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The SEC looked into Why and How Carlos Ghosn hid $140M in compensation from Nissan. While it hasn’t revealed all the details because they have bearing on the charges Japan has laid against Mr. Ghosn, it provided some flavor of what went on.

The motivation:

"Ghosn became concerned about criticism that might result in the Japanese and French media if his total compensation became publicly known"

The How:

The SEC uncovered a long trail of schemes. Here are just a few.

“Every year from 2011, a senior employee ‘would prepare for Ghosn's approval a document summarizing Ghosn's total fixed compensation, his paid compensation that was being disclosed, and his remaining compensation that was not paid and was not being disclosed," the complaint said. About $94 million of Ghosn's undisclosed compensation was determined in this manner...’”

“While they considered paying this out using Nissan subsidiaries, they instead decided to postpone the payments for a later undisclosed date...’”

“The total remuneration, paid remuneration and postponed remuneration were tracked each year in a spreadsheet...”

“A Nissan employee ‘showed or provided to Ghosn the reports he prepared each fiscal year to set Ghosn's total, paid, and postponed compensation, as well as the spreadsheets he maintained and updated each year that tracked the same information...’”

The whole thing reads like a handbook in corporate corruption.

Here’s a link to the full article: How Carlos Ghosn allegedly hid $140 million in compensation from Nissan
 
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