2018-11-22nbcnews.com

Nissan Motor Co. fired Carlos Ghosn as chairman Thursday in a dramatic end to the powerful executive's nearly two decade long reign at the Japanese automaker after his arrest for alleged financial improprieties.

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Nissan said in a statement filed to the Tokyo Stock Exchange that its investigation uncovered misuse of company investment funds and expense money for personal gain.

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Another Nissan executive, Greg Kelly, was arrested on suspicion of collaborating in the wrongdoing and also will be dismissed as a representative director, Nissan said. Their replacements will be decided later, it said.

Ghosn, 64, is suspected of under-reporting $44.6 million in income from 2011 to 2015, according to Tokyo prosecutors.

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Ghosn has been held since his arrest Monday at a Tokyo detention center, under the same Spartan conditions as other detainees, Tokyo deputy prosecutor Shin Kukimoto told reporters Thursday. He gave few details about the case.



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