Reported about 2 months ago
Billionaire Carl Icahn and his company, Icahn Enterprises, have reached a settlement with U.S. regulators for failing to disclose personal loans secured by company securities. The Securities and Exchange Commission (SEC) charged Icahn with not reporting pledges of Icahn Enterprises' securities, which were used as collateral for loans worth billions. As part of the settlement, Icahn will pay a total of $2 million in civil penalties while neither party admits to wrongdoing. This resolution comes amid scrutiny following claims of inflated asset valuations at Icahn Enterprises.
Source: YAHOO