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Carlos Ghosn has hired the US law firm Paul, Weiss, Rifkind, Wharton & Garrison to defend himself against allegations of financial misconduct in Japan, said one close to the case.
Mr. Ghosn, who heads the French automotive giant Renault SA as chairman and CEO and former chairman of Nissan Motor Co., has been detained since Monday in a detention center in Tokyo. Japanese prosecutors have arrested him on suspicion of underreporting his compensation at Nissan of about $ 44 million over five years.
Japanese public broadcaster NHK reported Sunday that Ghosn told prosecutors that he denied the facts.
Nissan said that it had been passed on to the authorities after an internal investigation had revealed "significant acts" of allegedly wrongful acts of financial order. Nissan's board of directors decided on Thursday to oust Ghosn as president.
Mr. Ghosn has not been charged with any crime. A Tokyo court on Wednesday approved the detention of Mr. Ghosn until the end of this week. In Japan, suspects can be detained and interrogated for weeks without formal charges.
In addition to prosecutors' allegations, Nissan's investigation revealed that Ghosn had used the company's money to buy and renovate residences he had used in Beirut and Rio de Janeiro, a well-known person said. with the Nissan survey. Prosecutors have so far not said publicly that they were investigating this matter.
The Ghosn family estimated that the residences in Rio de Janeiro, Beirut and other localities were corporate housing, the purchase of which was approved by Nissan, said a person close to the family.
Brad Karp, president of Paul Weiss and renowned defense lawyer for Wall Street's major securities banks, will represent Ghosn alongside another firm partner, Michael E. Gertzman, said the person close to the folder.
In Japan, Mr Ghosn has retained the services of former prosecutor Motonari Otsuru, who now practices in a private practice, said this person. The Japanese public broadcaster NHK announced its hiring last week.
Mr. Karp has represented dozens of securities and regulatory companies, including JPMorgan, Morgan Stanley and Bank of America, according to the company's website. He also represented the National Football League in settling hundreds of lawsuits filed by former players, alleging that the league concealed risks associated with concussions.
Over the last ten years, Mr. Karp has helped Citigroup Inc. win an arbitration case against the Abu Dhabi Investment Authority, which claimed that its $ 7.5 billion investment in Citigroup was realized on the base of fraudulent returns from the New York bank.
Mr. Ghosn met with Mr. Otsuru at least once during his detention, said the person aware of the case.
The 64-year-old businessman is one of the most prominent leaders in the world after forming a global alliance between Nissan, Mitsubishi Motors Corp. and Renault.
Write to Mike Colias at [email protected]
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