The British businessman was president and CEO of McDonald’s between March 2015 and November 2019, when his tenure came to a screeching halt.

The company’s board fired him from the top job for having a “non-physical consensual” relationship with a subordinate, saying he “violated company policy.” The relationship involved texts and video calls.

The Securities and Exchange Commission (SEC) said that the termination agreement described his firing as without cause, allowing him to walk away with a $105 million severance package he would have otherwise forfeited.

However, as the investigation into Easterbrook’s conduct went on, other relationships he had within the company came to light. McDonald’s found that he had engaged in physical sexual relationships with three other employees while leading the company.

McDonald’s said if it had been aware of the physical relationships, it wouldn’t have offered Easterbrook the severance. The fast-food giant then took legal action against him and accused him of lying about his sexual relationships.

In December 2021, Easterbrook returned the $105 million in severance and apologized for not upholding company values. But his troubles did not end there. On Monday, he was fined $400,000 by the SEC for misleading investors about his termination in 2019.

On Monday, the SEC accused the former CEO of making “false and misleading statements to investors.”

“Easterbrook knew or was reckless in not knowing that his failure to disclose these additional violations of company policy prior to his termination would influence McDonald’s disclosures to investors related to his departure and compensation,” it said in a statement.

Gurbir Grewal, director of the SEC’s division of enforcement, said: “When corporate officers corrupt internal processes to manage their personal reputations or line their own pockets, they breach their fundamental duties to shareholders, who are entitled to transparency and fair dealing from executives. By allegedly concealing the extent of his misconduct during the company’s internal investigation, Easterbrook broke that trust with—and ultimately misled—shareholders.”

McDonald’s itself was also charged for leaving gaps in its public disclosures regarding the firing. Unusually, McDonald’s was not fined.When company executives are accused of violating anti-fraud rules, the company usually has to pay a penalty.

On Monday, McDonald’s issued a statement responding to the SEC fine.

“As the SEC announced today, McDonald’s reached an agreement with the SEC concerning issues with its disclosures relating to the process behind Steve Easterbrook’s separation from the Company,” it said. “The Commission recognized the Company’s substantial cooperation as well as the affirmative action taken by the Company to recover value for its shareholders by suing Easterbrook, and it therefore imposed no monetary penalty on McDonald’s.”

The statement said the SEC’s order reinforces “what we have previously said: McDonald’s held Steve Easterbrook accountable for his misconduct. We fired him and then sued him upon learning that he lied about his behavior. As a result of that lawsuit, Mr. Easterbrook last year returned equity awards and cash then valued at $105 million which he would have forfeited had he been truthful about his misconduct at the time of his termination and, as a result, been terminated for cause.”

The statement also said McDonald’s is “proud of our strong ‘speak up’ culture that encourages employees to report conduct by any employee, including the CEO, that falls short of our expectations.”

Without confirming or denying the SEC’s fraud accusations, Easterbrook agreed to pay the $400,000 civil penalty. He has been banned from serving as a corporate executive or board member at any other company for five years.

Newsweek has reached out to Easterbrook for comment through his attorney.

Update 1/11/23, 1:52 p.m. ET: This story was updated with a statement from McDonald’s.