American billionaire and sports magnate Mark Walter — owner of the Los Angeles Dodgers, Lakers and Sparks, the entire Professional Women's Hockey League and a stakeholder in Chelsea FC — presides over one of the most enviable empires in athletics.
But now, reports say that authorities are calling a foul on alleged potential insurance fraud by other companies tied to Walter.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's what it is and 3 simple steps to fix it ASAP
Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going
Delaware Life Insurance Co. and Clear Spring Life and Annuity Co. are under parallel investigations by the Securities and Exchange Commission and the U.S. Attorney's Office in Manhattan, according to the Wall Street Journal (WSJ), over billions of dollars in loans "extended to companies tied to Walter or his conglomerate, TWG Global." The latter also holds the controlling stakes in both insurance companies, the outlet added.
The investigation revolves around the growing practice of life insurers chasing higher yields and diversification via private credit investments — which gained prominence in the fallout of the 2008 financial crisis. Investigators are reportedly looking into the...
EXCLUSIVE: The White House and Department of Homeland Security are pushing back on "false narratives" being advanced by the mainstream media and bringing the receipts after the Washington Post and ...