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.
The investigation came after a report from short-seller Hindenburg Research sent shares in Icahn’s investment firm spiraling last year. Hindenburg wrote that “Icahn has been using money taken in from new investors to pay out dividends to old investors. Such Ponzi-like economic structures are sustainable only to the extent that new money is willing to risk being the last one
→ Continue reading at CNN - Business News
