Home WWE WWE uncovers $5 million more in unauthorized payments by Vince McMahon

WWE uncovers $5 million more in unauthorized payments by Vince McMahon

In a new filing with the Securities and Exchange Commission, WWE announced that it has discovered two additional payments totaling $5 million that Vince McMahon made in 2006 and 2009.

These payments should have been recorded in the company’s consolidated financial statements but were not. This brings the total of inappropriately used funds by McMahon to $19.6 million.

WWE wrote that all these expenses will be paid by Vince McMahon personally and the investigation by the WWE Board of Directors remains ongoing.

The SEC filing also confirms the departure of John Laurinaitis from the company, who was also implicated with Vince of having a sexual relationship with an employee.

McMahon, who resigned from WWE in July, remains the company’s biggest stakeholder but is no longer involved into the day-to-day running of WWE.

His daughter Stephanie was elected Chairwoman and is co-CEO with Nick Khan.

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