The Securities and Exchange Commission says that it has settled charges against former WWE CEO Vince McMahon over his failure to disclose to the sports entertainment company's board and others that he signed two settlement agreements worth $10.

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.

McMahon stepped down as executive chairman of WWE’s parent company. Grace Harrington. Breaking News Intern.

Vince McMahon, who left his longtime perch at WWE under a cloud last year, is paying more than $1.7 million to settle charges from the SEC alleging he failed to disclose hush money payments to two women.

World Wrestling Entertainment founder Vince McMahon will pay more than $1.7 million after he was accused of not disclosing payment agreements related to sexual misconduct with two women, officials said.

The Securities and Exchange Commission says that it has reached a settlement deal with former WWE CEO Vince McMahon relating to undisclosed payments to an employee and an independent contractor with whom he allegedly had relationships with. McMahon will pay a $400,000 civil penalty, and will reimburse the WWE more than $1.3 million.

After being charged with failing to disclose his settlement agreements with his Board, Vince McMahon has agreed to a settlement with the SEC. McMahon will pay a $400,000 civil penalty and

CNBC first reported the news of McMahon resolving the charges. The SEC says McMahon agreed to pay a $400,000 civil penalty and reimburse the WWE $1.33 million after consenting to an order finding that he violated the Securities Exchange Act.

The former head of World Wrestling Entertainment has reportedly settled with the SEC and will pay a fine and reimburse WWE for the funds uses.