Nissan chief executive will be arrested on financial trading violations - Japanese media

Nissan CEO Carlos Ghosn speaks during the beginning of the New York International Auto Show

"Based on a whistleblower report, Nissan Motor Co., Ltd. (Nissan) has been conducting an internal investigation over the past several months regarding misconduct involving the company's Representative Director and Chairman Carlos Ghosn and Representative Director Greg Kelly, " Nissan said in a release.

Nissan said it would brief reporters on Monday evening.

Ghosn voluntarily went with Tokyo prosecutors, Asahi reported. The alleged violations relate to.

The automaker said it had been investigating Ghosn's (and Representative Director Greg Kelly's) possible improper practices for several months.

Following that report, Nissan global depository receipts fell more than 11 per cent in Japan, while shares in Renault have dropped by more than five per cent, reaching their lowest level in almost four years.

"Nissan deeply apologizes for causing great concern to our shareholders and stakeholders", the company said. Ghosn remained in that post until previous year. While no longer Nissan's chief executive officer, he's been laying the groundwork as chairman to make the alliance permanent after his departure - including the possibility of a merger.

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In a statement, Nissan said: "The investigation showed that over many years, both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount in order to reduce the disclosed amount of Ghosn's compensation".

In a statement that came as a bombshell to investors, the global auto industry and politicians in Tokyo and Paris, Nissan said that it would ask its directors to sack Mr Ghosn as chairman.

A spokesman for France's finance ministry declined to comment on the news. "We will continue our work to identify our governance and compliance issues, and to take appropriate measures", it said.

At Nissan, he was paid about 1.1 billion yen ($10 million) for 2016 and about $6.5 million in the most recent fiscal year.

Ghosn then became chairman of the board of that automaker as well, and vowed to revive it by integrating Mitsubishi Motors into the Renault-Nissan manufacturing alliance. But plans for an orderly succession - and potentially the entire future of the rather unwieldy Renault-Nissan-Mitsubishi structure - may well have been thrown wide open.

Mr Ghosn, 64, who has French, Brazilian and Lebanese passports, was reported to have been summoned for questioning over allegations of tax evasion in Japan. In addition to this, he received 9.2 million euros in his final year as Nissan chief executive.

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