TWG Global on Wednesday issued a statement denying fraud allegations against the company and its subsidiaries, which are facing federal criminal and civil investigations over billions of dollars in financial transactions linked to Los Angeles Dodgers owner Mark Walter. TWG said that despite reports, there was "no fraud" and "no one was harmed." The company pledged to cooperate with the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) to resolve inquiries and has submitted a plan to address regulatory concerns. Previously, regulatory filings showed that TWG Global agreed to acquire up to $6.5 billion in affiliated assets from Delaware Life Insurance Co., while Clear Spring Life and Annuity Co. also cut $90 million in affiliated transactions. Both insurers reportedly previously admitted that more than $20 billion in loans had undisclosed affiliate status.