-

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.


Discover more from Wrestling-Online.com

Subscribe to get the latest posts sent to your email.

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Brock Lesnar seemingly retires at WrestleMania, leaves gloves and boots in the ring

An emotional Brock Lensar has seemingly wrestled his final match, putting over Oba Femi at WrestleMania 42, and then...

WWE WrestleMania 42 Sunday results

Here are the results from WrestleMania 42 Sunday which took place live from the Allegiant Stadium in Las Vegas,...

Alexa Bliss thanks Charlotte and Bray Wyatt following WrestleMania performance

In a post on social media, Alexa Bliss thanked her tag team partner Charlotte for the WrestleMania moment and...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading