Renault says has \'serious questions\' over expenses under Ghosn

Renault says has 'serious questions' over expenses under Ghosn

AFP  |  Paris 

French carmaker said Wednesday that a joint Renault-audit of their Dutch subsidiary RNBV had raised "serious questions" over millions of euros in expenses incurred by ousted

"Certain expenses which have yet to be precisely quantified, but may amount to several million euros since 2010, raise serious questions as to their conformity with RNBV's corporate interest," Renault's board of directors said in a statement.

The statement said "RNBV's internal organisation suggests serious deficiencies in terms of financial transparency and expenditure control procedures."

The board had asked Renault's management to work with "to jointly remedy these deficiencies as soon as possible," it added.

The statement came amid reports in that prosecutors there were considering bringing further charges against Ghosn, who spent more than three months in custody on allegations of financial misconduct involving his pay and Nissan's accounts.

The reports said the investigators were reportedly eyeing a possible aggravated breach of trust charge related to at least $32 million in funds transferred to a distributor in

The transactions reportedly involved and Nissan's Amsterdam-based venture RNBV.

Some of the money is believed to have been used to buy a yacht allegedly used by Ghosn, 65, and his family, according to a source familiar with the matter.

In a stunning development that rocked and the business world, Ghosn was arrested on November 19 off his private jet at a Tokyo airport and taken into custody.

Nissan swiftly removed him as and he was also later deposed as and of

Ghosn spent more than 100 days in detention with limited access to lawyers before being released on a bail of nearly USD 9 million last month.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 03 2019. 22:35 IST