Insurance Tycoon Greg Lindberg Admits to $2 Billion Fraud Scheme

Lindberg's guilty plea involves defrauding insurance regulators and policyholders through a network of international companies.

Greg Lindberg, 54, pleaded guilty to conspiracy charges related to a $2 billion fraud and money laundering scheme.
The scheme involved deceiving regulators and policyholders from 2016 to 2019 using companies based in North Carolina, Bermuda, Malta, and other locations.
Lindberg's actions included 'forgiving' over $125 million in loans to himself from the insurance companies he controlled.
The fraudulent activities caused significant financial hardship to thousands of policyholders and led some of Lindberg's insurance companies to face liquidation.
Lindberg, previously convicted of bribery in a separate case, faces a maximum of 15 years in prison for the current charges.