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Nissan's Ghosn crisis

Ghosn's multimillion-dollar discretionary fund draws scrutiny

Managed in Dubai, Nissan's 'CEO reserve' dispensed $63m to associates

Yachts at a dock in Dubai. Nissan's "CEO reserve" was managed out of the Middle Eastern city.   © Reuters

TOKYO -- The breach-of-trust allegations against former Nissan Motor Chairman Carlos Ghosn have turned a spotlight on the automaker's CEO reserve, the discretionary fund from which Ghosn paid some $63 million to associates in the Middle East.

The fund, managed through Dubai-based subsidiary Nissan Middle East, was set up around December 2008 at Ghosn's request, according to a source familiar with the matter. It was apparently understood within Nissan as meant to cover large, unexpected expenses, such as providing monetary support after natural disasters.

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