US settles with billionaire Carl Icahn for using company to secure personal loans

FILE - Financier Carl Icahn poses for photos upon arriving for the annual New York City Police Foundation Gala in New York, March 16, 2010. .

The agency said that from at least Dec. 31, 2018 to the present, Icahn pledged approximately 51% to 82% of Icahn Enterprises' outstanding securities as collateral to secure personal loans with a number of lenders. Icahn became widely known as a corporate raider in the 1980s when he engineered a takeover of TWA, or Trans World Airlines. Icahn bought the airline in 1985 but by 1992 it filed for bankruptcy. TWA emerged from bankruptcy a year later but continued to operate at a loss and its assets were sold to American Airlines in 2001. In February Icahn took a nearly 10% stake in

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US settles with billionaire Carl Icahn for using company to secure personal loans worth billionsBillionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured
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