Nissan Sues Ghosn for Damages

Economy

Tokyo, Feb. 12 (Jiji Press)--Nissan Motor Co. <7201> said Wednesday that it has filed a lawsuit against former Chairman Carlos Ghosn with Yokohama District Court, seeking 10 billion yen in damages.

The Japanese automaker claims that it has suffered massive financial losses due to Ghosn's concealment of his pay, misappropriation of its funds and other misconduct.

The company's claim for damages is expected to swell in light of a fine to be imposed on the automaker over the misstatement by Ghosn of executive pay in financial reports, Nissan said.

Ghosn fled Japan for Lebanon late last year while on bail awaiting trial on charges of financial misconduct. He claims he is innocent of the charges.

Nissan said that the initial amount it is seeking was calculated mainly on the basis of Ghosn's use of corporate jets and foreign residential property for which he did not pay rent as well as payments to his sister, who did not work for the automaker.

[Copyright The Jiji Press, Ltd.]

Jiji Press