Vince McMahon has settled his charges with Securities and Exchange Commission (S.E.C.) over undisclosed money payments he made to women in 2019 and 2022 during his time as CEO of World Wrestling Entertainment.
The former executive has agreed to pay up $1.7 million as part of the settlement deal.
“The case is closed. Today ends nearly three years of investigation by different governmental agencies,” McMahon said in a statement obtained by TheWrap. “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.”
He continued: “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.”
The outcome of the dispute came after McMahon made two settlement payments to two women in 2019 and 2022, one of whom accused him of assaulting and trafficking her after she refused to have sex with him, without informing “the agreements to WWE’s Board of Directors, legal department, accountants, financial reporting personnel, or auditor,” per the S.E.C. His actions ultimately impacted WWE’s financial accounting, causing “material misstatements in WWE’s 2018 and 2021 financial statements.”
As part of the settlement, McMahon agreed to pay S.E.C. a $400,000 civil penalty fee and reimburse the WWE approximately $1,330,915.90. Furthermore, McMahon has made the agreement and will not admit or deny the S.E.C.’s charges, as part of an order by the regulator, according to The New York Times.
In a statement obtained by TheWrap, Ann Callis, attorney for Janel Grant, the former WWE employee behind an explosive sexual misconduct and trafficking lawsuit against McMahon, said the former CEO “acted as if the rules did not apply to him.”
“Now we have confirmation that he repeatedly broke the law to cover up his horrifying behavior, including human trafficking,” Callis wrote. “The S.E.C.’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. 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.”
During an investigation brought on by the WWE’s board, the organization found that McMahon had paid $14.6 million in payments to women between 2006 and 2022 who accused him of sexual misconduct.
McMahon stepped down from the WWE, which is owned by parent company TKO Group Holdings, in June 2022 after WWE discovered the payments. He resigned as chairman of TKO Group’s board in January 2024.
