Mark Walter’s TWG Global rejected what it called "multipronged attacks" against the holding company and its subsidiaries, saying that "despite what has been reported, there has been no fraud" at the companies. The statement came amid media reports about Walter’s business empire and federal criminal and civil investigations into the accounting of related-party financial transactions by two of his insurers. TWG Global said it and the Group 1001 insurance companies had presented a plan to address any regulatory concerns.