On July 21, 2015, Miles Nadal announced his resignation as CEO in response to an investigation by the U.S. Securities and Exchange Commission regarding executive pay and accounting practices. Nadal agreed to pay back $1.9 million in expenses and $10.6 million in salary and bonuses. He did not receive any severance or compensation for resigning. Chief accounting officer Michael Sabatino also announced his resignation and would reportedly repay $208,000 in bonuses. MDC’s presiding director of the board, Scott Kauffman, succeeded Miles Nadal as Chairman and CEO.