World Wrestling EntertainmentInc Chairman Vince McMahon appears in the ring throughout the WWE Monday Night Raw reveal at the Thomas & & Mack Center August 24, 2009 in Las Vegas, Nevada.
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Federal law enforcement representatives carried out a search warrant on World Wrestling Entertainment employer Vince McMahon last month and served him with a federal grand jury subpoena, the business divulged Wednesday.
The actions represent an escalation of a continuous examination into accusations that McMahon paid countless dollars for many years to females after being implicated of sexual misbehavior.
WWE likewise exposed Wednesday that McMahon “went on medical leave after undergoing major spinal surgery.”
McMahon’s leave started July 21, and he will “remain on medical leave until further notice but will remain Executive Chairman” of WWE, the business stated in its quarterly report to the Securities and Exchange Commission.
The business kept in mind that no charges have actually been submitted versus McMahon. CNBC has actually connected to WWE with concerns about the warrant and subpoena.
In April, WWE consented to combine with competing UFC to form a brand-new openly traded business managed by EndeavorGroup
WWE and Endeavor both anticipate the offer to close in the 2nd half of this year, WWE stated Wednesday.
The search warrant and subpoena on July 17 came a year after news very first broke that federal district attorneys and the SEC were examining WWE and McMahon over his payments to females.
Vince McMahon (R) and Donald Trump go to an interview about the WWE at the Austin Straubel International Airport on June 22, 2009 in Green Bay, Wisconsin.
Mark A. Wallenfang|Getty Images Entertainment|Getty Images
WWE kept in mind in the SEC filing Wednesday that it “has received voluntary and compulsory legal demands for documents, including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters.”
McMahon’s partner Linda, who formerly was CEO of WWE, served in the Trump Cabinet as administrator of the U.S. Small Business Administration.
McMahon’s federal search warrant and grand jury subpoena were divulged simply a day after previous President Donald Trump, a long time good friend of McMahon’s, was himself prosecuted by a federal grand jury in Washington, D.C., on severe felony charges connected to his efforts to reverse his loss in the 2020 governmental election.
WWE on Wednesday stated that throughout the 3 and and 6 months ended June 30, “the Company incurred $5.3 million and $7.1 million, respectively, of expenses related to costs incurred” in connection with a different examination of McMahon’s supposed misbehavior performed by an unique committee established by the business’s board.
McMahon has actually consented to compensate WWE for “all reasonable costs incurred in connection” with the unique committee’s work, the business stated.
“To date, Mr. McMahon has paid approximately $17.4 million to reimburse the Company for costs that have been incurred and paid by the Company,” the filing stated.
It is unclear just how much more McMahon will need to compensate WWE beyond that quantity.
“As previously disclosed, the Special Committee investigation was completed during the fourth quarter of 2022. However, related government investigations remain ongoing,” the business stated.
