After federal subpoenas, Mark Walter tapped a Magic Johnson-linked firm for billions in loans

Billionaire sports mogul and Los Angeles Dodgers owner Mark Walter secured $2.31 billion in loans from Amistad Financial Group, a firm co-owned by Magic Johnson, between March and June 2026. The borrowing began shortly after Walter's own insurance firms stopped lending to him following federal grand jury subpoenas. The parallel investigations by the U.S. Department of Justice and the Securities and Exchange Commission center on undisclosed affiliated lending across Walter's corporate network.

The loans were issued via Amistad subsidiaries Equitrust Life Insurance Co. and Heritage Life Insurance Co., directly to Walter's entities and through intermediaries. While Walter holds a minority non-controlling stake in Amistad and shares deep operational connections with the firm, representatives for Walter and Johnson did not comment on the transactions.