World Wrestling Entertainment boss Vince McMahon hit with a federal grand jury subpoena.
Last month, federal law enforcement agents executed a search warrant on McMahon. Shortly after, the agents hit McMahon with a federal grand jury subpoena. This signifies a progression in an ongoing investigation regarding allegations of McMahon making substantial payments to women over the years.
According to the wrestling company, the subpoena and search warrant are “a continuation of the investigation that commenced last summer. WWE has cooperated throughout and fully understands and respects the government’s need for a complete process.”
The search warrant and subpoena was issued a year after news broke about federal prosecutors and the SEC investigating WWE and McMahon for his payments to women.
On Wednesday, WWE stated that during the three and six months ending, they earned $5.3 million and a $7.1 million. The funds were linked to a separate investigation by a special committee from the company’s board.
However, WWE says McMahon has agreed to reimburse the company for “all reasonable costs incurred in connection” with the work of the special committee. Additionally, the filing states, “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.”
Nevertheless, McMahon is maintaining his innocence and denies all allegations.
“I have always denied any intentional wrongdoing and continue to do so,” he says. “I am confident that the government’s investigation will be resolved without any findings.”
