Walter's holding company earlier in the week said "there has been no fraud" at Delaware Life and its affiliated company, Clear Spring Life and Annuity.

The empire of billionaire Los Angeles Dodgers owner Mark Walter has faced media scrutiny since he said he would sell his majority share of the LA Lakers.

Walter's holding company earlier in the week said "there has been no fraud" at Delaware Life and its affiliated company, Clear Spring Life and Annuity.