Greg Lindberg, an entrepreneur, began purchasing small insurance companies in 2014 and then used the insurers to make loans to himself. $2 billion in loans. He was convicted of two counts of conspiracy to bribe the North Carolina insurance commissioner. The insurance commissioner office is an elected position in North Carolina.
Testimony at the trial revealed that Mr. Lindberg, a billionaire (perhaps the loans facilitated that?), pledged to make $2 million in campaign contributions to the insurance commissioner in exchange for the termination of one of the regulator’s employees who was riding herd on Lindberg insurers (probably undercapitalization). Mr. Lindberg reported to prison on October 20, 2020 to begin a seven-year sentence.
He had sought bail so that he could remain free during his appeal. Because he has access to 18 bank accounts in foreign nations, the judge agreed with prosecutors that he was a flight risk. However, his sleep apnea and vulnerability to COVID-19 resulted in a judge granting a delay until the virus issues calmed down. Apparently, it is calm enough — three months after the delay Mr. Lindberg is in prison. Also, the CDC had concluded that there is no correlation between apnea and getting COVID-19. One last shot — Mr. Lindberg’s partner is pregnant with another child (Mr. Lindberg has four children) due December 4, 2020. The judge was not moved.
However, chin up — Mr. Lindberg does have a suit pending against the Wall Street Journal for alleged defamation in the paper’s reporting on the finances at Lindberg insurance company as well as allegations that Mr. Lindberg used surveillance on women who had applied for jobs at his company. Mr. Lindberg said that was all just part of the company’s background checks.
This is a made-for-TV movie.
You need to get s pot on TV. Your commentaries are priceless.
You are kind — and have made my day — probably the week and month as well. Thank you. As the saying goes, “You can’t make this stuff up.”