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Nissan seeks $90 million in damages from fugitive former boss Carlos Ghosn over ‘years of misconduct & fraud’

Nissan seeks $90 million in damages from fugitive former boss Carlos Ghosn over ‘years of misconduct & fraud’
Japanese automaker Nissan has filed a civil lawsuit against fugitive former chairman Carlos Ghosn, initially seeking to recover 10 billion yen ($90.8 million) in damages over alleged financial misconduct and “fraudulent activity.”

“The financial damages claimed by Nissan are linked to Ghosn’s breach of fiduciary duty as a company director and his misappropriation of Nissan’s resources and assets,” company said on Wednesday. The suit was filed at Yokohama District Court in Kanagawa.

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The size of the damages, calculated on the basis of costs to the company of Ghosn’s “corrupt practices,” may also increase in the future, according to the car maker. Nissan says it also wants compensation for all fines to be paid to the Japanese Financial Services Agency and for possible penalties the company may incur in criminal proceedings related to Ghosn’s case.

In January Nissan announced it would pursue legal action against its former chairman, who is widely credited with saving the company from bankruptcy nearly two decades ago. The statement came more than a week after Ghosn made his miraculous escape from Japan, where he was set to face criminal charges for understating his annual salary and misusing company funds.

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The businessman has denied any wrongdoing and said that he escaped “injustice and political persecution.” As he held a lengthy news conference in early January, he accused Japanese prosecutors of collusion with Nissan, saying that the real reason for his persecution was his work to deepen the alliance between Nissan and French automaker Renault.

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