Adult magazine publisher and entertainment group Penthouse International has settled accounting fraud and financial reporting violations, US regulator, the Securities and Exchange Commission has revealed.

As part of the settlement, former Penthouse executive Charles Samel and former shareholder Jason Galanis also agreed to each pay $60,000 (₤30,000) to settle accounting fraud charges, the SEC said.

The company, Samel and Galanis settled without admitting or denying any wrongdoing, the SEC said.

Penthouse International was the former holding company which owned Penthouse, the adult magazine, as well as having film, online content and entertainment club interests.

The magazines is now published by Penthouse Media Group, formerly known as General Media.

Further reading:

Penthouse not covered by its assets

Porn title seeks bankruptcy protection