2 years in prison wanted for Greg Kelly
Japanese prosecutors have requested a two-year prison sentence for former Nissan Motor executive Greg Kelly for alleged involvement in the underreporting of ousted president Carlos Ghosn’s compensation.
Kelly is accused of plotting to underestimate Ghosn’s compensation in the automaker’s securities reports.
Kelly, 65, pleaded not guilty to the charges brought by prosecutors, telling the court he had never colluded with Ghosn or any other Nissan executive. Kelly also said he never submitted any securities reports containing false information.
Nissan Motor has admitted to making similar charges.
Prosecutors told court on Wednesday that Kelly was considering a plan to pay Ghosn unpaid compensation in other forms. They said it could only be done by Kelly, who they said had the confidence of the former president.
Prosecutors said the crime was designed to fulfill Ghosn’s eager desire to prevent the release of his compensation in order to avoid criticism from shareholders and the risk of losing his job, without reducing his compensation.
They said it was out of the question for a company to engage in illegal practices to maintain an executive.
Prosecutors said Nissan’s governance was totally dysfunctional and the practice had continued for a long time within a meticulously defined framework and was highly malicious.
They also demanded that Nissan Motor pay a fine of 200 million yen, or about $ 1.79 million.
Defense lawyers are due to deliver their argument on October 27.