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How Ex-Nissan chief made escape to Beirut

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ANKARA, Turkey – Charter flights that spirited ex-Nissan chief Carlos Ghosn from Japan to Istanbul and from there to Beirut – an escape made possible with the help of an airline employee who falsified records. Security camera footage reportedly showing he simply walked out of his Tokyo home hours before fleeing the country.

Details emerged Friday of the bizarre path to freedom that allowed the ex-Nissan boss to jump $14 million bail, seemingly under the noses of Japanese authorities, and evade charges of financial misconduct that could carry a jail sentence of up to 15 years.

The improbable weekend escape has confounded and embarrassed Japanese authorities, even setting off wild speculation that Ghosn was carted off inside a musical instrument case from his home, which was under 24-hour surveillance.

But on Friday, Japanese public broadcaster NHK TV cited investigative sources as saying security footage showed he simply walked out of the house alone around noon on Sunday. Details also emerged about the route the fallen auto industry executive took to Lebanon, where he grew up and is considered something of a national hero.

Turkish airline company MNG Jet said that two of its planes were used illegally in Ghosn’s escape, first flying him from Osaka, Japan, to Istanbul, and then on to Beirut, where he arrived Monday and has not been seen since.

It said a company employee had admitted to falsifying flight records so that Ghosn’s name did not appear on them, adding that he acted “in his individual capacity” without MNG Jet’s knowledge.

The company said it launched an investigation after learning from media reports that the planes were for Ghosn and not the officially declared passengers.

“The two leases were seemingly not connected to each other. The name of Mr. Ghosn did not appear in the official documentation of any of the flights,” the company said in a statement. It did not say who the jets were leased to or identify the employee it said aided Ghosn’s escape.

Lebanese authorities have said Ghosn entered the country legally on a French passport, though he had been required to surrender all three of his passports to his lawyers under terms of his bail. He also has Brazilian and Lebanese citizenship.

Interpol issued a wanted notice on Thursday for Ghosn, but Japan has no extradition treaty with Lebanon and it appeared unlikely he would be handed over.

The plane carrying Ghosn landed at Istanbul’s Ataturk Airport, which is closed to commercial flights and used only for cargo and private flights, the Interior Ministry said. “A transfer occurred in the cargo section,” of the airport, spokesman Ismail Catakli said. “In this way, Turkey was used as a transit point.”

A cargo company employee was aboard the flight to Beirut and immediately returned to Istanbul aboard the same jet, Turkey’s Hurriyet newspaper said. The employee was one of seven people detained by Turkish authorities investigating how Ghosn passed through Turkey. Two were released Friday while the five others were ordered arrested, the state-run Anadolu news agency said.

Lebanese Justice Minister Albert Serhan told The Associated Press in an interview that Lebanon “will carry out its duties,” suggesting for the first time that the automotive titan may be brought in for questioning. But he added that Ghosn entered the country on a legal passport and appeared to cast doubt on the possibility Lebanon would hand Ghosn over to Japan.

On Thursday, Ghosn issued a statement – his second this week – seeking to distance his Lebanese wife and family from any role in his escape.

“The allegations in the media that my wife Carole and other members of my family played a role in my departure from Japan are false and misleading. I alone organized my departure. My family played no role,” he said.

Ghosn was set to go on trial in Japan in April. In a statement Tuesday, he said he fled to avoid “political persecution” by a “rigged Japanese justice system.” He has promised to speak with reporters next week.

His lawyer in France, Francois Zimeray, told NHK that he was in frequent contact with Ghosn since he arrived in Lebanon, and Ghosn appeared to be filled with “a fighting spirit.” Ghosn was eager to start clearing his name at the news conference next week, Zimeray said.

Ghosn, who grew up in Beirut and frequently visited, has close ties to senior politicians and business stakes in a number of companies in Lebanon. People take special pride in the auto industry executive, who is credited with leading a spectacular turnaround at Nissan beginning in the late 1990s and rescuing the automaker from near bankruptcy.

Ghosn, who is charged in Japan with under-reporting his future compensation and breach of trust, has repeatedly asserted his innocence, saying authorities trumped up charges to prevent a possible fuller merger between Nissan Motor Co. and Renault.

 

BY Suzan Fraser And Yuri Kageyama

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Canada Goose to get into eyewear through deal with Marchon

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TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.

The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.

The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.

Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.

Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.

Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GOOS)

The Canadian Press. All rights reserved.

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A timeline of events in the bread price-fixing scandal

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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

The Canadian Press. All rights reserved.

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TD CEO to retire next year, takes responsibility for money laundering failures

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TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.

Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.

The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.

As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.

TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.

TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.

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