Sunday, October 24, 2021

Tokyo prosecutors seek two years in prison for former Nissan executive Kelly

TOKYO – Japanese prosecutors asked a Tokyo court on Wednesday to send former Nissan Motor executive Greg Kelly to two years in prison for helping to hide the earnings of the carmaker’s ousted CEO Carlos Ghosn.

Prosecutors, who are also seeking a 200 million yen ($1.8 million) fine for the Japanese carmaker, called for a prison sentence for Kelly in a trial that began a year ago.

The case is expected to be decided next year, and if convicted, Kelly could join two other Americans who are serving time in Japan after a court in July found them in Lebanon on a private jet hidden in luggage. But he was sentenced for helping smuggle Ghosn out of Japan. At the end of 2019, where he remains a fugitive.

The conviction rate in Japan is around 99 percent.

Kelly has denied allegations that he helped Ghosn hide 9.3 billion yen of Ghosn’s earnings over eight years through deferred payments, his sole goal being to retain a chief executive who was seduced by a rival automaker. could go.

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In 2010, Japan introduced new financial rules, requiring company executives to disclose their compensation for over 1 billion yen a year.

Ghosn, who also denies any wrongdoing, faces separate breach of trust charges alleging he himself at Nissan’s expense through $5 million in payments to Middle East car dealerships. and temporarily transferred personal financial losses to the books of his employer.

Both former Nissan executives alleged they were victims of a boardroom coup by former allies, worried that Ghosn would push his largest shareholder through a merger between Nissan and Renault SA.

Kelly sat suit and tie during months of witnesses testifying, including former aides such as former vice president of legal affairs Hari Nada and Toshiaki Onuma, the officer responsible for Ghosn’s compensation details. He cooperated with prosecutors and was not charged.

($1 = 110.7420 yen)

by Tim Kelly

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This News Originally From – The Epoch Times

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