Dec 04 (Kyodok) - Former Nissan Motor Co. Chairman Carlos Ghosn continues to deny allegations of financial misconduct against him, and says he will not make a false confession, sources close to the matter said Monday.
The 64-year-old, who is known for rescuing Nissan from the brink of bankruptcy in the 1990s, was arrested last month for allegedly understating his compensation, and subsequently ousted as chairman of the automaker.
Ghosn is accused of breaching the Financial Instruments and Exchange Act by reporting only 5 billion yen ($44 million) of his 10 billion yen compensation during the five years through March 2015.
Ghosn's annual compensation was set at around 2 billion yen, and he is charged with failing to report around half of the amount that he was to receive after stepping down.
The charismatic automotive industry figure has told prosecutors that it was unnecessary to report some of his remuneration as the payment had yet to be settled, according to different sources with knowledge of the investigation.
Ghosn was quoted as saying that remuneration was just an amount he hoped to receive.
