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

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Carl Icahn News

Business,U.S. News

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.

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 SEC said Icahn Enterprises failed to disclose Icahn’s pledges of the company's securities as required in its annual report until Feb. 25, 2022. Icahn also failed to file amendments to a required regulatory filing describing his personal loan agreements and amendments, which dated back to at least 2005, and failed to attach required guaranty agreements. Icahn’s failure to file the required amendments to the regulatory filing persisted until at least July 9, 2023, the agency added.

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