US prosecutors investigating firms run by billionaire owner of LA Dodgers, Lakers and Chelsea [Mr02eHXl7rk]
US prosecutors investigating firms run by billionaire owner of LA Dodgers, Lakers and Chelsea. US prosecutors are reportedly investigating companies run by Mark Walter, the billionaire owner of the Los Angeles Lakers, the Los Angeles Dodgers and the co-owner of Chelsea. Walter, who is the CEO of investment firm Guggenheim Partners and is estimated to be worth $7.3billion, has become one of the most powerful figures in sports after making his fortune on Wall Street. But, as reported by Bloomberg and the Financial Times, two of Walter's insurance companies are facing subpoenas from the US Attorney's Office for the Southern District of New York and the US Securities and Exchange Commission. It's claimed both Delaware Life Insurance Company and Clear Spring Life and Annuity Company face questions over whether they adequately disclosed ownership of assets related to other parts of Walter's business empire.