Federal investigators subpoenaed two insurers tied to Mark Walter over undisclosed $16bn in private credit holdings linked to his empire.
US federal prosecutors are scrutinizing Delaware Life Insurance and Clear Spring Life and Annuity, controlled by billionaire Mark Walter, for potential financial irregularities. The investigation centers on the companies’ failure to disclose that billions in private credit holdings were tied to other segments of Walter’s business empire, according to filings dated 26 June.
The probe follows earlier inquiries into Guggenheim Partners, which oversees $362bn in assets, focusing on revenue disclosures to external parties. The SEC is conducting a parallel review, while the FBI executed a search warrant in September, seizing a mobile device, though its connection to the investigation remains unclear.
Walter’s business interests include ownership stakes in the Los Angeles Dodgers, Lakers, and Chelsea FC. The insurers are owned by Group 1001, which has not commented on the ongoing investigations.