police just does its job. If there is a crime or suspicion of a crime, they investigate
0 ( +2 / -2 )
there is a investigation going on in France about this case, it was brought by Renault
But Ghosn's fan club here will still shout these are fake accusations etc...
the evidence is piling up
and I doubt the jury will be convinced of Ghosn's innocence... A long time in jail is probably what awaits him, as well as years and years of dealing with the judicial system all across the world
0 ( +4 / -4 )
she is young beautiful and intelligent !
5 ( +6 / -1 )
the odds were stacked against Karpeles but he escaped with a light sentence. A real miracle
This kind of sentence is the best that Ghosn can hope
1 ( +4 / -3 )
yes you are right . Read my when as "if/when"
but the probability is very high. As you know, in Japan 99% of accused people end up with a "guilty" verdict.
And from what we can read in the newspaper, Mr Ghosn arguments are not very convincing to me, so i doubt they will convince the jury. That is just my opinion, but the odds are definitely stacked against Mr Ghosn even if his new lawyer has a very good track record.
0 ( +1 / -1 )
Of course the properties belong to Nissan (through an obscure subsidiary based in the Netherlands), and not to Ghosn. But he had the full private usage.
It seems you like the French TV. In French the name of such a crime is "ABUS DE BIEN SOCIAL"
I don't know the translation in English or in Japanese.
-2 ( +0 / -2 )
makes no sense to you now
and it will still make no sense to you when he gets sentenced. I bet it doesn't make sense at all for Mr Ghosn as well. He thought he was doing the same as all other CEOs and it would be ok for him.
But I can ensure you that for most other people it does make a whole lot of sense
Funny to see so many Ghosn supporters trolling here. If you go into the comment sections in other international news site, in France for example, the tone is largely different from here...
-1 ( +1 / -2 )
Of course Ghosn didn't confess, as it would 100% mean a long sentence in jail while now he still has a very slim chance of avoiding this fate. If you are convicted of anything in this country i recommend you not to confess and not sign any paper.
Regarding your question about what happened at Nissan, If your boss tells you to sign some piece of paper, or you will get fired, (he might not say it directly but you get the message) what would YOU do ?
-4 ( +1 / -5 )
i do agree that Ghosn shouldn't have spent 108 days in jail. The Japanese judicial system is archaic.
That doesn't make Mr Ghosn innocent. It is very likely Mr Ghosn will be found guilty. Maybe not on all counts because he was operating in gray areas, it will be difficult to PROVE some things in front of a jury, but there are so many counts, he would be very lucky to get the walk-out-of-jail free card.
Why did the prosecutors want a confession from Mr Ghosn ? because thats what they do with every one accused of anything of this country. This is not personal against Mr Ghosn. You may not like the way justice work in this country. Many of us don't, and I don't like it either. But again, the prosecutors attitude is a very weak argument for arguing that Mr Ghosn is innocent.
In France, a preliminary investigation has just been opened and he might be charged as well in a near future. This has nothing to do with Japan hating Mr Ghosn and all to do with Mr Ghosn misdeeds everywhere he went.
-7 ( +0 / -7 )
many comments saying something like, Ghosn only took a little bit of money, he made billions for the company, it is normal, all other CEOs do the same and they are not in prison.
It does seem the judges are not doing their job in other cases, but it is a weak argument to believe Ghosn shouldn't and won't be declared guilty. He stole millions to the company and the tax office, - misled investors and perhaps more importantly breached their trust. We see a lot of people going to prison for stealing a few apples in supermarkets as well.
-9 ( +0 / -9 )
The notice did not give specifics, but sources familiar with the investigation have pointed to fancy homes in Lebanon and Brazil, as well as expensive furnishings such as a chandelier.
I am sorry but this is disinformation. Ghosn's French lawyer has indicated to the French media that those accusations are baseless. For the simple reason that those homes are actually 100% owned by Nissan not Ghosn. So the question is how can be accused to have used company money to buy personal properties that are actually fully owned by Nissan? This accusation seems just complete nonsense.
non-sense to you. LOL I doubt the jury will think the same than you do.
He could use company money to buy properties for his private use because he was the all-powerful CEO surrounded by yes-men. Because you either say yes - or you lose your bonus, your pay raise, your position, and/or your job.
Nobody else in the company ever used those properties, Mr Ghosn brought a lot of his own belongings, made expensive renovation work inside, and those properties were in non-strategic locations for the company (but of high personal interest to Mr Ghosn, in Brazil and Lebanon his 2 home countries), and it could not have an investment value for the company as well given the price paid.
