(CTN News) – A new report from The Wall Street Journal alleges former WWE boss Vince McMahon paid Donald Trump’s foundation $5 million in 2007 and 2009.
Several weeks ago, Vince McMahon retired as CEO of the company amid investigations into hush payments he made.
As a result, WWE said its board’s independent investigation is “substantially complete.”
Approximately $20 million of the payments went to women who accused Vince McMahon and another WWE executive of sexual misconduct. Another $5 million was used for unrelated purposes.
A source told the Journal that the $5 million was donated to the now-dissolved Donald J. Trump Foundation.
While Trump appeared on WWE televised events for two years, he donated to the organization.
A WWE spokesperson did not immediately respond.
In 2018, Trump dissolved the foundation after a lawsuit alleged he used the charity’s funds for his 2016 presidential campaign, to pay legal settlements, and to promote his business.
Vince McMahon paid $14.6 million to settle sexual misconduct allegations less than a month after the SEC and federal prosecutors launched investigations.
A WWE attorney told the Wall Street Journal that McMahon was a principal shareholder and the payments benefited the company.
In the first appearance, Trump received $1 million and the McMahons contributed $4 million to his foundation.
McMahon and his wife, Linda, donated $1 million to the foundation for Trump’s second appearance.
In its security filings, WWE said this month that the $5 million came directly from McMahon personally, not WWE.
Vince McMahon remains WWE’s top shareholder despite leaving the company.
About 40 years ago, he bought the company from his father. In addition to Nick Khan, Stephanie McMahon is now co-CEO.