Nissan will pay $15 million to settle allegations that it hid more than $140 million of its former chairman’s retirement benefits from investors.
That former chairman, Carlos Ghosn, will pay $1 million to settle the allegations, The Associated Press reports.
Additionally, Greg Kelly, a former Nissan director based in Middle Tennessee, agreed to pay a $100,000 penalty.
According to the AP, Nissan and its former officials settled the charges without admitting or denying the allegations from the Securities and Exchange Commission.
Ghosn and Kelly also are facing charges in Japan, where Nissan is based. Nissan North America is based in Franklin.