North Carolina Man Launders $2 Billion in Insurance Scam
Greg Lindberg has pleaded guilty conspiracy to commit money laundering while scamming insurance policyhoolders and regulators. He faces three decades in prison. Photo credit: @greglindbergofficial, YouTube.
Multiple Insurance Companies
Among other entities, Lindberg owned the Durham, N.C.-based company Global Bankers Insurance Group (GBIG) and was the founder and chairman of Eli Global LLC, also based in Durham, N.C. Both businesses were insurance companies based in North Carolina, and both have been dissolved since 2019, as verified by The Daily Muck.
Using these companies and others, between 2016 and 2019, Lindberg defrauded insurance regulators and the North Carolina Department of Insurance, according to a Feb. 24, 2023 DOJ press release about his indictment. Lindberg skirted regulation requirements and inflated the success of his insurance companies. Lindberg also improperly used company money to enrich himself, buy real estate, support a luxurious lifestyle and forgive over $125 million in loans borrowed by his companies.
As a part of this scheme, Lindberg falsely represented his companies and got them to invest more than $2 billion in loans, which he circulated among his many companies to conceal and launder the proceeds, according to the most recent DOJ press release. As a result, his companies, policyholders and third-party companies were negatively affected financially, including job losses and lapses in coverage.
Bribery and Conspiracy Convictions
This isn’t Lindberg’s only legal battle. Lindberg, along with his co-conspirators, John D. Gray, 73, Lindberg’s consultant from Chapel Hill, N.C., Robert Cannon Hayes, 78, a North Carolina state Republican chairman in Concord, N.C. were all named in an indictment charging them with bribing the Democratic Commissioner of the N.C. Department of Insurence (NCDOI), Wayne Goodwin. Goodwin is now the NC DMV Commissioner, according to his twitter/x account.
Lindberg and Gray, convicted on May 15 of conspiracy and bribery, offered and provided bribes to Goodwin, including re-election campaign contributions upwards of millions of dollars in exchange for favors for Lindberg’s GBIG business, according to the indictment.
Lindberg and Gray also held numerous meetings with Goodwin and Hayes at various locations to discuss the removal of the Senior Deputy Commissioner at NCDOI, who oversaw regulations and examined GBIG closely.
Sentencing
After the first conviction, Lingberg and Gray were both sentenced for the bribery scheme on Aug. 19,
2020, with Lindberg receiving 87 months in prison followed by three years of supervised release and Gray getting 30 months of prison time with two years of supervised release before the case was ordered to be retried. Hayes pleaded guilty to lying to the FBI on Oct. 2, 2019, and was sentenced to one year of probation.
Now that Lingberg and Gray have been convicted again, they await an undetermined sentencing date, according to the most recent DOJ press release. With Lingberg’s conviction and guilty plea, the Judge will consider both when determining sentencing. Both defendants face up to 30 years in prison for their crimes.
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