Federal agents executed a search warrant on former WWE CEO Vince McMahon on July 17, following allegations of sexual misconduct and reports that he paid over $12 million to four women over a 16-year period to conceal his improprieties. The incident occurred a year after McMahon stepped down as chairman and CEO and subsequently retired from the company.
The investigation into McMahon’s actions began in July 2022 when federal authorities and the Securities Exchange Commission (SEC) initiated inquiries. While no charges have been filed yet, McMahon was also served with a federal grand jury subpoena, indicating the seriousness of the ongoing investigation.
Current WWE CEO Nick Khan stated during a recent investors call that the company is fully cooperating with the investigation and refrained from further commenting on the legal matter.
The allegations against McMahon involve significant payouts to silence women who claimed to have experienced sexual misconduct by him. Some of the alleged payments include a $7.5 million settlement in 2018 to a former wrestler who accused McMahon of coercing her into performing oral sex before demoting her and terminating her contract in 2005 after she refused further sexual encounters. Another payment of $1 million in 2008 was reportedly made to a WWE contractor who received unsolicited nude photos from McMahon. Additionally, a former WWE manager received $1 million in 2006 after claiming McMahon initiated a sexual relationship with her. Lastly, a former paralegal was allegedly paid $3 million in 2022, claiming to have had an affair with McMahon.
WWE conducted an internal investigation into the allegations in November and controversially voted McMahon back onto the board in January, despite the ongoing investigation. Notably, WWE merged with UFC in April, resulting in a staggering $21 billion valuation.
Currently on medical leave after undergoing major spinal surgery, McMahon will continue to hold the position of the company’s executive chairman. The investigation remains ongoing as authorities delve into the alleged misconduct and financial settlements surrounding the former WWE CEO.
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