Renault SA has alerted French prosecutors to payments made to a Renault-Nissan b...
PARIS - Renault SA has alerted French prosecutors to payments made to a Renault-Nissan business partner in Oman under former Chief Executive Carlos Ghosn, three sources told Reuters.
Renault has established it paid out millions of euros described as dealer incentives to Omani distributor Suhail Bahwan Automobiles over five years from around 2011, said the sources, who were briefed on the findings. Nissan previously found that its own regional subsidiary made questionable payments of more than $30 million to SBA.
Responding last month to earlier reports about the Nissan payments via SBA, a Ghosn family spokesman said: “The dealer incentive payments were directed by regional heads, not the CEO, and rewarded top performing dealers around the world.” But Ghosn was eventually forced out as Renault chairman and CEO in January, when Michelin veteran Jean-Dominique Senard was appointed chairman, and the alliance partners embarked on an independent audit of their joint finances the following month.Born in Brazil to Lebanese parents, Ghosn, 65, returned to Lebanon as a child and retains a powerful network of friends and associates there.
In an earlier complaint filed with French prosecutors in February, Renault turned over evidence that the 50,000-euro rental cost of Ghosn’s Chateau de Versailles wedding in 2016 had been improperly charged to the company. From there it flowed on to privately held entities including a British Virgin Islands-registered vehicle that paid for a $15 million yacht, they said.
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