According to several sources within WWE, the incident with Chris Jericho denigrating the Brazilian flag at WWE's 5/24 Sao Paulo live event, and his subsequent suspension, is completely legitimate and is said to be a major issue for WWE at the moment.

WZ has learned that Jericho was nearly arrested for the incident, and several within WWE feel the incident will irrevocably effect the company's relationship with the country of Brazil.

"This was not a case of Shawn Michaels sticking a Canadian flag up his nose," a source told WZ. "This is a different era, one in which you don't do things like this. You'd think WWE or Jericho would have learned from the mistake Dave "Fit" Finlay made."

We will continue to bring you the latest information on this story as it develops.