Stephen Colbert didn't hold back in his segment about Bill O'Reilly.

During Monday's episode of The Late Show With Stephen Colbert, the host slammed the "former Fox News pundit and scrotum who wished to be a real boy" for the $32 million settlement The New York Times reported O'Reilly reached in January.

According to The New York Times, the multi-million dollar agreement settled sexual harassment allegations raised by former Fox News legal analyst Lis Wiehl, including "repeated harassment, a nonconsensual sexual relationship and the sending of gay pornography and other sexually explicit material to her."

Colbert quipped that the settlement was "exactly the sort of thing you do when you're innocent." He also pointed out that Wiehl frequently appeared on a segment called "Is It Legal" on The O'Reilly Factor. In response to the ironic segment name, Colbert said, "And the answer for $32 million: Survey says no it is not. Thanks for playing. Security will see you out."

The New York Times reported that Fox News was aware of Wiehl's allegations; however, in February, 21st Century Fox granted O'Reilly a four-year contract extension that paid him $25 million a year. 21st Century Fox released a statement to The New York Times claiming it was not privy to the settlement amount and that the settlement was a personal matter between O'Reilly and Wiehl. The company also told The New York Times that new provisions were added to O'Reilly's contract, which allowed the organization to terminate O'Reilly if new allegations surfaced.

"It's shocking that Fox News knew about all of these sexual harassment settlements and kept him employed for so long," Colbert said. "But maybe they were just trying to protect their female employees. Because if Bill's on camera that's one hour a day he's not groping somebody."

The New York Times reported that this was "at least the sixth agreement—and by far the largest" O'Reilly or the company has reached to settle harassment allegations made against him. In a Wednesday interview, O'Reilly said he "never mistreated anyone."

"It's politically and financially motivated," he said in regards to the allegations against him, according to The New York Times, "and we can prove it with shocking information, but I'm not going to sit here in a courtroom for a year and a half and let my kids get beaten up every single day of their lives by a tabloid press that would sit there, and you know it."

Watch the video to see Colbert comment on the allegations. 

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