Ex-Nissan Boss Carlos Ghosn To Have His Superyacht Seized, if Authorities Can Find It

Carlos Ghosn, the years-long fugitive former boss of the Nissan Mitsubishi Renault Alliance, is a good example in this sense. Having fled Japan in 2019 while on bail and under strict orders not to leave the country while he was being investigated under misconduct and fraud charges, he's been living in his home-country of Lebanon ever since.

Ghosn was arrested at the height of his career – and popularity – over claims that he'd siphoned money from Nissan to fund his exorbitant, globe-trotting lifestyle. If reports in the French media are any indication, the fact that he's trapped in a small country or, even more, trapped inside his luxurious mansion there without ever looking forward to the possibility of leaving it again, is an even harsher punishment than doing jail time or having all his assets seized.

He can't do much for the former except to keep hiding, but as far as the latter goes, he's already expressed an intention to fight international authorities every step of the way. The High Court of the British Virgin Islands has ruled in favor of Nissan, ordering Ghosn to return his 2017 superyacht and $32 million in damages, AutoNews reports, after getting their hands on the ruling.

According to the ruling, the superyacht was acquired after Ghosn set up an elaborate network of shell companies with money from Nissan. He might be the owner of the superyacht, though not officially so on paper, but it was bought with Nissan's money. Hence, it must go back to the automaker.

Shachou and its disputed ownership

Ghosn took delivery of the superyacht in 2017, just one year before his surprise arrest and at a time when, supposedly, he imagined himself untouchable. Compared to the kind of superyachts oligarchs and billionaires favor, this one is teeny-tiny and might not seem impressive: it's a limited-series Custom Line Navetta superyacht he dubbed Shachou, which apparently means "the Boss" or "President" in Japanese. Ghosn wasn't one for subtleties, that much is certain.

According to the ongoing lawsuit, which is just one of the many Nissan is pursuing against the former boss, Ghosn used funds from the Nissan CEO Reserve Fund to buy it. The money went through a network of companies set up in Ghosn's or his associates' names before ending up in companies that he owned.

Shogun Investments is named in the lawsuit, as is Beauty Yachts Pty Ltd., which acted as the buyer's representative in the transaction with the shipyard. One is owned by Ghosn and his son, while the other is in the name of Ghosn's wife. No wonder then that the judge ruled that Ghosn had used Nissan's money for purposes other than Nissan's interests.

The ruling orders Ghosn to hand over the superyacht and $32 million extra as damages. In a statement to the same media outlet, Ghosn says he will "obviously [be] appealing" the ruling since he is an innocent man. To put that statement into proper context, Ghosn has been claiming innocence since his 2018 arrest, saying that he's being turned into a scapegoat by darker, more powerful, and sinister forces at the automaker.

Shachou, a limited-edition Italian classic

The Shachou is the second out of a 15-unit limited series by Custom Line, the now-discontinued Navetta 37. Now renamed Twig, it offers a total length on water of 37 meters (121 feet), with a beam of 8 meters (26.2 feet) and a gross tonnage of 289 GT.

With an exterior by Zuccon International Project and interiors by Ferretti Yachts, it offers accommodation for 10 guests across five suites and four separate crew cabins.

Shachou doesn't have the kind of ultra-deluxe amenities that have become standard on larger vessels, but it offers uncompromising, elegant Italian styling and outstanding performance in a lighter, much more convenient package. It also affords discretion and privacy by size alone.

Powered by twin MTU diesel engines, it can max out at 16.5 knots (19 mph/30.5 kph) and has a range of 3,000 nautical miles (3,452 miles/5,556 km) at a cruising speed of 10 knots (11.5 mph/18.5 kph).

No word on when or why Shachou was renamed Twig or if that happened with a change in ownership, but marine tracking websites place it outside of Lebanon as of a couple of months ago, when it stopped broadcasting its position altogether. In Russian-oligarch-speak, it "disappeared" because even moored vessels have to broadcast their position on AIS at all times.

In other words, even if the courts have sided with Nissan in this particular matter and even if they continue to do so after the appeal, Nissan has about as much chance at getting their hands on the superyacht as they do on Ghosn. Meaning, none, if neither moves out of Lebanon.