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In response to
"WWE: Well Vince's day got worse...the SEC AND Federal Prosecutors have launched investigations..."
by
RemliKhan
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more
Posted by
RemliKhan (aka Remlik)
Jul 25 '22, 17:31
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Vince McMahon’s retirement was reportedly sped up by a new development, as the SEC and federal prosecutors are investigating his alleged hush payments. As you know, the Wall Street Journal reported in mid-June that McMahon was being investigated for a $3 million payment he made to a WWE employee he had an affair with. McMahon stepped down as Chairman and CEO at the time and annnounced his retirement from the company last Friday, with Stephanie McMahon and Nick Khan taking on the roles of co-CEO while Triple H was announced today as the head of creative.
It has now been reported by the Wall Street Journal that the Securities and Exchange Commission and federal prosecutors have started inquiries into that payment as well as the other payments he made to women in order to cover up allegations of sexual misconduct. This comes after WWE posted at 8-K filing with the SEC where they announced the discovery of $14.6 million in payments from Vince McMahon that were not recorded as company expenses.
The new WSJ report also notes that according to sources, the investigations into the expanding scandal “hastened” McMahon’s retirement. A spokesperson for the individual members of the WWE Board declined to comment, as did the US Attorney’s Office in Connecticut declined to comment, while the SEC had yet to respond to such a request.
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