Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan.
Ghosn was arrested in November for under-reporting his compensation in the company's financial statements over a period of five years. The auto giant said in a statement in November that "over many years" Ghosn and board director, Greg Kelly, had been under-reporting compensation amounts to the Tokyo Stock Exchange securities report.
Nissan added that, in regards to Ghosn, "numerous other significant acts of misconduct have been uncovered, such as personal use of company assets." The company said Ghosn had also made inappropriate investments.
On Monday, Nissan confirmed that both Ghosn and Kelly had been indicted for "violating the Japan Financial Instruments and Exchange Act, namely making false disclosures in annual securities report."
Prosecutors have also charged Nissan as a legal entity for the same violation, the company confirmed.
"Nissan takes this situation extremely seriously. Making false disclosures in annual securities reports greatly harms the integrity of Nissan's public disclosures in the securities markets, and the company expresses its deepest regret," Nissan said in a statement.
Ghosn, who headed the Renault-Nissan-Mitsubishi alliance, has previously denied the accusations.