Photo/IllutrationCarlos Ghosn, left, and Greg Kelly when they were Nissan Motor Co.’s chairman and a representative director, respectively (From Nissan Motor Co. website)

Tokyo prosecutors indicted Carlos Ghosn, Greg Kelly and Nissan Motor Co. on Dec. 10, the day the detention period for the two former executives of the automaker was set to expire.

They are charged with violating the Financial Instruments and Exchange Law over allegations that Ghosn, a former Nissan chairman, under-reported his executive remuneration over a five-year period in the automaker’s annual securities reports.

The indictments were handed down after prosecutors earlier in the day received a criminal complaint against Ghosn, 64, Kelly, a 62-year-old former representative director at Nissan, and the automaker from the Securities and Exchange Surveillance Commission (SESC).

The SESC handles matters related to the Financial Instruments and Exchange Law, and prosecutors likely consulted with SESC officials about legal interpretations in preparing for the Nov. 19 arrests of Ghosn and Kelly on suspicion of violating that law.

Prosecutors suspect that from fiscal 2010 to 2014, Ghosn only listed about half of his annual salary in Nissan’s annual securities reports, with about 5 billion yen ($44.5 million) kept off the books as deferred payments to be made to Ghosn after he left Nissan.

However, both Ghosn and Kelly, who was involved in handling entries of the remuneration, deny any wrongdoing, saying they were under no legal obligation to report the deferred payments.

The criminal complaint filed by the SESC apparently added legal strength to the prosecutors’ case, paving the way for the indictments.

The special investigation department of the Tokyo District Public Prosecutors Office also re-arrested Ghosn and Kelly later on Dec. 10 on the same suspicion of under-reporting executive remuneration for the years between fiscal 2015 and 2017.