Vince McMahon settles with SEC, will pay more than $1.7 million over hush money agreements
Vince McMahon, a co-founder of World Wrestling Entertainment, will pay over $1.7 million to settle allegations that he concealed payment arrangements linked to sexual assault charges, the Securities and Exchange Commission announced on Friday.
According to the SEC, McMahon made substantial misstatements in the company's 2018 and 2021 financial statements and evaded internal accounting controls at WWE.
The SEC further stated that McMahon accepted the settlement without acknowledging or refuting its conclusions. He will reimburse WWE almost $1,331,000 and pay a $400,000 civil penalty.
Executives of the company are not allowed to sign significant contracts on the firm's behalf and keep that information secret from the auditor and control functions. In a statement, the New York Regional Offic...