Carlos Ghosn Is Suing Nissan For $1 Billion

Carlos Ghosn has filed a $1 billion lawsuit against Nissan. In a report byReuters, the former Nissan chairman is accusing the automaker, along with 12 individuals and two other companies, of crimes including defamation, slander, libel, and fabrication of material evidence.

Ghosn hasn't shied away from the public eye since escaping Japan in 2019hidden in a music boxafter he was arrested in November 2018.

The lawsuit is said to mark his first such challenge to the charges. "We have a long battle in front of us. We are going to fight it to the end," said Ghosn, who now resides in Lebanon.

Ghosn escaped Japan in December 2019 following his arrest the previous year.Nissan accusedthe 69-year-old auto tycoon of under-reporting his compensation and spending company assets for personal use.

It was in 1999 when Ghosn became Nissan's chief operating officer (COO) following the forming of the Renault-Nissan Alliance. He immediately turned the company around through his "Nissan Revival Plan" amid the heyday of JDM favorites such as theR33 Skylineand Silvia S14.

Part of the revival plan was to conduct cost-cutting measures, which should eventually lead to ceasing the development of its sports cars. But it wasGhosn who instructed engineersto continue the development of this two-door model known today as the 350Z. After two generations, this car is now theNissan Z.