeinated, 545-horsepower Juke R.
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The Juke Nismo RS boasts an extra 18 hp and 26 pound-feet of torque over the 197-hp Juke Nismo, thanks to things like a new exhaust. The big, must-have feature, though, are the Recaro thrones fitted in the front of the RS. As we said when the hot Juke debuted in LA last year, the seats alone may be worth upgrading to the RS model.

Carlos Ghosn's son predicts surprises at ex-Nissan chief's day in court

PARIS — The son of former Nissan chairman Carlos Ghosn said in an interview published Sunday that people will be surprised when his father, detained since Nov. 19 for allegedly falsifying financial reports, recounts his version of events to a Tokyo court on Tuesday. Anthony Ghosn, 24, told France's Journal du Dimanche that his father — who will remain detained until at least Jan. 11 — will get 10 minutes to talk at the hearing, being held at his own request. "For the first time, he can talk about his version of the allegations against him," Anthony Ghosn said in the interview with the weekly paper Journal du Dimanche. "I think everyone will be rather surprised hearing his version of the story. Until now, we've only heard the accusers." The son has no direct contact with his father, and gets information via lawyers. He said his father, who for decades was a revered figure in the global auto industry, has lost about 10 kilograms (22 pounds) eating three bowls of rice daily, but he reads books and "he resists." Ghosn refuses to cave in, said his son, contending that he would be freed from detention if he admitted guilt to the prosecutor. "But for seven weeks, his decision has been quite clear ... He won't give in," Anthony Ghosn said, adding that he would be wearing prison clothes and handcuffs in court. Countering media portrayals, he insisted his father, a Brazilian-born Frenchman of Lebanese ancestry, is "not obsessed by money." "He always told us that money is but a means to help those you love, but not an end unto itself." Ghosn is charged with underreporting his pay by about 5 billion yen ($44 million) in 2011-2015, and faces a breach of trust allegation. He led Nissan Motor Co. for two decades and helped save the Japanese automaker from near bankruptcy. He remains head of France's Renault car company, which owns 43 percent of Nissan. Another Nissan executive, Greg Kelly, was arrested on suspicion of collaborating with Ghosn on the underreporting of income and was freed Dec. 25 on 70 million yen ($635,600) bail after more than a month in detention.Related Video: