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MAKINGS OF A CONSPIRACY

In Japan, Ghosn’s undoing seemed like a straightforward case of greed and hubris. But half a world away in France—and in other corners of the international automotive industry—the arrest immediately triggered more sinister suspicions about a conspiracy to frame the foreigner. And as the pieces of that puzzle fell into place, a much different picture emerged.

News of Ghosn’s arrest broke just before lunchtime in Paris, on a bright but chilly Monday. Renault was stunned. So was everyone in France. At Renault headquarters, executives groped in the dark for details, no matter how scant, about the prosecutor’s charges and Nissan’s accusations.

The man handed the unenviable task of filling in Renault’s top brass was ...

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