SEC Launches Nissan Probe After Ghosn Indictments in Japan

January 28, 2019 at 2:33 PM

The U.S. Securities and Exchange Commission has asked Nissan Motor Co. for details about charges in Japan that the company falsified reports about compensation paid to ex-Chairman Carlos Ghosn.

Nissan says it is cooperating but won’t discuss the investigation. Bloomberg News says the SEC probe is focusing on whether the Nissan’s U.S. reporting violated U.S. securities law. Nissan shares are traded in the U.S. through American depositary receipts.

The indictments and new charges leveled against Nissan and Ghosn, which were announced last month, claim that Ghosn’s deferred compensation was underreported by as much as 9 billion yen ($82 million) over nine years.