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Trophy Automotive says it’s unaware of any Nissan review

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Trophy Automotive Dealer cluster, the CA retail merchant below review by Nissan Motor Co. as a part of its investigation of ousted boss Andres Martinez Ghosn, says it’s unaware of such a review and maintains that its operations area unit cut loose any businesses involved within the scandal.

Trophy Automotive purchased 2 Nissan concerns as {part of|a a part of} a multiple dealership acquisition from an area dealer cluster in CA in Gregorian calendar month 2017 as part of a turnaround effort, a promotion firm representing chief executive officer Nasser Watar aforementioned in letter to Automotive News.

Trophy Automotive is totally in hand by Watar and his family, and its business is cut loose that of Al-Dahana, an organization conjointly in hand by Watar and Saudi man of affairs Khaled Al Juffali. The revelation came in an exceedingly letter on Wed issued on behalf of Watar by his New York-based promotion representative Terry Rooney, founder and chief executive officer of RooneyPartners.

Juffali could be a central figure within the breach-of-trust allegations brought against Ghosn. Japanese prosecutors aver that Ghosn organized payment of $14.7 million from a Nissan subsidiary to an organization in hand by Juffali to assist Ghosn settle innumerable greenbacks of private losses on currency swap contracts regarding his govt compensation.

Watar and Juffali area unit joint homeowners of Al-Dahana that, in turn, owns fifty % of Nissan Gulf, the regional distributor for Nissan and Infiniti in many geographical area countries.

Ghosn and Juffali have denied any misconduct or bribe theme.

Dealership franchises

Nissan’s increasing internal investigation of attainable misconduct associated with Ghosn is viewing the subsidization of some concern franchises within the U.S., a supply acquainted with the probe has aforementioned.

Trophy Automotive is below review as a part of that campaign, the person aforementioned. Trophy Automotive has not been defendant of any wrongdoing.

“We don’t seem to be tuned in to any review in reference to the 2 Nissan automobile dealerships in hand and operated by Trophy Automotive Dealer cluster,” Trophy Automotive’s letter aforementioned.

Nissan contains a team of individuals scouring the corporate for proof of attainable misconduct coupled to Ghosn’s long tenure as head of the manufacturer. an individual acquainted with the probe aforementioned Nissan is ordering particularly shut audits of operations within the Middle East, geographical region and Asia.

Ghosn was in remission Nov. nineteen and currently faces 3 indictments, 2 for allegedly concealing tens of innumerable greenbacks in delayed compensation and one for allegedly quickly transferring personal losses to Nissan in an exceedingly breach-of-trust case. Ghosn denies any wrongdoing.

In the wider Nissan heroic tale, RooneyPartners additionally represents the Khaled Juffali Company, the corporate in hand by Juffali that’s coupled to the breach-of-trust allegations against Ghosn.

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