Delaware Life and Clear Spring Life, two insurance companies owned by Mark Walter, co-founder and CEO of Guggenheim Partners, admitted in June this year to misclassifying up to $21 billion in investments as "unaffiliated investments." These funds were actually invested in companies linked to Walter and his business empire. This action violated strict insurance regulatory limits on affiliated investments, as Delaware Life had previously claimed for years that its affiliated investments accounted for only 3%, a figure that surged to 42% after an internal review. Federal prosecutors in New York and the U.S. Securities and Exchange Commission (SEC) have launched investigations, with federal agents seizing mobile phones and laptops from Walter and his company's president last September. Affected by this, Walter has begun selling most of his stake in the Los Angeles Lakers and his shares in Premier League club Chelsea FC. Last week, Guggenheim reported a 38% year-on-year plunge in second-quarter revenue, and the price of its related loans plummeted to 72 cents on the dollar this Monday. The Guggenheim Strategic Opportunities Fund's stock price fell to its lowest point since the global financial crisis. On August 16, short-selling firm Hunterbrook Media published a report alleging that another giant insurer, Sammons Financial, also engaged in similar concealment of affiliated investments, causing its publicly traded bonds to fall sharply.