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Carlos Ghosn · executive compensation · securities disclosure · criminal prosecution · automotive

Was Carlos Ghosn convicted over his Nissan pay, and what happened to the case after he left Japan?

No. Carlos Ghosn was charged in Japan in December 2018 and January 2019 but has not been tried there because he left Japan while on bail and announced on 31 December 2019 that he was in Lebanon, which has no extradition treaty with Japan according to Japan's justice ministry. Nissan Motor Co. pleaded guilty and was fined 200 million yen on 3 March 2022, and former director Greg Kelly was convicted for one of eight years charged, a ruling upheld by the Tokyo High Court on 4 February 2025. In 2019 Ghosn, Kelly and Nissan settled SEC fraud charges without admitting or denying them. In France, a Paris criminal court tried Ghosn in his absence from 16 September 2026 in a case also involving Rachida Dati, and judgment is pending. Ghosn denies wrongdoing.

Last verified 30 October 2026. Japan · United States · France · Lebanon · Also concerns Nissan Motor Co., Ltd.

The record at a glance

What was alleged?Tokyo prosecutors alleged that Ghosn, Kelly and Nissan under-reported Ghosn's compensation in Nissan's securities filings, which AP put at about 9 billion yen over eight years, and later charged Ghosn with aggravated breach of trust over the alleged shifting of personal investment losses to Nissan in 2008. The SEC alleged that Ghosn, with Kelly's help, concealed more than 90 million dollars in compensation and sought to increase his retirement allowance by more than 50 million dollars, about 140 million dollars in total, none of which was paid.1,2,3,4
Who made the claim?Tokyo District Public Prosecutors Office and US Securities and Exchange Commission, 10 December 2018
How did Carlos Ghosn respond?Ghosn's position is that he is innocent. After leaving Japan he said he had not fled justice but had escaped injustice and political persecution under what he called a rigged justice system. After the 2022 verdict he called it a save-face verdict, as reported by AP. In France he denies wrongdoing and asked the Paris court to postpone his trial, according to AFP. Kelly also maintains his innocence. Nissan did not contest the charges against it and called the 2022 ruling a fair judgment.2,5,6,7,8 (the subject's position)
Was there an official finding?Nissan Motor Co. was convicted in Japan on its guilty plea and fined 200 million yen.2,7,9
Greg Kelly was convicted on one of eight years charged and acquitted on seven, and the Tokyo High Court upheld that outcome on 4 February 2025.2,12,13
Ghosn has not been tried in Japan, and no court has convicted him of any of these charges as of 30 October 2026.2,14
Was liability determined?No, liability was not determined. Ghosn's criminal liability has not been determined by any court. He has not stood trial in Japan, and the Paris court that tried him in his absence in September 2026 had not delivered judgment by 30 October 2026. His SEC settlement was without admitting or denying the allegations. Nissan's liability was determined on its guilty plea. Kelly's partial conviction was upheld by the Tokyo High Court, with a further appeal announced.1,2,12,14
What changed later?As of 30 October 2026 Ghosn remains untried in Japan and lives in Lebanon, judgment is awaited in his Paris trial in absentia, Nissan's conviction stands and Kelly's partial conviction was upheld on 4 February 2025.8,12,14
When was this checked?30 October 2026

What was alleged?

Claim

Tokyo prosecutors alleged that Ghosn, Kelly and Nissan under-reported Ghosn's compensation in Nissan's securities filings, which AP put at about 9 billion yen over eight years, and later charged Ghosn with aggravated breach of trust over the alleged shifting of personal investment losses to Nissan in 2008. The SEC alleged that Ghosn, with Kelly's help, concealed more than 90 million dollars in compensation and sought to increase his retirement allowance by more than 50 million dollars, about 140 million dollars in total, none of which was paid.1,2,3,4

Made by Tokyo District Public Prosecutors Office and US Securities and Exchange Commission on 10 December 2018.

What did Carlos Ghosn say?

