Ex-WWE CEO Vince McMahon Settles SEC Charges Over Hush-Money Payments, Agrees To Pay $400,000 Fine
Ex-WWE CEO Vince McMahon Settles SEC Charges Over Hush-Money Payments, Agrees To Pay $400,000 Fine
The SEC settled charges against Vince McMahon, former CEO of WWE, for circumventing internal accounting controls and causing material misstatements in WWE’s financial statements for 2018 and 2021.
Vince McMahon agreed to a cease-and-desist order, paying a $400,000 civil penalty and reimbursing WWE $1.33 million. The case involved payments Vince McMahon made to former employees and contractors to prevent them from disclosing their relationships with him.
These payments, totaling millions, were not properly recorded, leading to overstatements in WWE’s net income. McMahon had previously stepped down amid investigations into alleged misconduct but returned in 2023 as executive chairman.
The SEC’s order highlighted McMahon’s failure to disclose these settlements to WWE or its auditor, leading to a restatement of financial statements.
Meanwhile, McMahon faces ongoing civil lawsuits and a criminal investigation related to accusations of sexual assault and trafficking. He denies the allegations.