Cadillac F1 owner Mark Walter facing major class-action lawsuit

Mark Walter, the billionaire behind TWG Global and one of the key figures controlling Cadillac’s F1 operation, has become embroiled in a major legal battle in the United States, with a federal class-action lawsuit now alleging that his insurance empire was used to bankroll an extraordinary sports investment machine. The lawsuit, filed this week in the U.S. District Court for the Southern District of Florida, accuses companies linked to Walter of diverting billions of dollars from insurance policyholders into his wider business network while allegedly concealing crucial financial information. At the centre of the complaint are Delaware Life Insurance and…