WWE Boss Vince McMahon Breaks Silence On Hush Money Deal

Former WWE executive Vince McMahon has reached a settlement with the Securities and Exchange Commission (SEC), agreeing to pay $1.7 million to resolve an investigation into alleged hush money payments. The deal brings an end to a high-profile case that has followed McMahon for nearly three years.

The once-dominant figure behind the success of World Wrestling Entertainment (WWE), has seen his legacy marred by controversy, investigations, and legal battles over the past few years.

Vince McMahon was accused of hush money payments in 2022, igniting a firestorm that ultimately led the 79-year-old to step down from his role in the WWE.

Vince McMahon Reaches SEC Settlement Amid Ongoing Criminal and Civil Legal Battles

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According to The Wall Street Journal, the SEC announced Friday that McMahon had paid $3 million to a former WWE employee in 2019 and $7.5 million to an independent contractor in 2022 in exchange for their silence regarding allegations against him and the WWE. According to the SEC, McMahon failed to disclose these agreements to the WWE Board of Directors and other key officials, violating financial reporting rules.

"Company executives cannot enter into material agreements on behalf of the company they serve and withhold that information from the company's control functions and auditor," Thomas P. Smith Jr., an official from the SEC's New York Regional Office, said.

As part of the resolution, McMahon agreed to pay a $400,000 fine and reimburse the WWE $1,330,915.90 for the undisclosed payments. Notably, McMahon did not admit to or deny the SEC's findings.

The investigation into McMahon’s conduct began in 2022, leading to his resignation from WWE amid allegations of misconduct. Although he briefly returned to the company, a subsequent sexual assault lawsuit filed by a former WWE staffer led to his stepping down as the Executive Chairman of TKO, WWE’s parent company.

Vince McMahon Releases Statement

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In a statement shared on X, the social media platform formerly known as Twitter, McMahon expressed relief over the settlement, calling it a “thrilling” resolution:

McMahon attributed the investigation to "minor accounting errors" related to personal payments he made during his time as WWE CEO and said he was eager to move forward.

Vince McMahon's Tumultuous WWE Journey

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Although McMahon made a surprising return to the wrestling world in early 2023, his comeback was overshadowed by mounting legal troubles. The fallout reached a breaking point after a former WWE staffer filed an explosive sexual assault lawsuit, prompting McMahon to resign from his position as Executive Chairman of TKO, the parent company of WWE.

His resignation marked a significant turning point for the company and its leadership, signaling the end of McMahon's official ties to WWE's day-to-day operations.

Investigations, Lawsuits, and Resignation

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The legal challenges didn't stop there. Last month, U.S. prosecutors announced their intent to continue a criminal investigation into McMahon. This coincides with a civil case brought forward by a former WWE employee, who has accused McMahon of sexual assault and trafficking.

These allegations and ongoing investigations have cast a long shadow over McMahon's storied career, leaving many to question the future of his involvement in the wrestling industry and his long-standing influence over WWE. With both criminal and civil cases still unfolding, the saga surrounding Vince McMahon is far from over.

Bella Twins Comment On Allegations Made Against McMahon

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Former WWE superstars Nikki and Brie Bella spoke out at the time on the shocking allegations against their former boss, McMahon. The twin sisters, who rose to fame as iconic WWE wrestlers before retiring in March 2023, expressed their dismay over the situation, appearing to stand in solidarity with the alleged victims. "We are shocked and disheartened with the recent allegations against members of the WWE," their statement read.

The WWE founder's reputation took a nosedive after a former staffer filed a lawsuit accusing McMahon of sex trafficking and alleging disturbing behavior during a threesome, including defecating on her head. The allegations have sent shockwaves through the industry, drawing widespread criticism and condemnation.