Nissan Motor Co. and Carlos Ghosn — who headed an auto-making partnership of Nissan, Mitsubishi and Renault — settled U.S. regulators’ claims that they failed to disclose more than $140 million in pay to the former executive.

Nissan was fined $15 million over the allegations, while Ghosn, 65, was hit with a $1 million penalty, the Securities and Exchange Commission said in a Monday statement.

Nissan and Mitsubishi Motors both exited the California for Tennessee. Nissan, which owns a 34% stake in Mitsubishi, relocated its domestic headquarters in 2006 to the Nashville area from Gardena. Mitsubishi left Cypress for Franklin, Tenn., in August, based on lowering operating costs and being closer to its operational partners. Ghosn was chairman of the Nissan-Mitsubishi-Renault trio until late last year.

The SEC said the Japan-based automaker granted Ghosn broad authority over the company’s pay decisions, with the startling power to set compensation for himself, other executives and directors. That ultimately led to Ghosn — with substantial assistance from his subordinates — excluding more than $90 million in his own pay from Nissan’s public statements to investors. Ghosn additionally took steps to increase his retirement allowance by $50 million, according to the regulator.

The SEC also reached a settlement with former Nissan director Greg Kelly, who agreed to pay a $100,000 fine over allegations that he helped hide Ghosn’s pay. Ghosn was barred from serving as a director or officer of a public company for 10 years, while Kelly agreed to a five-year ban. Nissan, Ghosn and Kelly, 63, all resolved the cases without admitting or denying wrongdoing.

Nissan, based in Yokohama, said in a statement that it cooperated fully with the SEC and has “promptly implemented remedial acts to prevent recurrence.” The company laid blame on Ghosn and Kelly, saying the executives’ alleged misconduct “serves as the basis for Nissan’s liability.”

Lawyers for Ghosn and Kelly said the decision to settle with the SEC should have no bearing on separate Japanese cases against their clients.

Ghosn and Kelly face trials in Japan stemming from their alleged roles in masking pay. Japanese prosecutors also have accused Ghosn of transferring personal losses to Nissan and using company funds for financial transactions in the Middle East.

Ghosn’s decision to conceal his pay stemmed from a 2010 Japanese rule that forced executives to disclose their total compensation. Instead of complying — and risking negative media coverage — Ghosn crafted various strategies to obscure how much he received from Nissan, according to the SEC. Tactics included entering into secret contracts, backdating letters granting himself cash bonuses and manipulating his pension allowance, the regulator said.