Banks pause Delaware Life sales as federal probes into Mark Walter's empire intensify
Truist Financial and Fifth Third Bancorp paused selling products from Mark Walter’s Delaware Life amid U.S. probes into how the insurer’s parent TWG Global reported about roughly $20 billion of assets affiliated with related entities. Delaware Life says there is no fraud, and it continues meetings with banks while working to reduce affiliated-party assets. Investigations by the Manhattan U.S. Attorney’s Office and the SEC follow subpoenas and prior FBI activity related to Walter’s businesses.
