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Signature Of Former Nissan Chairman Ghosn & A Nissan Official Found In Deferred Pay Paper

Signature Of Former Nissan Chairman Ghosn & A Nissan Official Found In Deferred Pay Paper
According to a report published in the Japanese newspaper The Asahi Simbunm, the signature of former Nissan Chairman Carlos Ghosn and that of a senior official at the company’s secretary’s office can be seen in the documents pertaining to an agreement between the Japanese car manufacturer and Ghosn for deferment of nearly half his remuneration.
Citing a source, the report states that the senior official name din the report is reportedly cooperating with the authorities in Japan to unravel the truth behind the allegations that the former chairman had under reported his pay package as documented in the financial statements of the company for years which were submitted with the Tokyo Stock Exchange which fall under the plea bargaining system which was introduced in Japan earlier this year.
According to the alleged documents that form the basis of the Ghosn’s arrest, about 2 billion yen ($17.7 million) was the reportedly the annual pay package for Ghosn wven though only about half it was actually paid while the rest of the amount was deferred.
The documents also state that this system o payments for Ghosn was agreed to by the executive and the company when he had joined the company back in 1999 where in he was entrusted with the job of turning around the fortunes of the Japanese automaker which was facing bankruptcy at theta time. 
The report quoted sources as saying that one of the documents highlighted 2011 as the date of creation listed his remuneration for fiscal 2009 and fiscal 2010. But another document showed 2013 to be the date of creation which showed his income for fiscal 2011 and fiscal 2012.
The signatures of Ghosn and the senior official at the secretary’s office are present in both the documents.
The report further states that the strategy to defer the remaining annual compensation payable to Ghosn till such time after he retired from the office as a Nissan board member was a former representative director of Nissan names Greg Kelly, according to the information available with the prosecutors at the Special Investigation Department of the Tokyo District Public Prosecutors Office, the report stated.
The guise of consulting or contract fees was allegedly used by Ghosn and Kelly to make such a payment.
The report further quoted sources to say that the signatures of Kelly and Nissan President and CEO Hiroto Saikawa are present in a paper listing the pretext for the deferred payment which has been obtained by investigators.
According to sources, the investigators have been informed by Kelly that the papers that are being talked about is simply a written plan on Ghosn’s post-retirement treatment and that it has not relevance to the current compensation received by Ghosn. Kelly has laso reportedly told the investigators that he had no information of the existence of the written agreement on Ghosn’s deferred payment.
According to reports, an amount of about 9 billion yen in Ghosn’s income from fiscal 2010 to fiscal 2017 had been allegedly deferred which has been listed in the documents.
Ghosn was arrested in Tokyo in on November 19.

Christopher J. Mitchell

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