Top Hedge Fund News, Member Posts, Hedge Fund Daily Indices and more!

4yrs ago Hedge Fund dealbreaker Views: 238

You can't make this shit up, folks ...

WHAT'S IN THE BOX?!

More than a year after his arrest for financial crimes, namely receiving $140M more in compensation than reported to investors according to Japanese officials and the SEC, former Nissan CEO got his wish for freedom from Japanese custody for the holidays.

On Monday, Ghosn made it to Lebanon, where he holds citizenship, and which, conveniently, rarely extradites criminals to Japan. Upon his arrival, once the JetBlue WiFi turned back on, Ghosn explained via email that no, he didn’t “escape,” but rather was liberated from a corrupt judicial system.

Ghosn claims Japanese officials were conspiring to prevent him and his fellow Francophiles from further integrating Nissan with Renault.

You can’t handle the truth

In Carlos’ defense, Japanese prosecutors do have a near 100% success conviction rate, due to procedures that are largely frowned up in most western countries, like, say, admitting evidence that may or may not have been gathered without a warrant. Hint: it was definitely gathered without a warrant. 

Ghosn had been under 24-hour surveillance and wasn’t allowed to leave his house for more than a night, unless he had a judge’s sign off. To make matters worse, (or better, depending on who you ask) he also wasn’t allowed to see or speak to his wife, aside from a one-hour video call in November, and on Christmas. 

So, how’d he get out?

Here’s where things get weird. Reports indicate that Ghosn escaped by hiding in an instrument case used by the Christmas band that played at his house over the holidays. That would explain the cello under the covers on Ghosn’s side of the bed. 

It was also reported that Ghosn’s escape took weeks of planning with a team of accomplices including his wife ... and presumably someone called “Q.” Ghosn allegedly got out of Japan under a false identity, and was able to enter Lebanon with just an ID card, as his passports (all three of them) were confiscated by Japanese authorities. 

The bottom line ...

Aside from Japanese feds, who are looking worse than Kevin McCallister’s parents right now, France will likely be put in the toughest position moving forward. According to Ghosn’s wife, Carlos wants to be tried in Paris.

That’s where things get tricky. Emmanuel Macron is trying to mend relations in the Renault-Nissan alliance but traditionally France rarely extradites its citizens outside of the EU ... which is exactly what Japan would like him to do, were Carlos to go wheels-down in Paris. Sounds like Emmanuel is going to have to consult his spiritual coach and take a long look in his cigarette-smoke-stained mirror. 

Ghosn Flees to Lebanon to Escape ‘Rigged’ Japan Legal System [Bloomberg]


Today's Hedge Fund Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.