“The indictment indicates a massive fraud by Greg Lindberg and others, which ultimately harmed investors and policyholders. Sonn Law represents investors who were harmed by Lindberg’s alleged scheme.”
Attorney Jeff Sonn, Sonn Law Group
Greg E. Lindberg, a former insurance executive from North Carolina, has been indicted on charges related to a massive $2 billion fraud scheme, according to a press release from the US Department of Justice.
Lindberg and others allegedly deceived state insurance regulators and defrauded thousands of policyholders and others in connection with insurance companies he controlled from at least 2016 through 2019.
He allegedly deceived the North Carolina Department of Insurance and other regulators, evaded regulatory requirements meant to protect policyholders, concealed the true financial condition of his insurance companies, and improperly used insurance company funds for his personal benefit, including financing his lavish lifestyle.
Lindberg is charged with one count of conspiracy to commit crimes in connection with insurance business, wire fraud, and investment adviser fraud; one count of wire fraud; four counts of false insurance business statements presented to regulators; six counts of false entries about the financial condition or solvency of an insurance business; and one count of money laundering conspiracy. If convicted, he faces a maximum penalty of 20 years in prison on each of the top counts.
One of Lindberg’s top executives, Christopher Herwig, pleaded guilty in a related case in December 2022. Separately, Lindberg is also awaiting retrial in a case in which he faces several charges stemming from alleged attempts to bribe the Commissioner of the North Carolina Department of Insurance.
Were You Harmed by Greg Lindberg’s Alleged Fraud?
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