Prosecutors Claim That a Saudi Businessman Helped Carlos Ghosn in Misconduct

Prosecutors Claim That a Saudi Businessman Helped Carlos Ghosn in Misconduct

Tokyo’s prosecutors brought new crime report against Carlos Ghosn ex-chairman of Nissan. Currently, the lawyers claim that Mr. Carlos used the company’s funds to pay a Saudi businessperson. Additionally, the Saudi entrepreneur would have assisted him out of financial difficulties. Mr. Carlos arrested for a third time on Friday. At that time, he was claimed to breach of trust and underreporting his salary. He also has a claim to transfer personal investment losses to Nissan, the carmaker. Although, the statement from prosecutors stated that around October 2008, Mr. Carlos was trying to do a settlement with the losses. The on-paper loss suffered on a swap contract with an anonymous bank cost $16.6 million.

However, a person helped Ghosn to organize a letter of credit at that time. After that, a company under the management of the person obtained $14.7 million in Nissan’s funds. According to the records, the payment was paid in four installments between the period of 3 years, i.e., 2009-2012. The persecutors’ statement said that the installments were made in the favor of Mr. Carlos and the person. This behavior of Mr. Carlos indicates that he disobeyed the company’s rules and trust. Additionally, his move imposed damage on the assets of Nissan.

According to some sources in the company, the person who helped Mr. Carlos in misconduct is a Saudi businessman. He is Khaled Al-Juffali, vice chairman of one of Saudi Arabia’s largest conglomerates, E. A. Juffali and Brothers. In addition to this, Khaled is a board member of the Saudi Arabian Monetary Authority. He also owns significant shares of Al-Dahana. It is a company with a joint venture of Nissan Gulf and Nissan Motor. Now, the release of Mr. Carlos seems very difficult. On the other hand, another person accused helping Mr. Carlos released on bail. You are right, Greg Kelly, got a belated Christmas gift. But, immediately after the bail, he went to the local hospital for treatment of chronic neck problem.

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