Greg Lindberg Pleads Guilty to $2 Billion Fraud

Greg Lindberg, founder of Eli Global LLC, has pleaded guilty to conspiracy and money laundering in a $2 billion fraud scheme that defrauded thousands of insurance policyholders. Between 2016 and 2019, he orchestrated a complex web of transactions through various companies in North Carolina and abroad, misleading regulators about his companies' financial health. Lindberg misused insurance funds for personal gains, including forgiving over $125 million in loans to himself, resulting in significant financial hardship for policyholders and the liquidation of several insurance companies. Following his guilty plea, he pledged to assist in the restitution process for those affected. Lindberg's legal troubles also include a previous conviction for bribery, and he faces potential lengthy prison time. The case underscores serious regulatory failures within the insurance sector that allowed such fraudulent activities to occur.