Investor Carl Icahn charged with hiding billions in loans
Headline from KVIA El Paso
By Reuters and Lucy Bayly, CNN New York (CNN) — Billionaire investor Carl Icahn and his firm Icahn Enterprises have settled charges for failing to disclose pledges of the company’s securities as collateral for billions of dollars in personal loans, US regulators said Monday.
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By Reuters and Lucy Bayly, CNN New York (CNN) — Billionaire investor Carl Icahn and his firm Icahn Enterprises have settled charges for failing to disclose pledges of the company’s securities as collateral for billions of dollars in personal loans, US regulators said Monday.
Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral.
Between 2018 and the present, Icahn pledged approximately as much as 82% of Icahn Enterprises' outstanding securities as collateral to secure personal loans.
The Securities and Exchange Commission on Monday said it had fined billionaire activist investor Carl Icahn and his company $2 million, settling allegations that he failed to disclose billions of dollars worth of personal margin loans pledged against the value of his Icahn Enterprises stock.
