Dodgers and Former Lakers owner Mark Walter is under federal investigation for possible loan fraud involving $21 billion in policyholder money loaned through third parties to businesses tied to his own empire
Federal authorities are investigating whether two insurers controlled by Walter properly disclosed billions in loans that passed through third parties before reaching businesses tied to his own empire.
Two insurers he controls originally reported about \(1 billion in related-party loans, but later reclassified roughly \)21 billion, taking that exposure from 2% to around 40% of their portfolios. Federal authorities are investigating whether the loans were properly disclosed and whether fraud occurred.