Ousted Nissan Motor Co. chairman Carlos Ghosn reportedly used the Japanese automaker's money to buy personal homes in Rio de Janeiro and Beirut and to pay his sister for consulting jobs she did not perform.

Nissan voted Thursday to remove Ghosn from his chairman post, which he had held since June 2001. Ghosn was arrested Monday in Tokyo on suspicion of falsifying financial reports and other corporate misconduct.

Nissan's internal investigation charged Ghosn with under-reporting his income over many years and for using company capital and expenses for personal use...

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Misuse Of Company Funds For Personal Homes, Nepotism By Carlos Ghosn May Put Nissan-Renault-Mitsubishi Alliance At Stake

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