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Police raid Renault HQ in probe of Carlos Ghosn

More trouble for the former executive.


French authorities raided the corporate headquarters of Renault on Wednesday, searching for evidence in the ongoing criminal investigation of former chairman Carlos Ghosn.

The raid was part of a probe that French authorities launched earlier this. Ghosn is facing allegations that he swiped money from Renault's corporate account under the guise of a sponsorship deal to pay for his lavish wedding party at Chateau de Versailles. For his part, Ghosn says he planned to repay the debit incurred by party.

However, Ghon's woes extend well beyond a Marie Antoinette-themed wedding party. Investigators are also scrutinizing spending by the Renault-Nissan joint-venture during Ghosn' tenor as CEO. Specifically, French authorities are looking at a connection between Ghosn and the official importer of Renault and Nissan vehicles in Oman after Renault flagged "certain payments” to the Middle-East-based company as suspicious.

In addition to those probes, authorities are also investigating spending by Ghosn on trips and private jets that might not have been related to his corporate responsibilities.

Ghosn has denied all allegations.

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