Tag

Delaware Life

All articles tagged with #delaware life

business7 days ago•3 min saved

Insurer tied to Dodgers owner trims $6.5B of investments as fraud probes mount

Mark Walter’s Delaware Life Insurance, a unit of TWG Global, will swap up to $6.5 billion of related-party investments for independent assets amid regulatory scrutiny into his financing dealings; federal prosecutors and the SEC are examining whether Walter and his companies concealed financial connections while borrowing from insurers he controls, with S&P cutting Delaware Life’s outlook after restating financials and reclassifying private credit investments.

via nypost.com|

#business #delaware-life #fraud-probes

business7 days ago•10 min saved

Walter’s high-stakes pivot: Lakers sale amid federal probes into his insurance empire

Mark Walter, Dodgers owner since 2012 and a brief Lakers owner, is selling the Lakers for a record price as federal investigators scrutinize his insurance businesses (Delaware Life and its affiliates) with grand jury subpoenas and an SEC inquiry, after the FBI seized devices; the saga, plus his White House appearance, highlights how the low-profile billionaire now sits at the center of a high-profile sports-and-finance spotlight.

via The New York Times|

#business #delaware-life #dodgers

business9 days ago•7 min saved

Lakers Sale Stands Under Federal Scrutiny of Walter’s Insurance Empire

Lakers owner Mark Walter sold a controlling stake in the team for $12.5 billion to Bob Iger and Joshua Kushner as federal probes into his insurers, Delaware Life and Clear Spring Life, scrutinize billions in related-party loans and restatements to determine disclosure and potential criminal or civil risk, with no charges filed yet; the sale may help address debt and regulatory pressure amid ongoing investigations by DOJ and SEC.

via Los Angeles Times|

#business #delaware-life #federal-investigation