SEC Charges Carl Icahn for Undisclosed Stock Pledges, $2 Million Settlement

Aug 19, 2024, 01:15 PM

The U.S. Securities and Exchange Commission (SEC) has charged billionaire investor Carl Icahn and his firm, Icahn Enterprises L.P., for failing to disclose pledges of the company's securities as collateral for billions in personal loans. The SEC's investigation revealed that Icahn and his firm did not make the necessary disclosures regarding the use of company securities to secure personal margin loans. As a result, Icahn and Icahn Enterprises have agreed to settle the charges by paying $2 million in penalties, with Icahn Enterprises paying $1.5 million and Carl Icahn personally paying $500,000.