vince mcmahon He just reached an agreement with federal authorities in his hush money case…a former WWE boss agreed to pay more than $1.7 million to put the matter in the rearview mirror.
The Securities and Exchange Commission announced Friday that McMahon will pay $3 million to a former employee in 2019 and $7.5 million to a former independent contractor in 2022 to buy his silence regarding allegations against him and his company, WWE. It was announced that it was discovered that he had paid the
However, the SEC alleges that McMahon never properly disclosed the terms of the contract to WWE’s board of directors or other parties within the wrestling organization. –No big deal that would lead to a violation.
“Company executives cannot enter into significant contracts on behalf of the companies they serve and cannot withhold that information from company management or auditors,” the New York office executive said. Ta. Thomas P. Smith Jr. Said.
The SEC announced that in order to make things right, McMahon has agreed to pay a $400,000 fine and at the same time repay WWE $1,330,915.90.
Notably, federal authorities said McMahon neither confirmed nor denied the findings.
McMahon said in a statement published in X Friday morning that he was “thrilled” by the resolution.
“Case closed,” he wrote. “Today marks the end of an almost three-year investigation by various government agencies. There has been much speculation about what exactly the government was investigating and what the outcome will be.”
“As today’s resolution demonstrates, much of that speculation was misplaced and misleading. Ultimately, this was about personal payments I made years ago when I was CEO of WWE. There was nothing other than a minor accounting error, and I’m excited to put all that behind me.”
of wall street journal It was first reported that McMahon was under investigation for hush money payments in 2022, but in the aftermath, the 79-year-old was forced to step down from his role with WWE.
He later returned, but in the wake of an explosive sexual assault lawsuit filed by a former WWE employee. he resigned As executive chairman of TKO, the company that owns WWE.