Subject's position

Ghosn's position is that he is innocent. After leaving Japan he said he had not fled justice but had escaped injustice and political persecution under what he called a rigged justice system. After the 2022 verdict he called it a save-face verdict, as reported by AP. In France he denies wrongdoing and asked the Paris court to postpone his trial, according to AFP. Kelly also maintains his innocence. Nissan did not contest the charges against it and called the 2022 ruling a fair judgment.2,5,6,7,8

"I have escaped injustice and political persecution."

Carlos Ghosn (statement, as reported by Reuters and Al Jazeera), 31 December 2019. This is the subject's own account, not a finding.

What do independent records show?

Government

First indictment (as reported by Reuters)

Tokyo District Public Prosecutors Office, 10 December 2018

Ghosn, Kelly and Nissan were formally charged over under-reporting Ghosn's income for the five years to March 2015, and Ghosn and Kelly were rearrested over the three years to March 2018. On 11 January 2019 Ghosn was charged with aggravated breach of trust and with under-reporting for the three years to 2018, and Nissan was also indicted on the under-reporting charge. Ghosn had been arrested on 19 November 2018.3,4

Regulator

SEC v. Ghosn and Kelly, No. 1:19-civ-08798, and settled administrative proceeding against Nissan (Litigation Release No. 24606)

US Securities and Exchange Commission and US District Court for the Southern District of New York, 23 September 2019

Nissan agreed to a 15 million dollar penalty, Ghosn to a 1 million dollar penalty and a 10 year officer and director bar, and Kelly to a 100,000 dollar penalty, a five year officer and director bar and a five year suspension from practising before the SEC as an attorney. All settled without admitting or denying the allegations.1

Court

Verdict in the trial of Greg Kelly and Nissan Motor Co. (as reported)

Tokyo District Court (Chief Judge Kenji Shimotsu), 3 March 2022

Nissan, which pleaded guilty at the start of the trial according to Reuters, was fined 200 million yen. Kelly was convicted only over the final year of the eight under review and acquitted on the others, receiving six months' imprisonment suspended for three years. AP reported that the judge said Ghosn's arrangement was conducted solely out of his personal greed.2,7,9

Court

International arrest warrants (as reported by AFP and Bloomberg)

Investigating judge, Nanterre judicial court (France), 21 April 2022

Warrants were issued for Ghosn and four current or former figures at the Omani distributor Suhail Bahwan Automobiles, over suspected misuse of company assets, money laundering and corruption relating to about 15 million euros in payments between the Renault and Nissan alliance and the distributor, according to AFP. Nanterre prosecutors confirmed the warrants on 22 April 2022.10,11

Court

Appeal ruling in the Kelly case (as reported by AP and AFP)

Tokyo High Court, 4 February 2025

The court upheld Kelly's conviction for one year and dismissed the prosecutors' appeal against his acquittals for the other seven years. Kelly's lawyer said he would appeal to the Supreme Court of Japan.12,13

Court

Trial of Rachida Dati and Carlos Ghosn (as reported by AFP and Public Sénat)

Paris criminal court (tribunal correctionnel), 16 September 2026

Ghosn was tried in his absence on charges that L'Orient-Le Jour listed as abuse of corporate assets, breach of trust, corruption and active influence peddling, linked to payments to Dati from a Renault and Nissan subsidiary. Dati denies the allegations. On 28 September 2026 prosecutors asked for four years' imprisonment for Ghosn with the arrest warrant maintained. Public Sénat reported that the court will rule in a few months.8,14,15

What was established?

Distinctions that matter here

Was liability determined?

No, liability was not determined. Ghosn's criminal liability has not been determined by any court. He has not stood trial in Japan, and the Paris court that tried him in his absence in September 2026 had not delivered judgment by 30 October 2026. His SEC settlement was without admitting or denying the allegations. Nissan's liability was determined on its guilty plea. Kelly's partial conviction was upheld by the Tokyo High Court, with a further appeal announced.1,2,12,14

What remains unresolved?

