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Nissan's Ghosn crisis

Nissan and Ghosn settle with SEC over $140m in concealed pay

Ex-CEO barred from executive jobs in US for 10 years

Former Nissan Motor Chairman Carlos Ghosn, left, and former Nissan executive Greg Kelly arrive for a pre-trial hearing at the Tokyo District Court on June 24. (Photos by Karina Nooka) 

NEW YORK -- Nissan Motor and its ex-Chairman and CEO Carlos Ghosn will pay a combined $16 million to settle fraud charges alleging they hid compensation to the former chief, the U.S. Securities and Exchange Commission announced Monday.

The Japanese automaker agreed to pay $15 million while Ghosn will pay $1 million. The securities regulator said Nissan concealed $140 million in compensation and benefits to be awarded to Ghosn upon his retirement.

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