Court orders Carlos Ghosn to surrender luxury yacht in fraud case

Carlos Ghosn led Nissan for years. He left, or rather vanished, amid a major scandal involving serious allegations of embezzling millions of dollars.

Fearing the harsh conditions of a Japanese prison, Ghosn fled from Hokkaido, hidden in a double bass case. Hired professionals meticulously planned and executed the entire operation. With their help, Ghosn managed to escape to Lebanon, where he has remained out of reach of the justice system for years.

Legal proceedings in his case are still ongoing, leading to further developments. The latest verdict addresses, among other things, tangible assets purchased by Ghosn with Nissan's corporate funds.

According to the court, the former brand leader used shell companies to siphon millions from the company, which he then invested in personal assets. One such asset is the yacht Custom Line Navetta 37, which the court has ordered returned to Nissan.

This is one way the Japanese brand is attempting to recover at least part of the misappropriated wealth. However, this battle has not been easy and has persisted for years. The Japanese also wish for the former chief to be punished for the crimes he is alleged to have committed. Given that Ghosn remains elusive, this is undoubtedly a challenging task.