Renault denounces Nissan over Carlos Ghosn investigation

Renault denounces Nissan over Carlos Ghosn investigation

Renault denounces Nissan over Carlos Ghosn investigation

Carlos Ghosn plans to pay back the Château de Versailles for costs related to his Marie Antoinette-themed wedding party after Renault SA disclosed that its former chairman may have improperly used a sponsorship deal to host the event.

"He thought it was free", Le Borgne added.

His subsequent indictment on three charges of financial misconduct has led to renewed scrutiny of his management and lifestyle at both companies while he sits in a Tokyo jail awaiting trial. He and his wife, Carole, threw an extravagant party there in 2016 that was captured in a photo spread showing actors in period costumes, along with eye-popping arrays of cakes.

Meanwhile, an official with the carmaker said that Renault and Nissan are also conducting a joint investigation into Ghosn's activities as head of the alliance between them, Netherlands-based Renault-Nissan BV.

Ousted Renault boss Carlos Ghosn has offered to reimburse the Chateau de Versailles for his wedding after it emerged the French carmaker paid part of the costs.

Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters.

Russian islands declare emergency over polar bear `invasion`
Instead they've offered to send a commission to investigate the situation but have not ruled out a cull. Severtsov Institute of Ecology and Evolution, a branch of the Russian Academy of Sciences , told TASS .

"No decision has yet been taken regarding an eventual inquiry", a spokesperson told AFP.

Strains in the alliance between Renault and Nissan have been laid bare by the publication of a letter from the French carmaker's lawyers accusing its Japanese partner of breaking worldwide law in its inquiry into Carlos Ghosn.

Officially the event was to celebrate the 15th anniversary of Renault's alliance with Nissan, the ambitious project which Ghosn forged into the world's top-selling auto group.

The Japanese case includes suspicions that Ghosn under-reported his income as chairman of Nissan and falsified financial reports.

"We need to stay calm, people's imaginations are running wild - the invitations clearly say it was to mark the alliance's 15th anniversary", Le Borgne said. "There are some coincidences that have nothing to do with cause-and-effect relationships".

The Japanese firms jettisoned Ghosn nearly immediately but Renault waited much longer and the tycoon eventually resigned as chairman and CEO.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.