Mr Kelly agreed to a $100,000 penalty, a five-year director ban and five-year suspension from practising or appearing before the commission as an attorney.The US financial regulator said:"From 2009 until his arrest in Tokyo in November 2018, Ghosn, with substantial assistance from Kelly and subordinates at Nissan, engaged in a scheme to conceal more than $90m of compensation from public disclosure, while also taking steps to increase Ghosn's retirement allowance by more than $50m.
The SEC added that Mr Ghosn and staff including Mr Kelly, created various means of structuring payment of the undisclosed retirement compensation, such as entering into secret contracts, backdating letters to grant Mr Ghosn interests in Nissan's long term incentive plan. They also changed the calculation of Ghosn's pension allowance to provide more than $50m in additional benefits
They misled Nissan's finance chief, and the company issued a"misleading disclosure" relating to the increased pension allowance, the SEC said.
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