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Nissan's Ghosn crisis

Nissan's Ghosn arrested for alleged financial misconduct

Automaker prepares to sack car boss, claiming misuse of funds

Carlos Ghosn, chief of Nissan and Renault (Photo by Manami Yamada)

TOKYO -- Carlos Ghosn was on Monday arrested by Tokyo prosecutors for alleged financial misconduct as Nissan Motor, the company he has led for almost 20 years, said it was preparing to sack him as chairman.

The arrest follows allegations by Nissan that it had uncovered "serious misconduct" by Ghosn, including the misuse of company funds. His "prompt" removal as chairman of the Japanese car company that he helped to turn around nearly two decades ago would be proposed to the board on Thursday, the group said.

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