WWE unearths another UNACCOUNTED expense paid by Vince McMahon amounting to $ 5 million


WWE unearths another UNACCOUNTED expense paid by Vince McMahon amounting to $ 5 million

It seems like controversies and Vince McMahon goes hand in hand. The “hush money scandal” is now taking an interesting turn as another $5 million of unaccounted expenses have been revealed in the latest SEC report filed by the company. WWE also said that they won’t be able to file their quarterly report because of the revelation. McMahon announced his retirement from the company in all capacity on July 22nd and it is being said that the decision was taken due to his involvement in the hush money scandal.

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While the investigations are still in the process, it now turns out that two payments that amount to $5 million in total have been unearthed from the unaccounted expenses. Though the committee said that the mentioned amount doesn’t relate to the ongoing allegations in any capacity, but it would still be needed to see where the amount has been used. The company said in the filing that on 17th June a special committee was set up to investigate the allegations against former WWE Chairman Vince McMahon following which Vince had also resigned temporarily from the post.

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WWE reveals another $5 million unaccounted expenses paid by Vince McMahon

Vince McMahon
Vince McMahon announced his retirement from the company on 22nd July in all capacity amid allegations of paying hush money to former female employees.

The report further said on 25th July Vince agreed that he indeed made some payments from 2006-2022 from the unaccounted expenses which amount to $14.6 million. Now adding to the tally of events the SEC report has revealed that they have found two more unaccounted payments that were not included in the financial statements of the company. According to the report Vince made these payments in 2007 and 2009 but are unrelated to the allegations whatsoever but the payments have not been accounted for.

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The company also said that all the payments “were or would be paid by Vince McMahon personally”. The company thus said that due to the findings they’ll be unable to submit the report for the first quarter and should do that 5 days later than the previous deadline. The report also suggested that now the total unaccounted expense amounts to $19.6 million which they have discovered has not been mentioned in any of the financial statements of the company.

Though the company also said that they are not sure whether they would be able to file the quarterly report within the given extension and said “preliminary estimates” of previous financial accounts can be accessed through an SEC report published on 25th July in a current report on Form 8-K. You can read the complete SEC report here.

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