This is an advantage in nature and should have been disclosed as part of his income, both to Nissan shareholders in the annual reported as it is mandatory to report director's full income, and to the relevant tax authorities.
TLDR Mr Ghosn is in trouble and he knows it, thats why you don't see any photos of him smiling even he is out.
-7 ( +1 / -8 )
Seriously it is normal that Shareholders oust Ghosn ? Is there any single company in the world who, given the choice, would like to have a CEO which has been indicted, is facing criminal charges which could mean 10 years in jail ?
He also 108 days in prison, the company could run without him. He lost track of what is going on in the company and Saikawa took control of everything, putting his own men everywhere. Even for Ghosn supporters it is not realistic to put him back in charge. He should focus on preparing his defense and fully enjoying his time out with his loved ones before he serves time.
-7 ( +0 / -7 )
funny to see 90% of comments here pro-Ghosn.
While the guy has most probably used the company's cash as if it was its own and diverted some extra millions in his pocket because he thought the millions he already had were not enough for him.
He's going to have a very difficult time trying to convince the judges of his innocence.
-3 ( +0 / -3 )
just a preliminary investigation, but soon Ghosn might not be welcomed in France
Apparently he is not suspected of crimes / frauds only in Japan, but everywhere he goes.
-1 ( +0 / -1 )
the more ugly part of course was about hiding losses - in said bank
-1 ( +2 / -3 )
i'm sorry for you
i KNOW how work corporations, i used to report directly with the CEO of a bank (basically i was #3) and i can tell you that said-CEO could do anything he wanted as he was surrounded by Yes-men only. including moving billions off-balance sheet in investments only a handful of people knew each a little bit about, none knowing exactly the whole story besides him.
Of course none of this was in the annual reports, and the auditors didn't see it or didn't want to see it.
Btw thats why i didn't stayed too long in that bank because its either you shut up and do what you're being told, or you decide to leave.
-2 ( +2 / -4 )
He wasnt just kicked out of Nissan and Mitsubishi, but of Renault as well.
You seem not to be aware but he was caught dirty handed with Renault as well, that was enough not to remove him from his functions but to deprive him of all his Renault-related deferred pension/bonus payments...
If he didn't do anything bad, it wouldn't have happened to him. He could consider himself lucky if he is not sued and convicted in France as well because there is huge pressure from the public.
Its a very good thing that Ghosn is free. He should never have been imprisoned for so long before his trial.
But it would be also a very good thing that IF he is guilty (which I believe is very likely), he spends a long time behind the bars.
Let's recall some facts:
CG failed to report about his deferred income. I'll let the judges decide the legal meaning, as there were effectively some CONDITIONS attached to effectively earning the money. CG for his defense said it wasn't his money because it was never in his bank account. He will then have trouble convincing the judge of this theory when trying to explain why he "hedged" in the forex market exactly the deferred amounts or salaries/bonuses.
CG lost money on his "hedges" and used Nissan to cover up for it. Fortunately in the end it didn't cost the company "officially" although this is probably already illegal. And then Nissan paid more than 10M$ to the guy who took over the trade. What exactly did the guy do to earn those 10m $ ?
CG made a subsidiary of Nissan whose purpose was to invest in startups, buy properties for his exclusive usage. He also probably never disclosed this "real income"CG made Renault Sponsor the Chateau de Versailles which in return graciously offered him to use the premises for his daughter's wedding..
and thats only what we've been told so far
CG might think having an army of lawyers will help him get scot free. Like a lot of people in his position, he's been trying to outsmart the system to make a few extra millions because he thought he deserved more than the millions he was already paid. The problem with playing with fire is that you can get burnt
I would be very very surprised if with all this mess, he isn't going to get imprisoned for at least a few counts among this. Perhaps not the maximal 10 years but a few years in prison plus heavy fines is probably what he will get.
-7 ( +2 / -9 )
I wonder how many steaks Ghosn ate yesterday
I think he won't ever eat rice again LOL
-1 ( +6 / -7 )
I hope he can fully enjoy his time outside because after that, he's gonna spend 10 years in prison
-18 ( +2 / -20 )
he is out , good.
now he needs a fair trial, and a fair sentence, for all his bad deeds, and hopefully he gets the jail time that he deserves for all his crimes.
-5 ( +1 / -6 )
all of Carlos money is now useless where he is. The only way he can spend it on is on lawyers.
