Passersby are silhouetted as a huge street monitor broadcasts news reporting ousted Nissan Motor chairman Carlos Ghosn's indictment and re-arrest in Tokyo, Japan December 10, 2018. REUTERS/Issei Kato
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Carlos Ghosn and Nissan Motor Co. were indicted in Japan Monday for understating the high-flying car executive's income by $43 million, as Tokyo prosecutors pushed ahead with the criminal investigation that has shaken the global auto industry. Former Nissan representative director Greg Kelly was also indicted, three weeks after he and Ghosn were arrested in Japan and accused of financial crimes. The shock arrest of Ghosn has escalated tensions between Nissan and partner Renault SA, whose car alliance -- the world's largest -- has been held together by the executive for almost two decades.Shares of Nissan declined 2.9 percent in Tokyo and have lost 6 percent since Ghosn's arrest.Here's how Ghosn's legal process could play out: Ghosn will remain in custody as prosecutors continue to investigate additional suspected crimes. Nissan, which Ghosn helped resurrect by uniting it with Renault in an alliance almost two decades ago, conducted a months-long probe into Ghosn's financial reporting and alleged misuse of company assets.Renault appeared to have been blindsided by Ghosn's arrest and the allegations that have drifted out.
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