Vince McMahon’s troubles continue. He’s currently under investigation for hush-money payments.
The world of professional wrestling has been sunk into chaos due to sexual misconduct hush-money allegations against former WWE CEO, Vince McMahon. These allegations have caused Vince McMahon to resign from his position as CEO and step back from the company, though he remains its majority shareholder.
In his place, Stephanie McMahon and Nick Khan have been named co-CEOs. Stephanie McMahon’s husband Paul Levesque (better known as pro wrestler Triple H) has been named the new head of WWE’s creative team.
In an article published yesterday by Wall Street Journal, it was revealed that McMahon is now being investigated by the SEC and federal prosecutors.
New federal investigations into the deepening hush-money scandal enveloping World Wrestling Entertainment Inc. hastened the retirement of its chief executive, Vince McMahon, according to people familiar with the matter.
The Securities and Exchange Commission and federal prosecutors have launched inquiries into payments made by Mr. McMahon to settle allegations of sexual misconduct, the people said. The media company said Monday that it has received “regulatory, investigative and enforcement inquiries, subpoenas or demands” in connection with millions of dollars in hush-money pacts.
-Wall Street Journal
Additionally, Bryan Alvarez of the Wrestling Observer Network alluded to even darker clouds on the horizon for McMahon. The following transcription has been provided by Paul Davis of Wrestling News:
I will say that there are rumors that the HBO Real Sports story on Vince is – one person used the term ‘damning’ and that there might be another Wall Street Journal article coming out this week. They may have gotten ahead of things with this resignation on Friday.
-Bryan Alvarez, Wrestling Observer Network
Nothing else is currently known about the alleged upcoming WSJ and HBO Sports stories. However, wrestling fans can expect the business to be even further upended once they are published.