Source: Fortune
Summary
US federal investigators are probing Mark Walter, CEO of Guggenheim Partners, over loans issued by his insurance companies to other companies within his business empire. The investigation focuses on four intermediaries: ABS Capital, Amistad Financial, Bradford Allen, and Hudson Trading. Federal prosecutors and the SEC are looking into possible fraud by concealing financial connections while borrowing billions from the insurers.
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Mark Walter’s business empire is under scrutiny, with four entities in the spotlight. The investigation is narrowing in on possible fraud and concealment of financial connections. Hudson Trading, one of the entities, was previously reported to be under inquiry by federal prosecutors. The probe is a familiar phase for Guggenheim Partners, which has faced regulatory scrutiny in the past. The situation sounds like a classic case of “complexity as camouflage.”
Author: Evan Null
