The federal investigation into Los Angeles Lakers owner Mark Walter intensified a year ago, according to recently surfaced details. It centers on approximately $16 billion in private credit loans issued by two Delaware-based life insurance companies, Delaware Life Insurance Co. and Clear Spring Life and Annuity Co, linked to Walter or his TWG Global holding company. The billionaire faced action while at a Chicago airport, with his belongings being confiscated.

Bloomberg reported that the FBI “carried out a search warrant” and “seized the mobile phone and computer” of Walter aboard a private aircraft at Chicago’s Midway International Airport last September. People familiar with the situation preferred to remain anonymous while discussing the highly “confidential matter.” Although this happened ten months ago, the revelation emerges at a critical point for the 66-year-old billionaire.

That’s because in October, a month after the incident, the NBA Board of Governors finalized the Lakers’ $10 billion sale to Walter. Neither Walter nor any of his entities has been charged with criminal wrongdoing so far, and legal experts note that similar inquiries often conclude without any charges filed or formal indictments.

The news of the electronic device seizure follows a report from The Wall Street Journal detailing how federal prosecutors in Manhattan and regulators at the Securities and Exchange Commission (SEC) “are examining” how the billions issued in loans to companies tied to Walter wound up on the books of insurance companies he owns after passing through a third entity.

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In the last 48 hours, it was also revealed that an internal whistleblower raised concerns about how Guggenheim Investments records certain revenue figures. It is the $362 billion asset-management arm of Guggenheim Partners, where Walter serves as chief executive, and facilitated the purchase of the Dodgers.

Regulatory rules require insurers to disclose related-party transactions to prevent conflicts of interest and protect policyholders. Delaware Life initially reported approximately $1 billion in affiliated investments, later revising the amount to $16 billion.

Although Walter has not directly responded to any media outlet, a TWG spokesperson has stated that all operations strictly comply with legal and regulatory standards. “Mark Walter and TWG have always acted in good faith,” the representative told WSG, adding that the companies are fully cooperating with authorities and expect a positive outcome.

Now comes the question that’s been bothering fans of the teams he owns.

Does the FBI probe into Mark Walter affect the Lakers?

Mark Walter’s sports teams, the Dodgers and Lakers, are not subject to this investigation. No aspects of the federal inquiry relate to the team’s management or day-to-day activities yet. The device seizure occurred before Walter finalized his purchase of the Lakers, and there is no evidence to specifically link the NBA team’s record-breaking transaction to it.

Since confirming the sale, the Lakers, who remain under Jeanie Buss’ governance, have made several moves both on the court and in the front office. While numerous staff members were laid off in May as part of a “reorganization” under new leadership, the Lakers also let LeBron James, Marcus Smart, and Rui Hachimura walk out the door and traded other rotation pieces. They’ve subsequently spent upwards of $250 million in signings to secure the new core around Luka Doncic and Austin Reaves.

While basketball fans have drawn comparisons to other ongoing league inquiries across the NBA landscape, the investigation into Walter’s businesses remains strictly an off-the-court federal matter concerning private asset management and insurance disclosures.