financetom
Business
financetom
/
Business
/
Nissan boss Carlos Ghosn joins Vijay Mallya in list of executives fighting extradition
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nissan boss Carlos Ghosn joins Vijay Mallya in list of executives fighting extradition
Jan 1, 2020 3:57 AM

Ousted Nissan boss Carlos Ghosn said on Tuesday he had fled to Lebanon to escape a "rigged" justice system in Japan, where he believed he would not get a fair trial.

Share Market Live

NSE

Ghosn, who faces four charges, including hiding income and enriching himself through payments to dealerships in the Middle East, denies the allegations against him. His stunning escape from Japan makes him join the ranks of other former or current corporate executives — the list includes Indian businessman Vijay Mallya — with pending extradition requests by foreign countries.

INDIAN LIQUOR AND AVIATION TYCOON VIJAY MALLYA

The Indian tycoon faces fraud charges resulting from the collapse of his defunct Kingfisher Airlines. Indian authorities have charged Mallya with financial crimes and allege he took out $1.4 billion in loans for Kingfisher from Indian banks which he had no intention of repaying.

Mallya, 64, has denied all wrongdoing and argued the case against him was politically motivated. India demands Mallya's extradition from Britain, where he moved in 2016. A London court in December 2018 ruled Mallya should be extradited. But another court in July permitted him to appeal against the extradition and the case in pending.

FILE PHOTO: Indian tycoon Vijay Mallya

FORMER VOLKSWAGEN AG CEO MARTIN WINTERKORN

Winterkorn in March 2018 was indicted on four felony charges in connection with VW's diesel emissions scandal. U.S. prosecutors in Detroit issued a warrant for his arrest in May 2018, but Germany-based Winterkorn is unlikely to face the charges as Germany does not extradite its citizens to the United States.

Winterkorn, 72, was indicted on fraud and conspiracy charges. Known for his authoritarian management style, he was at the helm of the German automaker from 2007 until his ouster in 2015.

VW in September 2015 disclosed it had cheated on emissions tests for at least six years using secret software. The disclosure damaged the company's reputation around the world and forced VW to spend more than $25 billion in the United States to settle claims.

HUAWEI CFO MENG WANZHOU

The chief financial officer of Huawei Technologies Co Ltd was arrested at Vancouver International Airport on Dec. 1, 2018, at the request of the United States, where she is charged with bank fraud and accused of misleading a bank about Huawei Technologies' business in Iran. She has been under house arrest since.

Meng, 47, denies the charges and maintains she is innocent, while the United States is requesting her extradition. Meng's legal team contested her extradition in Canadian court, arguing the United States is using it for economic and political gain.

An extradition hearing will begin on Jan. 20, 2020 in a federal court in Vancouver.

MALAYSIAN FINANCIER LOW TAEK JHO

Malaysian businessman Low Taek Jho, better known as Jho Low, is on the run from Malaysian and U.S. authorities. He is alleged to be the mastermind behind the siphoning of billions of dollars from a Malaysia state fund.

Low has been charged in Malaysia and the United States over the alleged theft of $4.5 billion from the so-called 1MDB fund, set up by former Malaysian Prime Minister Najib Razak.

Low has denied wrongdoing and his whereabouts are unknown. He has been granted asylum in a third country, his spokesman has said, declining to identify the country.

Malaysian officials have said Low was believed to be hiding out in China. Malaysian police in November said Low had tried to purchase properties in Cyprus under a different name.

BRITISH TECH BILLIONAIRE MICHAEL LYNCH

The United States earlier this month formally requested the extradition of Lynch, a British tech entrepreneur, who sold his data company Autonomy to Hewlett Packard in an ill-fated $11.1 billion deal, to face charges including securities fraud, wire fraud and conspiracy.

The U.S. embassy in London submitted the extradition request for Lynch to stand trial in the United States.

Lynch, once hailed as Britain's answer to Bill Gates, is currently battling the American IT giant in London's High Court. HP seeks damages of $5 billion in damages from Lynch and another former executive, alleging they inflated the value of Autonomy before selling it.

Lynch has denied the accusations, saying HP mismanaged the acquisition. He is counter-suing for loss and damages.

Source: Reuters.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Digihost Up 11% as It Closes a US$6.6 Million Private Placement of Share Units
Digihost Up 11% as It Closes a US$6.6 Million Private Placement of Share Units
Feb 7, 2025
11:17 AM EST, 02/07/2025 (MT Newswires) -- Digihost Technology ( DGHI ) shares were last seen up 11% after the company on Friday said it closed a private placement of share units that raised US$6.6 million. The company placed 2.5-million million units in the financing, with each priced at US$2.64 each and made up of a share and a three-year...
Amazon cuts diversity reference from annual report as firms roll back DEI
Amazon cuts diversity reference from annual report as firms roll back DEI
Feb 7, 2025
(Reuters) -Amazon.com eliminated a reference to inclusion and diversity in its annual report filed on Thursday, after telling employees in December that it was winding down diversity programs as part of corporate America's broader retreat from such policies. Some of the biggest U.S. businesses have been scaling back their diversity initiatives, years after pushing for more inclusive policies in the...
Cloudflare Back on Track After Better-Than-Expected Q4 But Some Caution Still Needed, Oppenheimer Says
Cloudflare Back on Track After Better-Than-Expected Q4 But Some Caution Still Needed, Oppenheimer Says
Feb 7, 2025
11:12 AM EST, 02/07/2025 (MT Newswires) -- Cloudflare ( NET ) had a lot to crow about after reporting its Q4 results but not enough to justify the most optimistic expectations for the cloud-services company over the next 12 months, Oppenheimer analyst Timothy Horan said Friday in a new research note. The company overnight beat consensus estimate for the three...
Motorola refused permission to appeal UK emergency services network case
Motorola refused permission to appeal UK emergency services network case
Feb 7, 2025
LONDON, Feb 7 (Reuters) - Motorola was refused permission to appeal against the British antitrust regulator's findings that it was making supernormal profits on its contract to provide communications to Britain's emergency services. The Competition and Markets Authority (CMA) said on Friday the Court of Appeal had unanimously dismissed Motorola's application for permission to appeal. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved