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.
