Los Angeles Dodgers and Lakers owner Mark Walter is reportedly tied to a federal investigation involving billions of dollars in loans made through his insurance business. According to The Wall Street Journal, federal prosecutors and securities regulators are examining whether companies in Walter’s insurance empire failed to properly disclose approximately $16 billion in loans made to businesses affiliated with him. The report says two Delaware-based life insurance companies owned by Walter recently revised their reported related-party exposure from about $1 billion to nearly $16 billion. Investigators are reportedly looking into whether the loans, made to companies connected to Walter or his TWG Global holding company, should have been identified as related-party transactions under financial reporting requirements. Walter has not been charged with any wrongdoing, and the investigation remains ongoing. His insurance-backed financial ventures have helped fund several high-profile investments, including the record-setting purchase of the Dodgers in 2012 and his controlling stake in the Lakers acquired last year.