Lawyers love criminals, it makes them rich
-5 ( +4 / -9 )
now not only Ghosn will be in prison, but he will get out a poor man...
His wife had better divorce him before judges grab all their assets...
0 ( +0 / -0 )
Carlos is most probably guilty. Everyday it's getting worse for him as more of his criminal acts are unveiled. You can call it unfair because I guess 90%+ of CEOs of big firms are doing the same kind of things - and so he thinks he was entitled to do the same - and he will be the only one to pay, but that's certainly not an excuse for him, he'll have trouble explaining that to the judges.
I agree the case has exposed the total ridiculousness of the Japanese Judicial system, but Ghosn is not treated worse than other convicts.
As for the facts, if they are all true Ghosn will be behind bars for a long long time....
0 ( +0 / -0 )
Here is my 0.02 cents on this story. I have no special info, just reading internet articles:
1) Ghosn (obviously) has been a very good CEO if judged by financial metrics (the ones that matters for shareholders) or customers
2) He was "underpaid" among his vastly overpaid multinational CEO peers. I suspect that either a love of money, or more probably a strong ego who measured success by his money, pushed him to use his position at Nissan to maximize his payout, and go into all sort of "gray areas" to achieve this goal.
Using shell companies to buy very luxurious properties for his only personal use in locations which have no strategic importance for the group but high importance for him as it is his home countries (Brazil, Lebanon); while the purported goals of those companies was to do investments for the group...
Using company jets for his private use
Using [widely used for high executive expats working in Japan] schemes to delay payments to escape taxes and regulatory constraintsDoing all of the above abusing his CEO power and without relevant internal approval
3) regarding the FX story, this is "funny" fiasco. Ghosn wanted to be paid in USD but it wasn't possible according to Nissan rules. As he was doing financial planning, he used his own bank [Shinsei] to "hedge" those future USD payments with financial products but when Lehman crisis hit, USDJPY went below 80 and because his future pay [and thus hedge] was estimated to be so big, he was facing huge losses and margin calls which could have bankrupted him because he didn't have the funds yet (in the future only).
Thats a huge miss. Its like companies mining some metals, they usually don't go on the open market to sell 10 year of production on futures because the very exact same thing could happen to them and bust them [yep, it did happen a few times actually !]. Strange that it never occured to him it could happen and he took the gamble [that this tail-risk would precisely never happen] just to guarantee for him a few more millions $ (instead of billion yens)
Makes me question all his pre-supposed intelligence and savviness !
When hedge went wrong, he panicked, and used Nissan to cover the margin calls. Of course it has a financial cost (cost of capital, opportunity loss), of course it was a ridiculous situation to be in, and although i can understand Ghosn's reasoning that Nissan should feel they need to be grateful and help their genius CEO, Nissan is not a bank, and its very difficult for a public company to explain to their investors they need to make a personal to their CEO who lost money on what was a gamble, so he had to hide as much as he could all this mess
4) it is up to everyone to make his own opinion whether what Ghosn did was morally good or bad; and whether he deserves 10 year in prison compared to what some people committing violent crimes do.
However judges and prosecutors follow the letter of the law. I am no legal expert and have no idea whether what Ghosn did, but i'm pretty sure at least in some countries it would be mean some time in jail and probably unfortunately for him it will mean prison in Japan.
Acting in many gray areas, means taking a lot of legal risks, and now Ghosn's fate will be determined by technicalities
5) I'm not sure Ghosn IN PARTICULAR is taken as a special target by Japanese judges and prosecutors. Because of his fame, we have a lot of media attention, and we see in highlight how the Japanese judicial system works, a system where 99% of people indicted get punished, which either means a lot of innocent people are wrongly condemned OR that prosecutors only go after someone if they have a very very strong case [and I believe Japanese people trust their system and their prosecutors and thus most Japanese people believe Ghosn is rightly accused].
The prosecutors are abusing the system to keep him in jail to force a confession but Ghosn is not giving in.
6) I have sympathy for the guy because even if he did wrong, and even if he is guilty of 100% of what he is being accused , I don't believe he deserved this treatment, nor that he (morally) deserves 10 years in a tiny cold cell in a Japanese prison even if thats the letter of the law. This whole incident is showing how ridiculous the Japanese system can be, not to mention that the whole incident was driven by his rebellious colleagues/rivals and former accomplices at Nissan giving him to the cops and who so far are out of reach from the justice.
2 ( +6 / -4 )
does Lou-Lan still exist ? does anyone know some similar address ?
1 ( +1 / -0 )