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Aron made the revelation after Semafor reported that the CEO had sent "sexually explicit images and messages" to a woman who later tried to hold them as blackmail.
The woman, Sakoya Blackwood of Bronx, New York, was charged with extortion and cyberstalking and later sentenced to one year time served, according to the outlet.
Aron said he "personally engaged counsel and other professional advisors and reported the matter to law enforcement" instead of paying the hush money the blackmailer demanded.
"I did so knowing I risked personal embarrassment," he wrote on X, formerly known as Twitter.
"But with my access to resources, if I did not stand up against blackmail, who could?"
Aron said he was "asked by law enforcement to keep this matter confidential" while the investigation and prosecution played out.
"And now, I am reporting this to all of you."
Aron is also co-owner of the Philadelphia 76ers and served as the franchise's CEO from 2011 to 2013. He is a graduate of Abington High School.
Click here to read the full report from Semafor.
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