French prosecutors issue arrest warrant for Carlos Ghosn

French prosecutors have issued an international arrest warrant for Carlos Ghosn and four people linked to an Omani auto dealer following an investigation into whether they helped divert funds from carmaker Renault to its former chair and chief executive for personal use.

The warrants were issued against Ghosn, who was the architect of Renault's alliance with Nissan, and the current owners and former managers of Suhail Bahwan Automobiles, a distributor for the car companies in Oman, the prosecutor's office in Nanterre said in a statement on Friday.

Ghosn, who holds French, Lebanese and Brazilian citizenship, was arrested in Japan in late 2018 on charges of financial misconduct at Nissan, which he denied. He later escaped to Lebanon, meaning he will not undergo a criminal trial in Tokyo.

French prosecutors have been looking into the alleged misuse of funds at Renault since 2019, investigating the role of the Omani car distributor and financial flows between the company and Ghosn.

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According to internal investigations by Renault and Nissan, some of this money is alleged to have been diverted, including to purchase a luxury yacht through a company owned by Ghosn’s wife, people with knowledge of the matter have previously said.

The prosecutors in Nanterre, which is west of Paris, are also looking into spending on lavish parties held on the grounds of the palace of Versailles. French investigating judges have travelled to Beirut to question Ghosn over the allegations. The former car executive has previously said he welcomed the investigation as part of a bid to clear his name.

Ghosn had not been notified of the arrest warrant and learned about it through the media, a spokesperson said. The Wall Street Journal first reported the warrant.

Ghosn was “surprised” by the move by prosecutors as “judges know he is not authorised to leave Lebanon” and has always collaborated with French investigators, the spokesperson added.

Ghosn, who cannot be extradited to France from Lebanon, has been questioned as part of the investigation but prosecutors have not brought any formal charges.- Copyright The Financial Times Limited 2022