According to a report by the Wall Street Journal, Vince McMahon paid more than $12 million to four women over the past 16 years to suppress allegations of sexual misdeeds.
According to the Journal, the women were affiliated with World Wrestling Entertainment. The newspaper reported in June that the board of the company was looking into a secret settlement McMahon paid to a paralegal.
According to the Journal, there were three more hush-money payments between 2006 and 2018: one for $7.5 million to a former wrestler who alleged McMahon coerced her into giving him oral sex and later refused to renew her contract after she resisted subsequent sexual encounters, and another for $1 million to a woman who
CNBC asked the company for comment on the allegations.
McMahon was stepping back from his role as CEO and chairman, but keeping his responsibilities related to the company's creative content, pending an investigation into his alleged wrongdoing. His daughter was named Interim CEO.
McMahon said in the release that he would do all he could to support the investigation. I have promised to accept the findings of the investigation.
The Journal reported that McMahon's deals with the wrestler and the former paralegal are being investigated. The board of the World Wrestling Entertainment is looking into allegations against an executive who used to wrestle under the name Johnny Ace.
The investigation was started by anonymous emails that threatened to reveal details of the settlement between McMahon and the former paralegal, the Journal reported.
The company's share prices were down on Friday.
The full report can be read by clicking here.
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