US SEC and Prosecutors Investigate Chelsea, Lakers, and Dodgers Owner Mark Walter Over Insurance Transactions
Billionaire Mark Walter, owner of the Los Angeles Lakers, Los Angeles Dodgers, and co-owner of Chelsea FC, is under investigation by the US Securities and Exchange Commission (SEC) and the US Attorney's Office for the Southern District of New York. The probe focuses on two insurance companies under Walter's control: Delaware Life Insurance Company and Clear Spring Life and Annuity Company. Authorities are examining whether these firms fully disclosed asset ownership related to other parts of Walter's business empire. Walter's holding company, TWG Global, confirmed it is aware of and cooperating with the investigation, and is implementing a remediation plan to restructure certain investments. Walter, CEO of Guggenheim Partners with an estimated net worth of $7.3 billion, has used insurance companies to fund major sports acquisitions, including the $2 billion purchase of the Dodgers in 2012 and his stake in Chelsea acquired in 2022.
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