√New arrest warrant for former Nissan-Renault boss Carlos Ghosn

French prosecutors believe the former CEO of Nissan-Renault may have used company money to buy a 120-foot private yacht, according to overseas reports.

French prosecutors have issued an arrest warrant for the former boss of Nissan-Renault, Carlos Ghosn, alleging he funnelled millions of dollars in company money through a third-party to buy a yacht.

Mr Ghosn held the top job at Nissan from 1999, and oversaw its consolidation with Renault in the early 2000s.

However, in 2018 he was arrested by Japanese authorities on charges of under-reporting his salary and misuse of company assets.

He was stood down from all his CEO positions over the following year, and subsequently fled on a private jet to Lebanon where he continues to live as an international fugitive.

Citing sources “familiar with the matter,” The Wall Street Journal claims a French magistrate issued five international arrest warrants for Mr Ghosn earlier this week.

The yet-to-be-substantiated allegations are that Mr Ghosn funnelled millions of Euros from Renault through an Omani car distributor Suhail Bahwan Automobiles.

According to the report, Mr Ghosn allegedly used the money to fund a lavish lifestyle – including for the purchase of a 120-foot yacht.

Former directors of the Suhail Bahwan company have also reportedly had arrest warrants issued on unspecified but related charges.

Mr Ghosn is a Lebanese citizen, and is unlikely to be extradited to France. However, it’s so far unclear if he intends to voluntarily face the charges.

According to the The Wall Street Journal, a spokeswoman for Mr Ghosn declined to comment when approached for information.

Drive will update this story when more information becomes available.

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