Mark Walter’s TWG Global blasts ‘attacks,’ insists ‘no fraud’ amid federal probe

Mark Walter’s TWG Global, in an extraordinary statement Tuesday morning, blasted what it called “multipronged attacks” against the holding company and its subsidiaries, and said “despite what has been reported, there has been no fraud” at those companies.

The statement came amid a flurry of media reports about Walter’s empire and federal criminal and civil investigations into the accounting for related-party financial transactions by two of his insurers

“TWG and the Group 1001 insurance companies have presented a plan to address any regulatory concerns,” TWG Global said in the statement.

“Over the past several weeks, multipronged attacks against TWG have been advanced by unnamed sources with self-serving interests that have been reported in the media. It is important to set the record straight,” the statement said.

“TWG stands firmly behind the integrity of its business and remains focused on continuing to deliver value to its stakeholders.”

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