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SEC inquiry compounds Nissan woes

  • January 29, 2019

Nissan Motor Co. Ltd. said Monday it was the target of a U.S. Securities and Exchange Commission inquiry, widening a scandal involving the Japanese firm and its ousted Chairman Carlos Ghosn over his alleged financial misconduct. Ghosn, first arrested on Nov. 19 in Japan, has been charged with failing to disclose more than $80 million in additional Nissan compensation for 2010-18 that he had arranged to be paid later.

Ghosn, swiftly dismissed as Nissan chairman after the arrest, has denied wrongdoing.

The report, citing sources, said the SEC is examining whether the company maintained adequate controls to prevent improper payments and whether lapses by Nissan violated U.S. securities law.

A Nissan spokesman confirmed the automaker received an inquiry from the U.S. regulator, without giving further details.






Article source: http://www.dailystar.com.lb//Business/International/2019/Jan-29/475253-sec-inquiry-compounds-nissan-woes.ashx

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