WASHINGTON/NEW YORK (Reuters) -Vince McMahon, the former chief executive of World Wrestling Entertainment (NYSE:TKO), agreed to pay more than $1.7 million to settle U.S. Securities and Exchange Commission charges he signed two settlement agreements without disclosing them to company officials.
The SEC said on Friday that McMahon’s actions circumvented WWE’s internal accounting controls, and caused material misstatements in the company’s 2018 and 2021 financial statements.
Without admitting wrongdoing, McMahon agreed to pay a $400,000 fine and reimburse $1.33 million to WWE to resolve the SEC’s civil case.
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