Nissan has released a statement confirming it has been indicted in Japan alongside its former chairman Carlos Ghosn for “making false disclosures in annual securities reports”.
The news comes after the Japanese automaker’s board of directors in November 2018 “voted unanimously” to discharge Ghosn as chairman and representative director.
An internal investigation had earlier revealed the 64-year-old was involved in “misconduct” over “many years”. The probe also implicated representative director Greg Kelly, with both men having been arrested in Japan.
In the latest statement, Nissan confirmed Ghosn and Kelly had been “indicted for violating the Japan Financial Instruments and Exchange Act, namely making false disclosures in annual securities reports”.
“Nissan, as a legal entity, was also indicted for the same violation,” the firm added.
“Nissan takes this situation extremely seriously. Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret.
“Nissan will continue its efforts to strengthen its governance and compliance, including making accurate disclosures of corporate information,” it said.
Original article from Car