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Nissan chairman Carlos Ghosn arrested

Ina high-profile arrest, the auto industry’s leading figure and Nissan chairman , Carlos Ghosn, was taken into custody by Japanese prosecutors, for swindling money from Nissan and other financial misconduct on his part.

At the time of arrest, Ghosn was  serving as chief executive of Renault, chairman of Nissan and chairman of the board at Mitsubishi.

Ghosn was booked along with representative director Greg Kelly for failing to declare $44 million on Nissan’s security reports submitted over five years since 2011.

Meanwhile Nissan said it  will cooperate with Tokyo prosecutors and their investigations into Ghosn after a whistle-blower tipped that the executive was misrepresenting his salary and using company assets for his personal purpose.