Federal agents seized a mobile phone and laptop belonging to Los Angeles Lakers owner Mark Walter as part of a wide-ranging investigation into the financial dealings of his business empire, according to reports from Bloomberg and The Wall Street Journal.
The seizure reportedly occurred on September 18, 2025, while Walter was aboard a private aircraft at Chicago Midway International Airport. The FBI’s Chicago field office confirmed that agents executed a court-authorized search for electronic devices on an aircraft, although it did not publicly identify Walter or provide further details about the evidence being sought.
The investigation is focused on Walter’s financial and insurance businesses – not the operations of the Lakers, Los Angeles Dodgers or his other sports franchises.
Federal prosecutors in Manhattan and the Securities and Exchange Commission are examining transactions involving Guggenheim Investments, Walter’s TWG Global conglomerate and insurance companies under his control. Investigators are reportedly reviewing how approximately $16 billion in loans connected to Walter-related companies ultimately appeared as investments held by his insurers. Authorities are attempting to determine whether the transactions were properly identified and disclosed, and whether any conduct amounted to fraud.
The inquiry reportedly began after an internal whistleblower raised concerns about how Guggenheim Investments recorded revenue connected to insurance transactions. Delaware Life Insurance and Clear Spring Life and Annuity later disclosed that they had received subpoenas and identified errors concerning the classification and presentation of certain related-party investments.
Delaware Life subsequently reclassified roughly $16 billion in assets as affiliated investments. The change significantly increased the reported percentage of its portfolio connected to related entities and prompted additional scrutiny from regulators and credit-rating agencies.
Walter and his companies have not been charged with a crime. The seizure of his devices does not establish wrongdoing, and it remains unclear whether the investigation will result in charges or other enforcement action.
TWG Global has said Walter and the company acted in good faith, are cooperating with authorities and expect the matters to be resolved favorably.
Walter’s growing sports portfolio makes the investigation especially notable. In addition to his controlling interest in the Lakers, he is the principal owner of the Dodgers and holds investments in several other major sports organizations.
For the Lakers, there is currently no reported indication that the investigation involves team finances, basketball operations or the franchise’s ownership transaction. The matter is nevertheless significant because it concerns the business network of the organization’s controlling owner.
