Japanese prosecutors indict Carlos Ghosn, Nissan for underreporting compensation

The executive had been arrested last month but not formally charged until now.

Former Renault-Nissan Alliance chief Carlos Ghosn has finally been formally charged by Japanese prosecutors for allegedly underreporting his income.

The superstar auto executive was initially arrested last month but not officially charged until now.

Prosecutors have also filed charges against former executive Greg Kelly and Nissan itself for their respective roles in the alleged scandal. Ghosn and Kelly have reportedly denied the allegations, according to Reuters, though they have not yet made any public statements.

"Making false disclosures in annual securities reports greatly harms the integrity of Nissan's public disclosures in the securities markets, and the company expresses its deepest regret," Nissan said in a statement.

Ghosn is said to face up to 10 years in prison and hundreds of thousands of dollars in fines.