Renault to alert prosecutors over ex-CEO Ghosn’s wedding costs

Renault to alert prosecutors over ex-CEO Ghosn's...

Renault (RNLSY), of which Ghosn was Chairman and CEO until his firing last January 24, claims Ghosn used Renault's money to pay for his lavish wedding reception following his marriage to Carole Nahas on October 8, 2016.

Carlos Ghosn is said to have been offered a free ceremony in 2016 after making a sponsorship deal between Renault and the historic royal palace. In effect, what Renault is saying is that Ghosn tricked it into paying for his wedding reception.

The company confirmed Thursday that internal audits 'identified that a contribution of 50,000 euros, under a sponsorship agreement signed with the Chateau de Versailles, was allocated to Mr Ghosn's personal benefit'.

French media reported this wedding was a truly opulent affair "fit for a king and queen".

The French carmaker's disclosure this week that centered around a Marie Antoinette-themed wedding celebration in 2016 was the first time it has publicly flagged a possible impropriety by its jailed former chairman.

As part of that arrangement, Renault asked for permission to rent out space in the Grand Trianon mansion on the Versailles grounds for a "dinner" on Oct 8, 2016, the chateau said in a statement.

"The elements gathered so far require additional checks to be carried out", Renault said in a statement Thursday.

Renault's board was told about the discovery as reported in Le Figaro on Wednesday, Reuters reported.

Renault started an internal probe in November, shortly after Ghosn was arrested.

After his Nov 19 arrest, Ghosn was quickly ousted by Nissan and Mitsubishi Motors, the other Japanese partner in the alliance.

Meanwhile, Nissan is unlikely to appoint new Renault Chairman Jean-Dominique Senard as its chairman, and the two automakers are unlikely to share a chairman again in the future, The Japan Times reports. This alliance produces one out of every nine cars in the world. The French government holds a 15-percent stake in Renault, indirectly having an influence over Nissan. The allegation was denied by Mr Le Borgne, who said that Renault had...

In his first Tokyo court appearance last month, he said he was "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations". Nikkei reports the move could have been prompted by the impending expiration of a tax break Ghosn had received in the Netherlands, where he had moved from France in 2012 to avoid a wealth tax.

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