Ghosn Borrowed 30 M. Dollars from Oman Distributor in 2009

Society

Tokyo, April 4 (Jiji Press)--Former Nissan Motor Co. <7201> Chairman Carlos Ghosn borrowed some 30 million dollars in 2009 from the founder of a distributor in Oman that is suspected to have been used to funnel Nissan funds to Ghosn, informed sources said Thursday.

A memorandum signed by Ghosn on the debts was found at a condominium in Tokyo that was used by him, after he was arrested in Tokyo in November last year for alleged financial misconduct, the sources familiar with the investigation by public prosecutors said.

At least some 32 million dollars was sent from the Japanese automaker to the distributor, and the funds may have been used to repay Ghosn's debts, the sources said.

According to the sources, Ghosn borrowed the money in January 2009 at a time when he is believed to have been facing financial difficulty due to huge losses from his financial derivatives trading following the global financial crisis of 2008.

The payments from Nissan's so-called chief executive officer reserve to the Omani distributor started in 2012, about three years after Ghosn borrowed the money. During the three years, Ghosn may have been given a moratorium on repaying his debts, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press