DOJ Investigates Mark Walter's Insurance Business and Bond Ratings
The Department of Justice sought records from Egan-Jones Ratings Company as part of an investigation into billionaire Mark Walter's business dealings, particularly regarding his insurance companies' bond investments. Egan-Jones provided the sole known ratings for over 20% of the bonds in Walter's investment portfolio, raising questions about potential conflicts of interest or rating practices.
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To Probe Mark Walter’s Business, DOJ Sought Egan-Jones’ Records
The Department of Justice sought records from ratings firm Egan-Jones as part of an investigation into billionaire Mark Walter's business practices. The investigation focused on Walter's insurance companies' bond investments, which heavily relied on Egan-Jones ratings for over a fifth of their assets, often being the only available ratings for these securities.
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