On Wednesday, World Wrestling Entertainment (WWE) said that federal law enforcement agents had served a federal grand jury subpoena to their executive chairman Vince McMahon. The feds had also executed a search warrant on July 17. The SEC filing submitted by WWE for its recent quarter also said that no charges have been brought against him.
In a conference call, CEO Nick Khan told investors that McMahon was on medical leave. He underwent spinal surgery a couple of weeks ago. He also said that they were cooperating with the investigation but would not comment on any legal matter.
The federal investigation comes a year after the New York Times had reported that the then CEO Vince McMahon had paid reportedly more than 12 million dollars to several women over a period of 16 years to sign non-disclosure agreements to cover up sexual misconduct.
Last year, Vince McMahon left his role with the WWE after the charges of sexual misconduct arose. The company had conducted a special investigation to probe the allegations. This investigation was over by the fourth quarter of last year.
The SEC filing in March also said that Vince McMahon paid the company $17.4 million for the costs that were incurred during the investment. However, the investigation by the government agencies was ongoing.
Vince McMahon rejoined WWE as executive chairman this January after there were talks of a merger between WWE and UFC that would create a new $21 billion company. This deal is not expected to be affected by the recent subpoena.
Vince McMahon released a statement where he denied that he had intentionally done anything wrong and that he would continue to do so. He said that he was confident that the “government’s investigation will be resolved without any findings of wrongdoing.”
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