French Police Raid Renault HQ Over Ghosn Wedding Probe
Muhammad Irfan Published July 03, 2019 | 04:56 PM
French police on Wednesday raided the headquarters of Renault while probing a lavish wedding party thrown by ex-CEO Carlos Ghosn at Versailles Palace, the French carmaker and legal sources said
Paris, (APP - UrduPoint / Pakistan Point News - 3rd Jul, 2019 ) :French police on Wednesday raided the headquarters of Renault while probing a lavish wedding party thrown by ex-CEO Carlos Ghosn at Versailles Palace, the French carmaker and legal sources said.
Officers in charge of investigating corruption and financial crimes searched Renault's headquarters in the western Paris suburb of Boulogne-Billancourt, a source close to the investigation said.
A Renault spokesman confirmed the search was under way and said the company was "fully cooperating with the authorities".
Ghosn, the big-spending former chief of both Renault and its Japanese partner Nissan who is awaiting trial in Japan on charges of financial misconduct, hired the entire Palace of Versailles when he got married in October 2016.
He is suspected of wrongly obtaining use of the sumptuous home of 17th century "Sun King" Louis XIV in exchange for a sponsorship deal between the state-owned palace and Renault.
Versailles waived the usual 50,000-euro rental fee for the Marie Antoinette-themed wedding in what could amount to misuse of company resources, as well as tax evasion, if the benefit was not declared to French authorities.
Ghosn's lawyer Jean-Yves Le Borgne, told AFP in February that the businessman "thought it was free" because he was never billed by Versailles and was ready to pay the money back.
In June, police searched Ghosn's home outside Paris for evidence in the probe.
The 65-year-old former auto titan was arrested in Japan in November as he stepped off his private jet at Tokyo airport.
He was kept behind bars for over 100 days before being granted bail and sacked from all his management roles.
Ghosn is accused of under-reporting millions of Dollars in income at Nissan and of of using company funds for personal expenses -- charges he denies.
His dramatic downfall stunned the business world and laid bare tensions in the alliance between Renault, Nissan and their smaller Japanese partner Mitsubishi.
Related Topics
Recent Stories
Finance Minister calls for reforming tax system to improve country's economy
PM calls for joint efforts to check smuggling, power theft
Infinix Unveils a Vibrant New Chapter with Wahaj Ali: The face of Infinix NOTE 4 ..
PM makes two more appointments in his team
Terrorists of Shangla suicide attack will be brought to justice: Interior Minist ..
Applications Open for 6th Cycle of Start-up Incubation under the National Expans ..
Join vivo's "Light it Up" Social Media Contest in Ramadan to Win vivo V30 5G
Pakistan v New Zealand T20I series: Tickets to go on sale from today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
Today Gold Rate in Pakistan 29 March 2024
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
More Stories From World
-
Sound of the Underground: the busker aiming to play every London Tube stop
23 minutes ago -
Israeli strikes kill 42 in Syria's Aleppo province
43 minutes ago -
Calls for 'smartphone free' childhood grow in UK
1 hour ago -
Russia hits Ukraine energy sector in overnight attack
1 hour ago -
A-bomb saga 'Oppenheimer' finally opens in Japan
1 hour ago -
Titian's masterpiece "Flora" breathes vibrancy into Sino-Italian art exchange
1 hour ago
-
Beijing International Film Festival to open mid-April
1 hour ago -
China's overnight Shibor interbank rate decreases Friday
2 hours ago -
Tokyo stocks end higher tracking Wall Street gains
2 hours ago -
Boao forum urges global cooperation in energy transition
2 hours ago -
China to export homegrown tunnel-boring machine to Italy
2 hours ago -
Over 9 pct of Mongolia's livestock die in cold winter
2 hours ago