The Wall Street Journal recently reported that North Carolina insurance entrepreneur, Greg Lindberg, was indicted on charges alleging that he had directed a criminal scheme to defraud policyholders of hundreds of millions of dollars which in part financed his lavish lifestyle. These new charges from the Western District of North Carolina are the latest charges in a legal battle that has lasted several years. Lindberg was sent to prison in 2020 on charges of bribing a public official and a federal court of appeals overturned the conviction in June. A new trial has been ordered, however the new charges are separate from that upcoming trial.
In 2019 investigative articles in The Wall Street Journal revealed that insurers controlled by Greg Lindberg lent more than $2 billion to affiliated entities owned by Lindberg. The latest indictment alleges that Lindberg’s scheme involved moving $2 billion from the insurers to various Lindberg controlled companies. The Wall Street Journal states that Greg Lindberg also used insurance funds in part to pay at least $689,000 to companies used to surveil women with whom he had or sought to have a personal relationship or provide other services, the indictment alleges.
According to WRAL in Charlotte, Greg Lindberg remains free after he was indicted on charges he conspired to conduct a massive scheme to deceive insurance regulators and policyholders related to insurance companies that he controlled. Lindberg was ordered released on $100,000 unsecured bond following his appearance before the US Magistrate in Charlotte. Lindberg was indicted on 13 counts, including wire fraud, money laundering conspiracy and false entries about insurance business finances. Greg Lindberg pleaded not guilty and denies charges in both cases.
In late 2018, Northstar Financial Services, was acquired by North Carolina-based conglomerate called Global Bankers. This company was owned by Greg Lindberg. Soreide Law Group has recovered millions of dollars for Northstar Financial victims from multiple firms and has previously filed several FINRA arbitrations on behalf of Northstar Bermuda victims.
If you sustained substantial losses through Greg Lindberg’s alleged schemes, particularly in Northstar Financial Services (Bermuda) Ltd., through you brokerage firm, contact Soreide Law Group and speak at no cost to an experienced securities lawyer at: 888-760-6552.
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