Vince McMahon's SEC Deal: A Look at the Hidden Payments

Former WWE CEO, Vince McMahon, has struck a deal with the Securities and Exchange Commission (SEC). This comes after he failed to disclose two big settlements. Back in 2019 and 2022, McMahon agreed to pay two women a total of $10. 5 million. The deal was to keep them quiet about their relationships with him and any potential claims against WWE. McMahon stepped down as WWE's CEO in 2022 due to an investigation. Then, in January 2024, he left WWE's parent company after a lawsuit from a former employee. The lawsuit accused him of serious sexual misconduct. The SEC said McMahon's actions hid these payments from WWE's internal systems. This led to incorrect financial statements for 2018 and 2021. WWE's net income was overstated by about 8% in 2018 and 1. 7% in 2021. Later, WWE had to correct its financial statements in August 2022. McMahon agreed to pay a $400, 000 penalty and reimburse WWE $1. 3 million. He didn't admit or deny the SEC's findings. Lawyers for one of the women, Janel Grant, said the SEC's charges confirm McMahon broke the law. They hope to bring new evidence in their civil case. McMahon led WWE for decades, transforming it from small venues to global stadiums. His weekly TV show, "Raw, " now streams on Netflix, reaching millions.

Actions