Ross Gerber Says Mark Walter's Lakers Sale Wasn't a Choice: 'Something Shady Going On'

Investor Ross Gerber said Los Angeles Lakers owner Mark Walter didn’t sell the team by choice, but because the federal investigation into his insurance-linked business empire left him no other option. Violates Insurance Laws In a post on X, the CEO of Gerber Kawasaki said Walter “possibly” built his empire using capital from the insurance companies he controls, and added that it would violate insurance laws since policyholder funds are meant to remain diversified and safe. “By using this capital on his own ventures, he was clearly violating insurance laws…,” Gerber added. Talk about a turn of events. So Walter possibly built his empire by using a majority of capital from the insurance companies he controls. This violates insurance laws as the float is owed back to policy holders in the future. It must be diversified and safe. By using this…