Magic Johnson and Mark Walter face allegations of undisclosed $350M dealings

Magic Johnson Mark Walter Los Angeles Dodgers EquiTrust Life Insurance financial investigation

Journalist Pablo Torre has raised allegations regarding undisclosed financial dealings between Los Angeles Dodgers co-owner Mark Walter and Lakers Hall of Famer Magic Johnson.

According to Torre and Sam Koppelman of Hunterbrook Media, Johnson became a billionaire after purchasing EquiTrust Life Insurance Company from Walter in 2014. The investigation alleges that the transaction was not disclosed as an affiliate transaction and that EquiTrust subsequently loaned $350 million to Walter’s media company.

Federal authorities are reportedly investigating Walter’s business empire following these allegations, which suggest that undisclosed transactions may have impacted the public by utilizing funds to assist in the acquisition of expensive sports teams.

Entities

Magic Johnson · Mark Walter · Pablo Torre

Sources

Pablo Torre alleges bombshell $350M shady dealing between Magic Johnson, Mark Walter [nypost.com]

8 days ago

Pablo Torre Sounds Off on the NBA’s Historic Ruling Against the Clippers, Kawhi Leonard and ESPN — and Teases His Next Big Sports Investigation [variety.com]

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