According to a Source, Federal Prosecutors and The SEC Are Looking Into Ex-WWE CEO Vince Mcmahon’s Hush Payments
It has recently come to light that former WWE CEO Vince McMahon received “hush money” payments, which has prompted a federal investigation.
The Board of Directors had been looking into allegations that he had paid off former female employees. McMahon recently stepped down as CEO, and his daughter Stephanie McMahon and longtime employee Nick Khan have been promoted to joint leadership roles.
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Federal Prosecutors and SEC Are Looking Into Vince’s Hush Payments
In addition to his role as WWE’s Executive Vice President of Talent Relations, Triple H is also in charge of the company’s creative direction.
Today, the Wall Street Journal published a new report explaining the circumstances surrounding McMahon’s sudden retirement. The report claims that both the SEC and federal prosecutors are investigating the payments made by the former WWE CEO.
In addition, the federal investigation into the “hush money scandal” “hasted” his retirement, according to the report. According to the report, McMahon’s actions may threaten the company’s partnerships with media outlets and advertisers.
The Wall Street Journal attempted to contact McMahon’s representatives but did not hear back from them.
During his tenure as WWE Chairman and CEO, the 76-year-old reportedly received payments totaling around $14.6 million.
Today, WWE disclosed in a filing with the SEC that the payments made to the former CEO between 2006 and 2022 should have been treated as business expenses. In an earlier SEC filing, it was suggested that additional entities investigate the allegations of wrongdoing against him.
As a result of, in relation to, or in connection with these issues, “the Company has also received, and may in the future receive, regulatory, investigative, and enforcement inquiries, subpoenas, or demands.”
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