According to authoritative Wall Street Journal, former Nissan CEO Carlos Ghosn has set up a large-scale business to invest in Silicon Valley projects. He cooperated with his son, using the money received from the leadership of an Omani company that is Nissan’s partner.
Mr. Ghosn is under a serious investigation into financial fraud. Only a few people knew about the “secret” business of the former head of Nissan. Such secretive business activity could cause quite serious accusations.
The case against Ghosn has been going on since the end of last year. Among other things, the underestimation of the amount of bonuses received from the Nissan concern is also listed as an accusation. In reporting, they are underestimated by approximately $ 80 million.
If you believe the publication, it was quite simply for Ghosn to receive funds for investing in projects in Silicon Valley. Nissan sends $ 10 million to an Omani partner, half of this amount transfers to Ghosn through the accounts of the Lebanese company.
The Wall Street Journal refers to bank documents, as well as to people from Ghosn’s inner circle as sources confirming such information.
Carlos Ghosn was the direct manager of the investment business and personally gave instructions on major transactions. One of the projects he invested in was an Asian taxi service.
The WSJ sources report that Ghosn abused his personal and business connections when he headed the car company. During his work, the company concluded several dubious transactions involving his friends and relatives in the Middle East and Asia.
Now (during the investigation), Ghosn and his representatives completely deny all the allegations, claiming that Nissan and the prosecutor’s office are fabricating cases in order to spoil the manager’s reputation.
The publication also says that Ghosn had a winemaking business in Lebanon, as well as substantial stakes in two local banks. In addition, he also invested in real estate in the Middle East and contacted with influential people who could help him increase Nissan’s presence in the region.
Ghosn’s son, Anthony, has not been indicted since he is an American resident. However, the investigation mentions his involvement in transactions with the Omani partner of Nissan.
Shogun Investments (the so-called investment company owned by Ghosn) was founded in 2015. There is evidence that its main owner is precisely Ghosn primus, and Anthony has only a small share.
Fadi Gebran, personal Mr. Ghosn’s lawyer, is also associated with the “affairs” of his boss. At the same time as Shogun Investments, Mr. Gebran created Good Faith Investments in Beirut. Diyendu Kumar, managing director of Suhail Bahwan Automobiles, the Nissan distributor in Oman, is its owner on paper.
The Wall Street Journal reports that the first transfer of 5 million euros took place in the same 2015. Mr. Kumar sent the money to Good Faith. During the year, the company received 5 such transfers.
Sources of the publication confirm that the money was sent by Kumar. By September 2018, he had transferred about 40 million euros to Good Faith.
The Japanese authorities conducting the investigation focus on transfers in favor of the Omani partner. In the reports, they are recorded as “incentive payments” controlled by Kumar. Money was transferred from the CEO’s reserve and was attributable to unforeseen expenses of the company.
Now the prosecutor’s office believes that Mr. Ghosn was receiving the money through Good Faith, which was led by Kumar.
“Incentive payments” are widely used in the automobile business. However, they are usually displayed in the company’s budget. From 2012 to 2018, Nissan transferred about $ 32 million to its distributor.
Since October 2015, Ghosn has been transferring money from Good Faith to Shogun accounts. By 2018, he had managed to withdraw more than $ 27 million. These receipts were the only source of Shogun Investments financing.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group