North Carolina Man Sentenced to 12 Years for Insurance Fraud

A federal judge in Charlotte sentenced Greg Lindberg to 12 years in prison this week for an insurance fraud scheme that prosecutors said drained more than $2 billion from companies holding retirement savings. Lindberg, 55, pleaded guilty to conspiracy and money laundering charges. He was also convicted separately of bribery involving North Carolina Insurance Commissioner Mike Causey.

Federal prosecutors said Lindberg spent about $30 million on private jets, $21 million connected to various women, and $12 million on yacht expenses. 6 million on housing for women. Prosecutors stated the funds came from insurers including Colorado Bankers Life Insurance, Bankers Life Insurance, and Southland National Insurance.

Victim Impact Assistant U.S.

Attorney Lyndie Freeman told the court that Lindberg owed roughly 2,000 policyholders and $1 billion to insurers in Puerto Rico. Prosecutors said about 30,000 victims died before recovering money tied to the scheme. One victim could not pay for her murdered son’s funeral, and another family lost access to more than $600,000 while their daughter underwent cancer treatment, according to court filings.

With four years of jail-time credit, Lindberg is scheduled for release in 2034 after serving eight years. Defense attorneys said he has already paid about $1 billion in restitution. Lindberg apologized in court to policyholders but did not address the bribery conviction.