Pablo Torres alleges bombshell $350M shady dealing between Magic Johnson, Mark Walters
Pablo Torre broke the biggest story in sports when he delved into the Los Angeles Clippers and Kawhi Leonard investigation.Torre, a Pulitzer-winning journalist, has now taken an interest in investigating the situation surrounding the Los Angeles Dodgers and owner Mark Walter, who has been accused of committing fraud through his insurance companies.Torre uncovered seemingly illicit ties between Lakers Hall of Famer Magic Johnson and Walter on his podcast, Pablo Torre Finds Out.As a minority owner of the Dodgers, Johnson became a billionaire.Johnson is the majority owner of EquiTrust Life Insurance Company since April 25, 2014, which was sold to him by Walter.
The asset became Johnson’s largest of his business portfolio, helping the Lakers legend reach billionaire status in 2023.“EquiTrust, which is this life insurance company, was being sold by Mark Walter to Magic Johnson, his fellow Dodgers co-owner.And it was also loaning $350 million to Mark Walter’s media company…” Torre said.
The transaction was allegedly not disclosed as an affiliate transaction, according to Torre and Sam Koppelman of Hunterbrook Media.The undisclosed transactions have led federal authorities to investigate Walter’s business empire because it seemingly has affected the public.“And by these people, Pablo means you, the ordinary Americans whose money has been used to help fund the purchases of these sports teams as they’ve gotten ever more expensive,” Koppelman said.“Someone is getting screwed over here.
And it’s not Magic Johnson and it’s not Mark Walter.It’s potentially the ordinary Americans whose money is being invested…”Torre also ties this to the sale of the Dodgers to Walter.
David Samson, a former president of the Miami Marlins, appeared on the Pablo Torre Finds Out podcast and explained MLB owners were caught by surprise about Walter’s purchase of the Dodgers.“[Mark Walter] didn’t have a sports empire at that time.We assumed that Magic Johnson w...