crime

Nissan probe into Ghosn turns to 'CEO Reserve' fund, Dutch unit

26 Comments
By Norihiko Shirouzu

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (c) Copyright Thomson Reuters 2018.

©2019 GPlusMedia Inc.

26 Comments
Login to comment

What world we live in? Some people can't afford simple things in life or work till after 10pm every single day. On the other hand finance department can't bother checking finances for about 1 million - peanuts - ha!

2 ( +2 / -0 )

It’s the old falling on your own sword to try and prove a point, a point that was flawed from the start. Nissan, what have you done? Think things through next time. If there is a next time! Brand is taking multiple sustained and continued hits. Surely someone must have foreseen the mellay; surely?

2 ( +2 / -0 )

NISSAN is gonna go bankrupt, will get restructured and renamed to GOSHN! LOL

That's how Stupid all this is turning into, Japanese like that western influence and lifestyle, MTV hip hop and jet setting look and appeal. But when it's time to be Japanese again watch out for that BUS!

2 ( +2 / -0 )

They cannot invite foreign executives to their houses (they live in small houses).

They don't need to invite you.

0 ( +0 / -0 )

As much as I love Nissan cars, I really hope they screw this up and got bankrupt.

2 ( +2 / -0 )

Average income of Japanese top of the major corporations is said to be one tenth of foreign companies. They cannot invite foreign executives to their houses (they live in small houses). In Japan, stock holders are not as strong as foreign companies. The companies exist for their workers first. Stock holders second. At Nissan, more than 200,000 Japanese work, several foreign executives cannot control and ignore them.

-3 ( +0 / -3 )

The role of two of Zi-A Capital BV's subsidiaries, Zi-A Capital Ltd in Dubai and Hamsa Holdings Ltd in the British Virgin Islands, are also being checked by investigators, one of the people with knowledge of the probe said.

British Virgin Islands? A little fishy smell coming out from Carlos Ghosn's drama.

-1 ( +0 / -1 )

I guess Carlos will also be speaking Japanese fluently once he finally gets out of Japanese prison.

-3 ( +0 / -3 )

Japan has long civilization than the west

Athens might like a word with you.

3 ( +4 / -1 )

I am afraid that the separation of Nissan and Renault is inevitable. There is a culture difference, and shock.

-6 ( +0 / -6 )

the CEO Reserve fund ? a signature of corruption !

yep like J Inc hasnt had its fair share of corruption and scandals over the years, Japanese are just as good at it as anybody else, except a bow and appology normally gets you off serving time in prison. I love how this "we Japanese are law abiding" excuse is still used even today. LMFAO

3 ( +4 / -1 )

Japan borrowed the system but we are Japanese. At the bottom, we are different.

corruption , tax avoidance, doesnt matter what nationality Japanese are just as good at it as anybody else.

4 ( +4 / -0 )

Japan borrowed the system but we are Japanese. 

"...and you gaijin are not" is the conclusion of that thought. With that exclusionary concept, Japan will find itself far behind in the world and (ironically) eventually under the complete control of the very foreigners they hoped to exclude.

7 ( +7 / -0 )

the CEO Reserve fund ? a signature of corruption !

-7 ( +0 / -7 )

Indeed, why would internal financial staff bother doing things like...checking finances.

5 ( +5 / -0 )

According to one of the people, the team is reviewing "a mountain" of receipts and other financial records to see if purchases of residences in Rio de Janeiro, Beirut and Paris as well as expenses such as a yacht club membership and a donation to a college had been approved and paid for properly.

Surely that responsibility will be on the finance departments concerned?

4 ( +4 / -0 )

Straws! Approved (by Nissan) and breaking the law are two different things. They should have had all their evidence BEFORE putting the guy in jail.

9 ( +9 / -0 )

@schopenhauer

Please explain your comments. “It comes from the differences of the systems of corporations and societies - Japan and the West. Japan borrowed the system but we are Japanese. At the bottom, we are different.”

How does being Japanese excuse you and the rest of the population from oversight the the rule of law in Japan?

Japan is part of the world but gets a pass on ethics and law?

8 ( +8 / -0 )

Japan borrowed the system but we are Japanese. At the bottom, we are different.

Sure you are. But their is corporate governance and justice. And for both there is common denominator in the developed world. Unless Japan wants to be counted in the same group as Indonesia, Thailand and China where corruption is systemic and justice arbitrary, it would be advisable to make reality chime with its aspirations.

6 ( +6 / -0 )

An internal investigation? How?

The article says “Why would (internal financial staff) go in and check one-million-dollar transactions in a subsidiary.

I certainly would. In the real world, a few of those make a big difference. That amount buys a lot of car parts, or even partial running costs for an assembly line.

If they don’t look at a US1M transaction, do they look at 100 1M transactions? 500 of them? When do internal safeguards kick into place?

Sounds like Nissan was keeping things from Ghosn long before they started the plan to frame him. Maybe he was set up to hide the numerous million dollar transactions that nobody decided to monitor.

5 ( +5 / -0 )

What's the betting that other corporate executives are doing the same thing? Perhaps there is a lot of shredding going on in offices all over right now!

6 ( +6 / -0 )

No one - the individuals charged, the companies, the Japanese government itself - is going to come out of this smelling good.

9 ( +9 / -0 )

It comes from the differences of the systems of corporations and societies - Japan and the West. Japan borrowed the system but we are Japanese. At the bottom, we are different.

-7 ( +1 / -8 )

Somebody please pass the popcorn!

The story gets better every day! :D

5 ( +6 / -1 )

Oh what a big surprise, !!!! "Zi-A Capital BV was registered in the Netherlands as a company by Nissan Motor on Dec. 10 2010 with Kelly and Ghosn named as two of four directors at the time. Ghosn, who was also CEO, left as a director on Nov 2, 2011, according to a company profile available with the Dutch Chamber of Commerce.

The role of two of Zi-A Capital BV's subsidiaries, Zi-A Capital Ltd in Dubai and Hamsa Holdings Ltd in the British Virgin Islands, are also being checked by investigators, one of the people with knowledge of the probe said.

Zi-A Capital BV is currently wholly owned by Nissan Motor Parts Center BV in the Netherlands, which is a unit of Nissan Automotive Europe SAS in France, which in turn is a wholly owned unit of Yokohama-based Nissan Motor. " Nissan looks no different from what all big corporations do to avoid tax liabilities . Exp: look how much Apple had offshore, plus Amazons tax problems in the EU, only two examples, so don't lets shed a tear for Nissan, they as a company were complicit in fulling knowing and participating in tax avoidance. So Gosen was supposed to be a fall guy, in a power struggle, and now the can of worms has been fully opened, how sad when there must be so many other at Nissan with full knowledge of what was going on.

9 ( +11 / -2 )

Continue to deflect away from auditors, CFO, accountants.. picture should read ' Nissan Zero Intelligence Mobility'

6 ( +8 / -2 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites