Fri Jan 10 15:50:00 UTC 2025: **SEC Fines Vince McMahon $1.7 Million for Misreporting Payments**
NEW YORK – Former World Wrestling Entertainment (WWE) CEO Vince McMahon has agreed to pay over $1.7 million to settle charges with the Securities and Exchange Commission (SEC). The SEC alleges McMahon failed to disclose payments made to settle sexual misconduct allegations, resulting in misstatements in WWE’s financial reports for 2018 and 2021.
The settlement includes a $400,000 civil penalty and $1,331,000 in reimbursement to WWE. McMahon, who denies wrongdoing, stated that the matter involved “minor accounting errors” related to personal payments. The SEC alleges that the undisclosed payments – one of $3 million and another of $7.5 million – to former employees led to an overstatement of WWE’s net income.
The SEC’s investigation follows previous reports alleging McMahon paid $12 million over 16 years to suppress allegations of sexual misconduct. Last January, McMahon stepped down from his executive positions at WWE following allegations of sex trafficking and abuse, which are currently under investigation by the Department of Justice. The settlement closes this chapter in the ongoing investigations, though other probes may still be underway.
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