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Story summary
- Mark Walter sold the Los Angeles Lakers for $12.5 billion, after buying them for $10 billion 11 months earlier.
- Agents seized Walter’s cellphone and computer during a Department of Justice and Securities and Exchange Commission probe of alleged fraud.
- Magic Johnson faces a federal investigation for alleged involvement in EquiTrust’s backing of Walter’s Lakers purchase.
- Walter and minority owner Todd Boehly remain in talks to sell their shares in Chelsea Football Club.
