Vince McMahon to Pay $1.7 Million Over Hush-Cash Agreements

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Former WWE CEO Vince McMahon can pay the worth for his payouts — and on this case, the worth is $1.7 million. The Securities and Trade Fee announced on Friday that it has settled its prices towards McMahon associated to alleged hush-money funds made on behalf of himself and the WWE. The SEC discovered that McMahon didn’t correctly speak in confidence to his then-company that he had made funds to 2 girls ($3 million to a former WWE worker and $7.5 million to a former WWE unbiased contractor) in trade for his or her settlement to not file claims towards him. Based on the SEC, this made the WWE overstate its internet revenue in 2018 and 2021.

McMahon agreed to pay a $400,000 civil penalty and a $1.33 million reimbursement to the WWE with out admitting to or denying to the SEC’s findings, the SEC mentioned. In a statement shared on social media, McMahon chalked the case as much as “minor accounting errors with regard to some private funds that I made a number of years in the past.” His assertion additionally advised that Friday’s decision marked the tip of “almost three years of investigation by totally different governmental companies,” noting that he was “thrilled” that he might “put all this behind” him.

Nevertheless, as a neighborhood be aware on X was fast to level out, McMahon nonetheless faces a lawsuit for sexual assault and trafficking from former WWE worker Janel Grant. Her legal professional, Ann Callis, mentioned in an announcement to NBC News that Grant plans to proceed pursuing her civil swimsuit towards McMahon, WWE, and former WWE exec John Laurinaitis. “The SEC’s prices show that the NDA Vince McMahon coerced Ms. Grant into signing violates the regulation, and subsequently her case should be heard in courtroom,” Callis mentioned, claiming that Grant’s authorized staff is able to carry ahead “new proof” for her lawsuit as “prosecutors for the Southern District of New York proceed their felony investigation.” McMahon, who stepped down from WWE guardian firm TKO in January 2024 after years of misconduct allegations, has denied wrongdoing and claimed that Grant’s lawsuit is “replete with lies.”