Vince McMahon, former WWE Chairman, has reached a settlement with American authorities in his hush money case with former staffer Janel Grant. He has agreed to pay $1.7 million to address allegations related to payments made to silence the former employees about misconduct involving himself and WWE. This resolution marks a significant development in McMahon's career and the ongoing scrutiny he has faced.
It was reported that the U.S. Securities and Exchange Commission (SEC) disclosed that McMahon made two undisclosed payments: $3 million to a former employee in 2019 and $7.5 million to an ex-independent contractor in 2022. These payments aimed to prevent the individuals from speaking out about misconduct allegations.
The SEC found that McMahon failed to inform WWE's Board of Directors and other officials about these agreements, violating corporate governance rules. McMahon has also agreed to reimburse WWE $1,330,915.90 for the undisclosed payments, in addition to the $1.7 million settlement. The SEC noted that McMahon neither admitted nor denied the findings.
Following the settlement, McMahon expressed satisfaction with the resolution. He stated on social media, “The case is closed. Today ends nearly three years of investigation by different governmental agencies.” McMahon defended his actions, describing the investigation as a case of “minor accounting errors” related to personal payments made during his time as WWE's CEO.
Despite the settlement, the investigation and its aftermath had a significant impact on McMahon’s career. He initially stepped down from his role in WWE in 2022 following the allegations, returned to the company, and then resigned again as Executive Chairman of TKO, WWE’s parent company, after a sexual assault lawsuit filed by a former staffer.
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