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Dodgers owner Mark Walter sued over alleged failure to disclose federal probe to policyholders · Best of: Features

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  Dodgers owner Mark Walter sued over alleged failure to disclose federal probe
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  to policy holders. This article is being read by an automated voice,
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  generated by Everlet. Miami, the AP. Los Angeles Dodgers owner
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  Mark Walter and multiple insurance companies he owns have been sued, alleging
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  they failed to disclose an ongoing federal probe to customers while directing
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  policyholders money into Walter's other companies. The lawsuit lists Walter Delaware Life
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  Insurance Company, Clear Spring Life in Annuity, T W G Global Holdings,
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  and Walter's Guggenheim Partners Investment Firm as defendants. Ira Rosner, a sixty
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  seven year old Florida man, brought the class action lawsuit in U.
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  S. District Court in Miami on Wednesday. He purchased a policy from
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  Delaware Life in April, and he had until late May to withdraw
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  his money without penalty. However, the company did not disclose the investigation
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  to him until June. Rosner is seeking a jury trial in the
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  lawsuit that seeks damages for negligent misrepresentation, breach of contract, and aiding
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  and abetting fraud. TWG Global didn't immediately respond to a request for
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  comment on the lawsuit. Walter has been under investigation since last year
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  by the U. S. Attorney's Office in Manhattan and the Securities and
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  Exchange Commission, following a whistleblower complaint regarding alleged misrepresented loans made
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  between companies within his business portfolio. TWG Global Holdings is the holding
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  company through which Walter controls Delaware Life, Clear Spring Life and Annuity
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  Company, and his stake in Guggenheim partners. TWG Global denied any wrongdoing
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  involving The
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  probe in a statement last month. Walter and co owner Todd Bowley
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  sold their stakes in English Premier League club Chelsea this week. Last
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  month, Walter agreed to sell the Los Angeles Lakers in a surprise
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  move less than a year after buying the NBA franchise from the
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  Buss Family. The deal is under review by the league. The Dodgers
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  have been adamant that Walter has no plans to sell the baseball
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  team. See the AP's full MLB coverage here.