Greg Lindberg’s $2 billion fraud scheme left policyholders reeling as the once-powerful tycoon faces up to 15 years in prison. 🌐 #News #TampaFL #Florida #Crime
TAMPA, FL – Greg Lindberg, a Florida insurance mogul, has pleaded guilty to charges stemming from a $2 billion fraud scheme that manipulated regulators and policyholders, according to the U.S. Department of Justice. Lindberg’s guilty plea follows a separate conviction earlier this year for attempting to bribe North Carolina’s insurance commissioner to gain preferential treatment for his businesses.
The Scheme That Shook the Insurance Industry
Between 2016 and 2019, Lindberg and his co-conspirators orchestrated a complex fraud scheme involving over $2 billion. Court documents reveal that companies controlled by Lindberg made substantial investments in loans and securities tied to his affiliated businesses.
Through a “web of entities” spanning North Carolina, Bermuda, Malta, and other locations, the group executed circular transactions to mislead regulators and ratings agencies about the financial stability of their enterprises…