Bloomberg Podcasts · Magic Johnson's Insurance Ties Drawn Into Mark Walter Scrutiny

1. 1. Mark Walter's sports team partners, including Magic Johnson, own insurance companies that are interconnected and advised by Guggenheim Partners.
2. 2. Magic Johnson bought insurer Equity Trust from Guggenheim Partners in 2015, and it was sold to Amistad last year.
3. 3. Walter's insurers made undisclosed affiliated investments using intermediaries to mask the flow of money to his businesses.
4. 4. Insurance companies now owned by Amistad, including those tied to Magic Johnson, invested over $4 billion in the same intermediaries.
5. 5. There is no suggestion that Magic Johnson is under scrutiny or should be under scrutiny in this investigation.
6. 6. Amistad is under scrutiny as a potential intermediary funneling money from Walter's insurers to his businesses.
7. 7. Magic Johnson and his businesses have not responded to requests for comment on this reporting.
8. 8. Mark Walter is selling high-profile investments, including the Lakers and his Chelsea stake, and unwinding loans between his insurers and affiliated investments.