WWE says Vince McMahon under investigation for alleged misconduct has

WWE says Vince McMahon, under investigation for alleged misconduct, has made personal payments totaling $19.6 million

Vince McMahon’s unscheduled personal payments as Chairman and CEO of WWE were higher than previously reported, the company said.

Last month, the wrestling-entertainment company announced it would revise its financial statements dating back to 2019 to include $14.6 million in “certain payments” that McMahon should have booked as expenses as chairman and CEO. That was three days after McMahon said he was retiring from WWE, which he announced amid an ongoing investigation into allegations that he had paid several women millions of dollars to remain silent about affairs and other wrongdoing.

In an SEC filing Tuesday, WWE said that since the July 25 announcement, it had discovered that McMahon had made two additional payments totaling $5 million in 2007 and 2009 unrelated to the allegations that led to the investigation by the board’s special committee, which should have been included in the Company’s consolidated financial statements. WWE did not provide details on what McMahon’s $5 million payments were for.

WWE had previously aimed to deliver the revised financial statements for McMahon’s personal payments by Aug. 9, but said the information that had come to light about the additional $5 million he had paid made that impossible.

WWE said the board’s special committee investigation into McMahon’s alleged wrongdoing is ongoing. Last month, the company announced that it had received “regulatory, investigative and enforcement requests, subpoenas.” [and] Claims” related to the ex-CEO’s alleged misconduct.

McMahon remains a controlling shareholder in WWE. Following his retirement, WWE named Stephanie McMahon and Nick Khan as co-CEOs. Stephanie McMahon, Vince’s daughter, has been named Chair of the Board and Khan will continue to serve as a Board Member.

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