Federal prosecutors and the U.S. Securities and Exchange Commission (SEC) have launched an investigation into billionaire Mark Walter and companies within his financial empire, focusing on whether insurance companies he controls concealed certain financial relationships in the flow of over $20 billion. Walter, CEO of Guggenheim Partners and a major shareholder in the Los Angeles Lakers, indirectly controls CVAN Holdings LLC, which as of March 10 held approximately 8% of Carvana's Class B common stock. This investigation has raised concerns among investors about the future of his Carvana holdings, and Walter has agreed to sell the Lakers for $1.25 billion.