Mark Walter, owner of TWG Global and majority stakeholder in the Cadillac Formula 1 Team, is facing a proposed class-action lawsuit alleging fraudulent concealment, breach of contract, aiding and abetting fraud, and civil conspiracy, among other claims.
The suit, filed in the Southern District of Florida by law firm Robbins Geller Rudman & Dowd on behalf of 67-year-old Miami resident Ira Rosner, centres on an annuity purchased through Delaware Life Insurance Company. Delaware Life, Group 1001, TWG Global, and Guggenheim Partners are all named as defendants alongside Walter.
According to USA Today, the complaint alleges that Walter and the named companies conducted a “systematic scheme to conceal and misrepresent the allocation of insurer assets in entities affiliated with or…
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