Nissan just won the first round of his long ‘naval’ battle against the brand’s former president and fugitive, Carlos Ghosn, over who is the rightful owner of the superyacht, after a court ruled that the Brazilian and his wife “illicitly diverted millions of dollars from the manufacturer of cars to buy the luxurious boat.”
According to the court ruling of the British Virgin Islands who is handling the case, in addition to having to transfer the superyacht to Nissan, Ghosn and his wife were sentenced to pay $32 million to the brand in “damages.” And this doesn’t end here.
A soap opera that surprises with a new script twist
This ruling is one more blow in the already turbulent history and the many legal battles that the soap opera of Carlos Ghosn still has pending, who was arrested in 2018 on multiple charges (including embezzlement) and subsequently escaped from Japan stuffed in a box of musical instruments to take refuge in Lebanon, the land of their parents and grandparents.
The superyacht had almost become a symbol of the alleged excesses that are at the center of the proceedings against Ghosn, accused among other things of embezzlement and financial misconduct, after Nissan itself provided the police with information collected in internal investigations conducted for months before his arrest.
The boat in question is an impressive Custom Line Navetta 37 manufactured by the Italian company Ferretti, and was named “Shachou“, which means ‘The Boss’ in Japanese. With five main cabins, seven bathrooms and four cabins for the crew, the yacht is a symbol of luxury and ostentation for who, in his day, converted the Nissan-Renault alliance – Mitsubishi BV into an automobile giant.
According to the court ruling, Ghosn diverted funds from Nissan through complex financial structures, using companies such as Beauty Yachts Pty Ltd., based in the British Virgin Islands, and Shogun Investments, a California entity managed by Ghosn and his son. The court determined that the diverted funds, originally from Nissan’s “CEO Reserve Fund”, were used for personal purposes instead of benefiting the company.
Likewise, Judge Gerhard Wallbank, in his 56-page ruling, makes it clear that the transactions had no justification within the interests of Nissan, but rather “were carried out with the purpose of benefiting Ghosn and his associates.” The superyacht, which was also named in one of four criminal charges brought against Ghosn in Japan, has become emblematic of the extravagances he allegedly practiced during his tenure at Nissan.
Ghosn, who strongly denies the allegations and says he will appeal the decision, did not appear at the trial nor was he represented in the proceedings. In fact Ghosn has always defended his innocencealleging that it is a plot hatched against him from the highest levels of the Alliance. He even did a web page dedicated to it.
In statements to the press, Ghosn said he was “determined to defend himself” in the face of what he considered “unjust persecution.” For its part, Nissan has applauded the court ruling, which the company says validates its efforts to recover damages caused by Ghosn’s activities.
“This is part of Nissan’s efforts to recover damages suffered due to Carlos Ghosn’s misconductincluding the misappropriation of Nissan assets,” the brand said in an official statement. The Japanese manufacturer has also confirmed that it will continue to pursue legal action both in Japan and in other countries to hold Ghosn responsible for his actions.
In parallel, former Nissan executive, Greg Kelly, who was accused as Ghosn’s accomplice In one count, he is appealing his conviction in Japan. In addition, French authorities issued an arrest warrant against him in 2022, accusing him of diverting millions of euros from Renault, a charge that also coincides with the accusations he faces in Japan.
The superyacht case is just one of the many judicial fronts opened against Ghosn, a figure who for years was seen as “the architect of the success of the now diluted Renault-Nissan-Mitsubishi automotive group.” But with more and more sentences against him, Ghosn’s free fall seems to be getting closer to its end.
Source: www.motorpasion.com
