The SEC ordered Vince McMahon to pay $1.7 million for failing to disclose hush-money settlements totaling $10.5 million to two women who worked at WWE
McMahon must reimburse his former company $1.3 million and pay a $400,000 civil penalty stemming from the government’s investigation into the wrestling kingpin.
“Today ends nearly three years of investigation by different governmental agencies. There has been a great deal of speculation about what exactly the government was investigating and what the outcome would be. As today’s resolution shows, much of that speculation was misguided and misleading,” McMahon said in a
“In the end, there was never anything more to this than minor accounting errors with regard to some personal payments that I made several years ago while I was CEO of WWE. I’m thrilled that I can now put all this behind me,” he added.
“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,” the SEC’s Thomas P. Smith Jr.
“The SEC’s charges prove that the NDA Vince McMahon coerced Ms. Grant into signing violates the law, and therefore her case must be heard in court,” Callis continued. “While prosecutors for the Southern District of New York continue their criminal investigation, we look forward to bringing forward new evidence in our civil case about the sexual exploitation Ms. Grant endured at WWE by Vince McMahon and John Laurinaitis.
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