Mark Walter’s group insists there is no ‘fire sale’ and ‘no fraud’

TWG Global hits out at ‘multipronged attacks’ on investment empire, which has stakes in high-profile sports teams

As reports and rumors continue to swirl around Dodgers owner Mark Walter amid his shocking sale of the Lakers this month and an ongoing federal investigation into potential improprieties in his business empire, the billionaire’s holding company released a defiant statement on Wednesday defending its business practices,

Walter is currently under investigation by the federal government for potential loan fraud

Mark Walter's TWG Global confirms investigations into fraud claims and states it is working with the DOJ and SEC "to resolve their inquiries."

The holding company also denied plans to sell sports assets at distressed prices, saying the Lakers sale represented a 25% premium to what Mark Walter paid

The empire of billionaire Los Angeles Dodgers owner Mark Walter has faced media scrutiny since he said he would sell his majority share of the LA Lakers.

Stan Kasten, a member of the PWHL's advisory board, confirmed the governance of the 12-team league would remain stable even as co-founder Mark Walter appears to be selling off pieces of his sports empire amid U.S. federal investigations into loans between his insurance companies and businesses with ties to Walter.

The recent sale of the Los Angeles Lakers has prompted speculation that other Walter-owned sports properties may be next.

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