Rise and fall of former Nissan CEO Carlos Ghosn as Netflix series airs

Rise and fall of former Nissan CEO Carlos Ghosn as Netflix series airs

Fugitive: The Curious Case of Carlos Ghosn has landed on streaming platform Netflix today (October 26) and the docuseries gives insight into the downfall of business mogul, Carlos Ghosn.

The synopsis for the series reads: "How do you go from being one of the most revered CEOs of the car industry to being jailed in Japan, escape in a box and end up a fugitive with an international arrest warrant?

"This story is told by Ghosn's closest collaborators and relatives. Success, hubris, paranoia, and the dark secrets behind his rise and fall. A tale of our times."

Here's everything you need to know about the rise and fall of Carlos Ghosn.

Who is Carlos Ghosn?

Carlos Ghosn is a French businessman who was the CEO and chairman of many well-known motor vehicle companies.

During his time in business, he was the CEO of Michelin North America, chairman and CEO of Renault, chairman of AvtoVAZ, chairman and CEO of Nissan, and chairman of Mitsubishi Motors.

Forbes magazine previously called him "the hardest-working man in the brutally competitive global car business" and as of 2006, he was splitting his time between Paris and Tokyo, logging roughly 150,000 miles (241 400 km) in airplanes per year.

Why was Carlos Ghosn arrested in 2018?

In April 2018, Carlos stepped down as CEO of Nissan but remained chairman of the company.

However, on November 19 2018, Carlos was arrested at Tokyo International Airport for alleged gross misuse of company assets and under-reporting his salary.

According to The Straits Times, the businessman was accused of under-reporting his compensation for at least eight fiscal years by nine billion yen (£53 million) in financial documents, partly by deferring payments until his retirement, constituting financial misconduct.

On November 22, 2018, Nissan's board dismissed Carlos as Nissan's Chairman, effective immediately, with Mitsubishi Motors' executive board taking similar action four days later.

Renault and the French government continued to support him at first, however, they soon found the situation untenable and he was made to retire as chairman and CEO of Renault on January 24, 2019.

While the business tycoon was out on bail granted in early March, he was re-arrested in Tokyo on April 4, 2019, over new charges of misappropriations of Nissan funds.

Days later, Nissan shareholders voted to oust Carlos from the company's board. He was released again on bail on April 25, according to the New York Times.

In June, Renault uncovered 11 million euros (£9.53m) in questionable expenses by him, leading to a French investigation and raids.

In September 2019, the businessman was fined $1m (£865,815) by the US Securities and Exchange Commission over his failure to disclose pay, while Nissan was fined $15m (£12.9m).

Did Carlos Ghosn escape from Japan?

On December 30, 2019, media outlets reported that Carlos had escaped from Japan and arrived in Beirut, Lebanon.

The business tycoon later confirmed these reports through a statement released by his press representative in New York.

In the statement, Carlos claimed that he would "no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant and basic human rights are denied."

He was reportedly smuggled out of hotel in Osaka via a box, with two men posing as musicians before being loaded onto a private jet.

Carlos is then understood to have swapped planes in Turkey before landing in Lebanon, which does not have an extradition treaty with Japan, according to BBC News.

Where is Carlos Ghosn now?

The international fugitive is reportedly still living in Lebanon following his escape from Japan in 2019.

In January 2020, Carlos – who has citizenship in Lebanon, Brazil and Brazil – held a press conference where he said he didn't consider himself "as a prisoner in Lebanon".

According to The Guardian, he said: "I prefer this prison to the one before. "I am ready to stay a long time in Lebanon, but I am going to fight because I have to clear my name."

Later that month, Interpol issued a red notice for Carlos, which requests police across the globe to provisionally arrest a person pending extradition, surrender or similar legal action.

Earlier this year, the former Nissan CEO told French publication Le Parisien that he wishes to return to France but can not "for the moment" due to the Interpol warrant for his arrest.

In April, France issued an international arrest warrant for the former business tycoon over allegations of misuse of company assets, money laundering and corruption, according to The Guardian.

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