Mark Walter's $350 Million EquiTrust Sale to Magic Johnson Is Tied to 2012 Dodgers Bid

3 articles · Updated · Yahoo Sports · Sep 4

Pablo Torre reported that Mark Walter's $350 million sale of EquiTrust to Magic Johnson was an improper, undisclosed arrangement tied to Johnson's help in Walter's 2012 purchase of the Los Angeles Dodgers.
Sources cited by Torre said the 2015 transaction effectively repaid Johnson for using his profile and influence to help Walter's group win the Dodgers bid, a deal Torre said should have been disclosed as a related-party transaction.
The allegation adds to an FBI investigation into whether Walter's firms made unreported affiliated investments that could expose him to tax-fraud risk and scrutiny over the use of life-insurance funds.
Walter's camp has said the Dodgers purchase complied with all MLB rules and that an outside law firm found no irregularities, even as Torre's earlier Clippers reporting led this week to a $30 million NBA fine and five lost first-round picks.