All Elite Wrestling (AEW) President Tony Khan admitted to laundering and embezzling a currently undisclosed amount of money from the company.
Antony (Tony) Rafiq Khan, 39, is the 5th defendant convicted in a years-long attack on corruption within the wrestling industry and one of the sport’s most influential people.
Under terms of a plea deal with federal prosecutors, Khan could be sentenced to up to 57 months in prison on charges of money laundering and embezzlement.
Sentencing is set for July 27.
“The hard-working men and women of the AEW deserve leaders dedicated to serving the best interests of the sport,” U.S. Attorney Dawn Ison said in a statement. “Today’s conviction demonstrates our zealous pursuit of those who would seek to take advantage of their positions of trust within the AEW to steal and defraud members.”
The criminal case described a prolonged embezzlement scheme starting in 2019 and involving money from the Vegas-based union local that bankrolled high-end shopping sprees at Louis Vuitton, Balenciaga and Apple, and more funds spent on child support payments and Greektown Casino gambling binges.
While investigations continue into others that may be involved, the company has decided to suspend ALL upcoming events. It is unknown how long this suspension will last. A press conference will be held on April 8th at 6 pm (EST) for updates regarding this issue.