Vince McMahon of WWE hit with federal search warrant and subpoena.
Businessman and WWE Executive Chairman Vince McMahon Subpoenaed in Ongoing Investigation
Exciting developments are unfolding in the world of professional wrestling as Vince McMahon, the renowned businessman and WWE Executive Chairman, has been served a federal grand jury subpoena. This comes on the heels of a July search warrant, marking the latest action in an investigation surrounding McMahon.
The investigation centers around allegations that McMahon has been involved in buying off women who have come forward with claims of sexual misconduct against him. While no charges have been filed against McMahon, the subpoena and search warrant indicate that the federal investigation has been ongoing for years.
McMahon’s Medical Leave
In a surprising turn of events, McMahon went on medical leave on July 21 after undergoing major spinal surgery. The WWE confirmed this in its quarterly SEC report, stating that McMahon will remain on medical leave until further notice but will continue to serve as Executive Chairman.
The WWE’s Involvement
The WWE has not been immune to the investigation, as the organization has received both voluntary and compulsory legal demands for documents related to the investigation. These requests have come from federal law enforcement and regulatory agencies.
Financial Implications
Notably, the WWE has incurred significant expenses in relation to another investigation involving McMahon. The company has spent at least $5.3 million and $7.1 million, respectively, and McMahon has pledged to reimburse the WWE for all reasonable costs incurred.
According to the WWE filing, McMahon has already paid approximately $17.4 million to reimburse the company for these costs. It is clear that he is taking the matter seriously and is committed to resolving any financial implications.
Ongoing Government Investigations
While the Special Committee investigation was completed in the fourth quarter of 2022, it is important to note that related government investigations are still ongoing. This indicates that there may be further developments in the future.
Stay tuned for more updates on this captivating story as it continues to unfold.
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