WASHINGTON — Nissan has agreed to pay $15 million and its former chairman Carlos Ghosn is paying $1 million to settle federal regulators’ civil fraud charges of hiding from investors more than $140 million in compensation and retirement benefits for Ghosn.
The Securities and Exchange Commission announced the settlement Monday with the Japanese automaker and its former chairman, who also agreed to be barred for 10 years from serving as an officer or director of a public company. Ghosn is awaiting trial in Japan on financial misconduct allegations.
Ghosn and Nissan Motor Co. settled the charges without admitting or denying the SEC’s allegations, but agreed to refrain from future anti-fraud violations of the securities laws.
The Associated Press