Nissan, ex-CEO and former Brentwood exec settle SEC charges

Nissan, the auto maker’s former CEO and a former executive from Brentwood have settled civil fraud charges brought by the Securities Exchange Commission related to the alleged underreporting of executive income.

Nissan will pay a $15 million fine per the agreement. In addition, former CEO Carlos Ghosn will pay a $1 million fine and Greg Kelly, a former high-ranking exec who resides in Brentwood, will pay a $100,000 fine. According to the settlement, Ghosn also is banned from serving as an officer or director of a company for 10 years. Kelly is banned from serving as an officer or director for five years.