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Renault: no wrongdoing by Ghosn in compensation

In this May 12, 2016, photo, then Nissan Motor Co. President and CEO Carlos Ghosn attends a joint press conference with Mitsubishi Motors Corp. in Yokohama, near Tokyo. At left is Nissan Chief Executive Hiroto Saikawa, who became co-CEO with Ghosn in 2016 and then sole chief last year. The surprise arrest of Nissan’s former chairman Carlos Ghosn on charges of falsifying financial reports is providing a window into possible corporate intrigue at the Japanese automaker. (AP Photo/Eugene Hoshiko)

PARIS (AP) — Renault says an internal investigation has found no wrongdoing in the awarding of compensation to CEO Carlos Ghosn, who has been indicted in Japan on charges of falsifying financial reports.

Following a board meeting, the French carmaker said in a statement Thursday that the preliminary results of a review of Ghosn’s compensation for the years 2015-18 showed it was in compliance with French law.

Ghosn, Nissan’s former chairman, was arrested last month in Japan. He and Nissan were charged Monday with violating financial laws by underreporting Ghosn’s pay by about 5 billion yen ($44 million) in 2011-2015.

While he was fired at Nissan, Ghosn kept his position at Renault, though deputies are filling in during his absence. Renault’s board said it does not have “information concerning Carlos Ghosn’s defense.”

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