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    "original_url": "https:\/\/www.nytimes.com\/athletic\/7606445\/2026\/09\/17\/mark-walter-insurance-fraud-lawsuit-dodgers-lakers\/?emc=edit_nn_20260918&nl=the-morning&segment_id=226681",
    "parsed_content": "Los Angeles Dodgers owner Mark Walter is the subject of a class-action lawsuit alleging multiple insurance companies he owns hid an ongoing federal investigation from customers while funneling those customers\u2019 money into Walter\u2019s other companies.The insurance firms Delaware Life Insurance Company, Clear Spring Life and Annuity, TWG Global Holdings and Guggenheim Partners are named as defendants in the fraud suit, alongside Walter himself.At the core of the suit are allegations that the insurance companies misled policyholders about the structure of their annuity packages by secretly sending their money into a fund fueling Walter\u2019s larger business network. That fund allegedly helped Walter buy the Dodgers in 2012 and a majority share of the Los Angeles Lakers in 2025, along with a raft of other investments.In typical annuity plans, policyholders make payments to insurers, which then invest that money into stocks, bonds or index funds that pay the customer interest over time. Insurers normally invest their customers\u2019 money into relatively safe assets and, by law, must notify regulators about any investments made in entities affiliated with the insurer.Walter\u2019s firms Delaware Life and Clear Spring allegedly reported having 3 percent of their assets in affiliated companies, but were actually investing 42 percent of those payments in companies affiliated with the billionaire\u2019s other business interests, accounting for nearly $17 billion. The companies described the discrepancy as an internal labeling error.\n \n \n \n \n What You Should Read Next\n \n \n \n \n Adam Silver: NBA saw \u2018no red flags\u2019 in vetting Mark Walter\u2019s Lakers purchase\n \n \n The NBA commissioner defended the league\u2019s vetting process following the Board of Governors meeting Tuesday.\n \n \n \n \n \n According to the suit, however, they \u201cguaranteed lifetime income and other benefits backed by the issuing insurer\u2019s financial strength\u201d while knowingly dependent on Walter\u2019s personal finances.The lawsuit, brought by 67-year-old Ira Rosner of Florida, further alleges the insurers concealed that information and the fact that they were already under investigation by the U.S. Attorney\u2019s Office for the Southern District of New York and the Securities and Exchange Commission for potential self-dealing.Despite receiving grand jury subpoenas from the U.S. Attorney\u2019s Office in February, the lawsuit alleges, the insurers intentionally hid the ongoing investigation when it sold Rosner his policy in April. Rosner had until late May to withdraw his money without penalty, but the insurers did not disclose the investigation to him until June, he claims, essentially trapping him.Rosner is bringing the lawsuit as a class-action covering other policyholders whose 30-day refund deadlines lapsed before the insurers\u2019 intentionally delayed disclosure. The lawsuit stated that the class likely includes hundreds of thousands of people, mostly senior citizens.\u201cEach of them was sold an annuity by an insurer that already knew it was under federal criminal investigation for the very asset classification it was representing, and each of them lost a costless right of return while that fact was withheld,\u201d the lawsuit stated.\u201cHad the truth been disclosed at any point before that date, Plaintiff and every member of the Post-Subpoena Purchaser Subclass would have exercised the right and recovered every dollar. Defendants\u2019 silence converted a costless exit into a 10 percent penalty, if they would have purchased the annuity at all.\u201dRosner accuses the firms of fraud, negligent misrepresentation, breach of contract and civil conspiracy, among other grievances. The Athletic sent a request for comment on the case to TWG Global\u2019s chief legal officer, David Markowitz, but did not receive an immediate response.CHCCIN86% Picked14% Picked168 votesThe Athletic reported last month that two policyholders filed a class-action lawsuit in 2014, alleging Walter and fellow financier and Dodgers co-owner Todd Boehly used the companies \u201cas a cash machine to buy the most expensive sports franchise in world history, the Dodgers, with over a billion dollars in policyholders\u2019 funds.\u201d The lawsuit was dropped without explanation one day after being filed. A Kansas judge dismissed a separate lawsuit by a policyholder with similar claims in 2019.Walter\u2019s Guggenheim Partners purchased the Dodgers in 2012, and in June 2025, Walter purchased the Lakers at a then-record $10 billion valuation. But just over a year later, in August, Walter agreed to sell the team to former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner for $12.5 billion. The sale still requires approval from the NBA\u2019s Board of Governors.On Wednesday, Clearlake Capital announced it was purchasing Walter\u2019s and Boehly\u2019s stakes in English Premier League side Chelsea, which they purchased in 2022.Walter still owns the WNBA\u2019s Los Angeles Sparks, the Professional Women\u2019s Hockey League, Cadillac\u2019s F1 team and the holding company behind tennis\u2019 Billie Jean King Cup.Dodgers president and CEO Stan Kasten has said multiple times since Walter agreed to sell his share of the Lakers that the Dodgers are not for sale.\nMatt Moret is a Staff Editor for The Athletic's news team. Prior to joining The Athletic, he worked as the statewide morning news editor for Colorado Public Radio and Denverite. He was also a digital editor for the Pittsburgh Post-Gazette. He's originally from the Philadelphia area.Follow Sep 18, 2026SPONSORED BYConnections: Sports EditionSpot the pattern. Connect the termsFind the hidden link between sports termsSPONSORED BYPlay today's puzzleWhat did you think of this story?MEHSOLIDAWESOME",
    "published_at": "2026-09-18T02:54:55+00:00",
    "author_name": "Matt Moret",
    "site_name": "The Athletic",
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    "ai_headline": "Los Angeles Dodgers owner Mark Walter is the subject of a class-action lawsuit alleging multiple insurance companies he owns hid an ongoing federal investigation from customers while funneling those customers\u2019 money into Walter\u2019s other companies.",
    "ai_simplified_title": "Mark Walter Sued Over Alleged Insurance Fraud and Hidden Federal Probe",
    "ai_excerpt": "Dodgers owner Mark Walter faces a class-action lawsuit alleging his insurance companies hid a federal investigation and funneled customer funds into his other businesses, including sports team purchases. The suit claims policyholders were misled about annuity investments.",
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