Vince McMahon quits WWE after being accused of sex trafficking and rape

Following accusations of sex trafficking and rape, WWE's co-founder and long-term chairman Vince McMahon quite the company and its parent body, TKO Group Holdings.

Though McMahon claimed that he was innocent and the allegations against him were all false, he said, 'out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately.'

According to The Washington Post, Janel Grant filed a lawsuit in Connecticut, US. In the court documents, she alleged that she was sexually abused by Mr McMahon while he was the Chief Executive Officer (CEO) of the WWE. She also described the "psychological torture and physical violence" she was subjected to by the former WWE chairman.

Defending himself, McMahon released a statement saying, 'I stand by my prior statement that Ms. Grant's lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.'