World Wrestling Entertainment boss Vince McMahon hit with a search warrant by federal law enforcement agents who was hit with a federal grand jury subpoena, according to the company.
Ongoing investigations have been investigated McMahon’s actions where it is alleged that he paid millions of dollars over the years to women that have accused him in sexual misconduct.
It was revealed by the WWE that McMahon was on medical leave after undergoing a major spinal surgery, which was announced by WWE CEO Nick Khan.
No charges have been made against the WWE owner despite the ongoing investigation from federal authorities.
McMahon had stepped down as chief executive and chairman as of last year due to the sexual misconduct.
Reports from The Wall Street Journal wrote that McMahon had allegedly paid $12 million to suppress allegations of sexual assault since 2006.
McMahon inherited WWE from his father in 1982 when it was previously called the World Wrestling Federation (WWF).
Speculations of the WWE were to sell where in April the company agreed to merge with rival UFC to for a new publicly traded company that is controlled by Endeavor Group.
The deal is expected to close in the second half of the year between WWE and Endeavor, according to WWE.
The search warrant and the subpoena on July 17 only comes a year after the news broke over federal prosecutors and the SEC were investigating McMahon’s scheme in his payments, which also involved the WWE.
WWE also noted in the SEC filing that it “has received voluntary and compulsory legal demands for documents including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters.”
McMahon’s wife, Linda, was previously a CEO of WWE and served in the Trump administration as the administrator of the U.S. Small Business Administration. She had also run for the U.S. Senate for the state of Connecticut in 2012.
The federal search warrant on McMahon and grand jury subpoena were disclosed just a day after former President Donald Trump was indicted by the special counsel in an attempt to overturn the 2020 election.
The WWE incurred about $5.3 million and $7.1 million in expense in connection with a separate investigation by a special committee created by the company’s board during a six-month period at the end of June 30.
McMahon agreed to the terms to reimburse WWE for “all reasonable costs incurred in connection” with the special committee’s work, according to the company.
“To date, Mr. McMahon has paid approximately $17.4 million to reimburse the Company for costs that have been incurred and paid by the Company,” said in the SEC filing.
There is no indication how much McMahon will have to reimburse the company beyond of what he has paid.
“As previously disclosed, the Special Committee investigation was completed during the fourth quarter of 2022. However, related government investigations remain ongoing,” said the company.
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