Mark Walter's TWG Global blasts 'attacks,' insists 'no fraud' amid federal probe

Mark Walter's TWG Global blasts 'attacks,' insists 'no fraud' amid federal probe Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Key Points Mark Walter's TWG Global blasted what it called "multipronged attacks" against the holding company and its subsidiaries, and said "despite what has been reported, there has been no fraud" at those companies. The statement came amid a flurry of media reports about Walter's empire and federal criminal and civil investigations into the accounting for related-party financial transactions by two of his insurers. "TWG is not looking to sell its sports assets at 'fire sale' prices to raise capital for its insurance operations," the holding company said. Los Angeles Dodgers chairman Mark Walter during a press conference at Dodger Stadium in Los Angeles, March 25, 2026. Keith Birmingham | MediaNews Group | Pasadena Star-News | Getty Images Mark Walter's TWG Global, in an extraordinary statement Tuesday morning, blasted what it called "multipronged attacks" against the holding company and its subsidiaries, and said "despite what has been reported, there has been no fraud" at those companies. TWG also said it "is not looking to sell its sports assets at 'fire sale' prices to raise capital for its insurance operations." The statement came amid a flurry of media reports about Walter's empire and federal criminal and civil investigations into the accounting for billions of dollars of financial transactions between two of his insurers and companies controlled by the Los Angeles Dodgers owner. The comments are the most detailed and strongest by TWG since the probes into the insurers gained renewed attention after Walters said he would sell his majority stake in the Los Angeles Lakers earlier in August, less than a year after buying the team. "TWG and the Group 1001 insurance companies have presented a plan to address any regulatory concerns," TWG Global said in the statement. "Over the past several weeks, multipronged attacks against TWG have been advanced by unnamed sources with self-serving interests that have been reported in the media. It is important to set the record straight," the statement said. "TWG stands firmly behind the integrity of its business and remains focused on continuing to deliver value to its stakeholders." "Despite what has been reported, there has been no fraud," the company said. Read more CNBC politics and policy coverage Canada unveils retaliatory tariffs on about $20B of U.S. goods Trump targets Iran's trade lifelines — here are the countries most exposed Mark Walter's TWG Global hires Goldman vet Markowitz as top lawyer amid probe Trump oil and gas stocks gained up to $15.5 million, Democrats say Trump admin unveils anti-Iran global sanctions plan, signals China not exempt This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.