US regulators investigate $16 billion in possibly fraudulent loans
The business empire of Dodgers and Lakers owner Mark Walter is being probed by the U.S. Attorney’s Office and securities regulators.
The investigation centers on $16 billion in loans made by two Delaware life insurers that Walter owns to companies tied to him or his TWG Global holding company.
These loans were not disclosed as required, potentially limiting conflicts of interest and protecting policyholders.
Walter’s business ventures include owning the Dodgers, acquired for $2.15 billion in 2012, and the Lakers, acquired at a $10 billion valuation last year.