Federal Investigators Probe Mark Walter Over Fraud in $17 Billion Private-Credit Business
A federal investigation into Mark Walter’s finance business has expanded to examine potential fraud in private-credit deals, following an internal whistleblower’s initial report.
Subpoenas prompted one insurer to raise its affiliate exposure from 3% to 39%, totaling $17 billion. A prior lawsuit alleged policyholder funds helped finance the Dodgers, which Walter also owns along with the Lakers and Chelsea Football Club.
From the sources (2 posts)
@wsjmarketsA federal probe into the financial empire of Dodgers owner Mark Walter began with an internal whistleblower and evolved into an examination of whether fraud occurred in private-credit deals.
@nicknemo17Mark Walter owns the Dodgers, Lakers and Chelsea. His insurance empire is under federal investigation. After subpoenas, one insurer’s affiliate exposure jumped from 3% to 39%—$17B. A prior lawsuit alleged policyholder money helped fund the