Former WWE impresario Vince McMahon agrees to settle allegations by the SEC that he paid millions in hush money to two women without telling his board.

Vince McMahon, the former World Wrestling Entertainment chief executive, settled U.S. Securities and Exchange Commission charges he concealed from the company's board two settlement agreements worth $10.

The SEC announced Friday that it settled charges against Vince McMahon, former CEO of WWE, that he made personal payments that “circumvented WWE's system of internal accounting controls” and caused material misstatements in the company’s 2018 and 2021 financial statements McMahon consented to the entry of the SEC's order finding that he violated the Securities

WASHINGTON (Reuters) - Vince McMahon, the billionaire former wrestling executive, was indicted on Friday on charges of failing to disclose to World Wrestling Entertainment two settlement agreements he executed on the company's behalf, the U.S. Securities and Exchange Commission said in a statement.

The SEC says it has settled charges against former WWE CEO Vince McMahon over his failure to disclose that he signed two settlement agreements worth $10.5 million with two women in order for them not to reveal potential claims against himself and WWE.

The wrestling entrepreneur settled charges he failed to properly disclose payments to women alleging sexual misconduct.

Vince McMahon, the former chief executive of World Wrestling Entertainment, agreed to pay more than $1.7 million to settle U.S. Securities and Exchange Commission charges he signed two settlement agreements without disclosing them to company officials.