Rob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
The Securities and Exchange Commission said Friday that World Wrestling Entertainment co-founder Vince McMahon will pay more than $1.7 million in relation to charges that he failed to disclose payment agreements related to sexual assault charges. The SEC said McMahon circumvented WWE internal accounting controls and caused material misstatements in the company’s 2018 and 2021 financial statements. The SEC added that McMahon agreed to the settlement without admitting or denying its findings.
, Associate Regional Director in the New York Regional Office, said in a statement. Representatives for McMahon and the WWE did not immediately respond to requests for comment. The SEC alleges McMahon failed to disclose one $3 million payment paid to a former WWE employee, and another $7.5 million paid to a female independent contractor, in exchange for their not filing claims against him.
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