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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 GT-R drag races Swiss fighter jet

Proving that speed is fun in any language, Nissan's German arm recently pitted a GT-R up against an ex-Swiss Air Force fighter jet, called the Hawker Hunter. Now the idea of a car-versus-plane drag race is nothing new, but this is the first time we can recall a GT-R being involved.
While this Nissan video is almost a month old, we're pretty sure you won't be disappointed by the action, which shows the two high-speed machines racing along the two-kilometer runway. We don't want to ruin the suspense, so scroll down for the latest matchup of sports car versus fighter jet.

Nissan announces limited-edition 2014 GT-R in Midnight Opal

Nissan has unveiled the 2014 GT-R Special Edition. Finished in Midnight Opal paint, the GT-R SE will be limited to just 100 units worldwide, with 50 earmarked for the US.
With sales slated to start this fall, the Special Edition of the 545-horsepower GT-R tacks $6,000 on to the $105,590 price of a GT-R Premium. The hand-applied Midnight Opal paint isn't the only special item, though. Forged RAYS wheels are included in a ten-spoke design that's never before made it to American shores, and there's a dry carbon-fiber rear spoiler, similar in design and appearance to the one found on the GT-R Black and Track Editions. Finally, a gold-plated plaque has been fitted to single out the GT-R Special Edition from the very fast herd.
US sales of the GT-R SE are slated to begin in September. Scroll down for the official press blast.