Nissan’s chairman arrested for ‘swindling £34million from the carmaker’

NISSAN’S chairman has been arrested amid claims he swindled the Japanese carmaker out of more than £34million.

It is alleged Carlos Ghosn, 64, under-reported his income.

Brazilian-born Ghosn, who is also said to have engaged in other “significant acts of misconduct”, voluntarily submitted to questioning by Tokyo prosecutors.

The firm’s board is preparing to oust him on Thursday.

Nissan started an internal probe after a whistleblower tip-off.

Senior executive Greg Kelly is also said to be “deeply involved”.

The two men are said to have under-reported their income by a combined five billion yen (£34million) according to Japan’s Kyodo News service.

Nissan CEO Hiroto Saikawa said that the wrongdoing was serious and unacceptable and had gone on for years.

The arrest is a dramatic fall for Ghosn, hailed for rescuing the car giant he led for two decades from near bankruptcy.

He is also chairman and chief executive of Nissan’s French partner Renault.

Nissan is the world’s sixth-largest carmaker and its Sunderland site is the UK’s biggest car plant, employing nearly 8,000 people.

Mr Ghosn could not be reached for comment last night.

Mr Saikawa said yesterday: “Looking back, the concentration of power was something we need to deeply reflect on.”