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Evening Standard
Evening Standard
Business

Deposed Nissan chief Carlos Ghosn ‘raided firm’s funds to pay trading loss’

The ousted chairman of Nissan moved investment losses he had made on his own account to the car-maker during the 2008 financial crisis, a Japanese newspaper reported on Tuesday.

The paper, Asahi Shimbun, said Carlos Ghosn, arrested last week over allegations of “significant” financial misconduct, is alleged to have made Nissan shoulder $15 million (£12 million) of losses he incurred on derivatives trades.

When his broker demanded more collateral for the losing trades, Ghosn transferred them to the company, Asahi reports.

It is the latest in a series of allegations against Ghosn being leaked to the Japanese media.

Ghosn is unable to defend himself against them as he remains incarcerated without charge in a Tokyo prison.

He has been there since last Monday after his arrest for financial misconduct, including allegedly understating his income. Ghosn reportedly denies that.

Ghosn, voted out as chairman of Nissan, was also ousted as chairman of partner Mitsubishi yesterday.

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