WWE President and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES in Las Vegas.
The Securities and Exchange Commission and federal prosecutors have launched an investigation into payments made by world Wrestling Entertainment CEO Vince McMahon to settle sexual misconduct allegations According to a new report from the Wall Street Journal.
WWE on Monday disclosed $14.6 million in previously unrecorded expenses personally paid by McMahon, which announced retirement on Friday, The company also indicated that the allegations of misconduct, already the subject of an independent review, are subject to scrutiny by other entities, But it did not specify which agencies.
According to the Wall Street Journal, these federal investigations into McMahon hastened his retirement from the company. McMahon, 76, is the company’s largest shareholder with a stake of about 32%.
CNBC has contacted WWE for comment.
McMahon reportedly paid women about $15 million from 2006 to this year to ensure his silence on the alleged cases and misconduct. WWE said it will reflect updated reports for 2019, 2020 and 2021, as well as unregistered expenses in the first quarter of this year, when it reports second-quarter earnings.
The company was set to report on August 9, but the revision could be delayed, WWE said.