TWG Global denies fraud claims and says Dodgers are not for sale amid investigations

In a detailed press release, TWG Global—Mark Walter’s holding company—refuted a series of unnamed accusations that it has engaged in fraudulent activity. The company emphasized that its business practices are sound and that the Los Angeles Dodgers are not subject to any sale process. It also countered claims that the recent $12.5 billion sale of the Los Angeles Lakers represented a desperate “fire sale,” noting a 25% appreciation since Walter’s purchase.

The release referenced a federal inquiry led by the U.S. Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission, which focuses on loans from Walter-controlled insurance firms to affiliated businesses. Subpoenas were reportedly issued to Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., and FBI agents seized Walter’s devices on a private jet in Chicago. TWG said it is working with regulators, has offered to purchase the questioned affiliated assets, and maintains that no victims have been harmed. The statement also dismissed earlier doubts about the 2012 acquisition of the Dodgers, citing an independent law-firm review that found no irregularities.