Greg Lindberg Pleads Guilty to $2 Billion Fraud

Greg E. Lindberg, a 54-year-old insurance magnate and former political donor in North Carolina, has pleaded guilty to conspiracy charges related to a $2 billion scheme to defraud insurance regulators and policyholders. He entered his plea in Charlotte, facing one count of conspiracy to commit offenses against the United States and one count of money laundering, with potential sentences of up to 15 years in prison combined. Lindberg's fraudulent activities, which occurred from 2016 to 2019, involved skimming funds from his companies and bribing state officials for favorable regulatory treatment. He had previously been convicted on bribery charges and awaits sentencing while seeking to be held in a halfway house. The investigation involved federal authorities, including the FBI and SEC, highlighting the significant risks Lindberg's actions posed to the insurance industry. Lindberg controlled companies that invested over $2 billion in loans and securities, while personally benefiting from over $125 million in loan forgiveness.