Former WWE CEO Vince McMahon spent more than £19million in unrecorded expenses

Former WWE chief executive officer Vince McMahon has been found to have made another $5 million (£4 million) in mysterious payments, adding to the $14 million (£12 million) he spent using company funds

An internal investigation by the sports entertainment company made the new discovery overnight, and also found that these latest payments – like the previous amount – were not recorded on expenses.

The now-ex boss of the sports entertainment company has been under fire in recent weeks after it emerged that the board of World Wrestling Entertainment was said to be investigating a £2.4million ($3million) hush money settlement over an alleged affair between Mr McMahon and a former WWE employee.

READ MORE: Mad music festival where revellers dress like murderous clowns and share double bongs

That takes the total of funds used by the disgraced former face of the company to around $22 million (£20 million).

A spokesman for WWE said: “On July 25, 2022, the Company announced that it had made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future totalling $14.6 million) were not appropriately recorded as expenses in the Company’s consolidated financial statements.

“Since that time, the Company has determined that two additional payments totalling $5.0 million, unrelated to the allegations that led to the Special Committee investigation, that Mr. McMahon made in 2007 and 2009 should have been recorded in the Company’s consolidated financial statements.

“Together, these unrecorded expenses total $19.6 million.

“The Company has evaluated the Unrecorded Expenses and has determined that such amounts should have been recorded as expenses in each of the periods in which they became probable and estimable.

  • WWE discovers former chief Vince McMahon made £12m in payments that weren't on expenses

“All payments underlying the Unrecorded Expenses were or will be paid by Mr. McMahon personally.”

The Special Committee investigation remains ongoing, and it was not detailed exactly what the controversial 76-year-old spent the latest amounts of money on.

Mr McMahon shocked the wrestling world by announcing his impromptu retirement from the business – thus releasing himself of any positions within the company – in a tweet earlier this month.

To get more stories from Daily Star delivered straight to your inbox sign up to one of our free newsletters here .

READ MORE:

  • For more of the latest news from the world of the Daily Star, check out our homepage.
  • Ex-WWE star Virgil boasts he's had sex with a million women – so people did the maths

  • Ex-WWE star CJ 'Lana' Perry says husband uncomfortable with 'hot wife' OnlyFans content

  • Future WWE star hunted down by police just months after signing contract

  • Impact Wrestling's Taya Valkyrie calls out WWE star Sasha Banks after company walk-out

Source: Read Full Article