What is the current status?

As of 30 October 2026 Ghosn remains untried in Japan and lives in Lebanon, judgment is awaited in his Paris trial in absentia, Nissan's conviction stands and Kelly's partial conviction was upheld on 4 February 2025.8,12,14

As of 30 October 2026. No next proceeding is scheduled in the records we found.

Timeline

  1. Ghosn and Kelly arrested in Tokyo.3,4
  2. First charges filed over under-reported compensation.3
  3. Ghosn charged with aggravated breach of trust and further under-reporting.3,4
  4. SEC settlements with Nissan, Ghosn and Kelly.1
  5. Ghosn, on bail in Japan, issues a statement that he is in Lebanon.5,6
  6. Trial of Kelly and Nissan opens in Tokyo. Kelly pleads not guilty.16
  7. Tokyo District Court verdict: Nissan fined, Kelly convicted on one year.2,9
  8. Nanterre investigating judge issues international arrest warrant for Ghosn.10,11
  9. Tokyo High Court upholds the Kelly verdict.12,13
  10. Paris trial involving Ghosn and Dati opens, with Ghosn tried in his absence.8
  11. Prosecutors ask for four years' imprisonment for Ghosn.14

Sources

  1. US Securities and Exchange Commission, Carlos Ghosn and Gregory L. Kelly, Litigation Release No. 24606, 23 September 2019 · document record Court, legislation, official register or regulator record
  2. NY1 (Associated Press), Tokyo court gives ex-Nissan exec Kelly suspended sentence (AP), 3 March 2022 Independent reporting
  3. Business Standard (Reuters), Timeline: Key dates in the investigation of Nissan ex-chairman Ghosn (Reuters), 11 January 2019 Independent reporting
  4. CNBC, Nissan's Ghosn charged on additional counts of financial misconduct, 11 January 2019 Independent reporting
  5. Dawn (Reuters), Ex-Nissan boss Ghosn says he is in Lebanon, denies fleeing justice in Japan (Reuters), 31 December 2019 Independent reporting
  6. Al Jazeera, Former Renault-Nissan boss Ghosn confirms he has left Japan, 31 December 2019 Independent reporting
  7. The Japan Times, Nissan won't appeal ruling that carmaker hid Carlos Ghosn's pay, 4 March 2022 Independent reporting
  8. Gulf News (AFP), French ex-minister Dati goes on trial in Renault-Nissan corruption case (AFP), 16 September 2026 Independent reporting
  9. Nippon.com (Reuters), Former Ghosn deputy set for U.S. return after suspended sentence (Reuters), 3 March 2022 Independent reporting
  10. Malay Mail (AFP), French prosecutors issue international arrest warrant for Ghosn (AFP), 22 April 2022 Independent reporting
  11. Bloomberg Línea, Carlos Ghosn Faces Arrest Warrant in French Probe (Bloomberg), 23 April 2022 Independent reporting
  12. Boston Globe (Associated Press), Japanese court upholds conviction of American who helped fugitive former Nissan chief hide pay (AP), 4 February 2025 Independent reporting
  13. Free Malaysia Today (AFP), Tokyo court upholds sentence for former Nissan exec Kelly (AFP), 4 February 2025 Independent reporting
  14. Public Sénat, Procès de Rachida Dati : quatre ans de prison dont deux ans ferme sous bracelet électronique requis contre l'ex-ministre, 28 September 2026 Independent reporting
  15. L'Orient Today, Trial in France of Rachida Dati and Carlos Ghosn to take place in September 2026 Independent reporting
  16. Al Jazeera, Japan puts former aide of ex-Nissan boss Carlos Ghosn on trial, 15 September 2020 Independent reporting

Revision history

Related: Carlos Ghosn, executive compensation, securities disclosure, criminal prosecution, automotive, Japan, United States, France, Lebanon. To submit a document or request a correction, see right of reply.