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New allegations against Ghosn concern payments to Saudi businessman

BEIJING – Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker. The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen ($16.6 million) incurred on a swap contract he had with a bank which it did not name. A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests. "By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly. According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority. He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor. Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers. Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment. Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia. Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust.

Nissan working on something radical for Le Mans

With Porsche joining Audi and Toyota at the front of the LMP1 grid at Le Mans next year, Nissan is the next to be throwing its hat (and considerable R&D budget) into the proverbial ring. But only if it's allowed to do something radically different, according to the latest report in Car magazine.
Just what that means remains to be seen, but Nissan is reportedly in active discussions with the ACO (the body that governs the race) to see how far it can stretch the regulations. The ACO has taken an intriguingly different approach to equalizing performance, mandating the maximum amount of energy that can be used per lap instead of telling teams what kind of engines they can use. That's how Porsche is entering with a four-cylinder engine, Toyota with a V8 and Audi with a diesel six. But when it comes to the shape of the car itself, the rules are considerably more restrictive.
Unfortunately the rules would prohibit Nissan fielding the ZEOD RC (with its narrow front track) in the LMP1 class, relegating it instead to the Garage 56 slot for experimental racers (which the DeltaWing filled before). And the realities of endurance racing would effectively prohibit anyone from fielding an all-electric racer. Within those confines, though, Nissan is eager to find enough wiggle room to make something both visually and technically different from other LMPs. And if the ACO won't let it do so at Le Mans, it could turn to another race or series (like the Nürburgring 24) that would.

Are you the 2015 Nissan Versa facelift?

The current-generation Nissan Sunny - the overseas equivalent to the Versa sedan - has been around since 2010, and now it appears that Nissan has some small changes in store for it. Based on these small, dark and grainy photos from Chinese site, Auto Sohu, the Sunny could be set to receive a slight styling refresh.
From what we can tell, the biggest change will be to the headlights with the Sunny getting boomerang-style units similar those on current Nissan sedans in the US. We wouldn't be surprised to see these changes to carry over to our Versa sedan soon. Grille and fascia changes also seem to be in the works, but it's hard to make out any other changes from these images alone.