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Lakers majority owner Mark Walter is reportedly under federal investigation as authorities examine potential financial improprieties involving parts of his business empire.
According to Bloomberg, federal prosecutors and the U.S. Securities and Exchange Commission are investigating whether two insurance companies controlled by Walter and Guggenheim Partners LLC failed to disclose that certain private credit investments were backing other businesses within his broader financial network.
Bloomberg reported that the insurance companies received grand jury subpoenas in February, citing regulatory filings made public in June. The investigation remains ongoing, and no criminal charges have been announced.
Walter controls the insurance companies through TWG Global and also holds an ownership stake in Guggenheim Partners, according to Bloomberg.
While Walter is widely known in the financial world, sports fans recognize him as one of the most influential owners in professional sports. He finalized his purchase of a majority stake in the Lakers last year, with longtime executive Jeanie Buss remaining governor and continuing to oversee the franchise’s day-to-day basketball operations.
In addition to the Lakers, Walter owns the Los Angeles Dodgers and the Los Angeles Sparks, while also holding ownership interests in Chelsea FC, the Professional Women’s Hockey League and several other sports properties.
Neither Walter nor TWG Global has publicly commented on the reported investigation. Bloomberg reported that the federal inquiry is ongoing, and the allegations have not been proven in court.
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