AceShowbiz -

Charles Payne, who has been with Fox Business Network since its launch in 2007, has been suspended amid sexual harassment allegations made against him. The network announced his suspension after confirming the investigation first reported by the Los Angeles Times.

"We take issues of this nature extremely seriously and have a zero-tolerance policy for any professional misconduct," a Fox Business Network representative said in a statement. "This matter is being thoroughly investigated and we are taking all of the appropriate steps to reach a resolution in a timely manner."

Payne, who hosts "Making Money" on the network, has admitted that he had a three-year "romantic relationship" with a married female political analyst who frequently appeared on Fox Business Network and Fox News Channel from 2013 to 2016. The relationship is now being reviewed after the woman claimed of sexual misconduct.

The accuser, who wasn't named, contacted Fox's law firm Paul, Weiss, Rifkind, Wharton & Garrison last month to report the matter, claiming that she was banned from Fox after she ended the affair with Payne in 2015. She claimed that her TV appearances were reduced after she terminated the relationship.

She allegedly tried to report Payne to Fox News executives and discuss the situation with Payne and Fox News executive Bill Shine but was unsuccessful. The woman claimed she was coerced into a sexual relationship with Payne under threat of reprisals.

Payne's attorney, Neal Korval, has said that his client "categorically denies" any acts of sexual harassment against the woman.

This is the latest sexual harassment claim against those working at Fox News Channel. Roger Ailes resigned as Fox News Chief in 2016 after several women accused him of harassment or racial discrimination. The network also fired its star Bill O'Reilly in April this year after New York Times reported that he had made settlements to women who accused him of sexual harassment.