New indictment accuses NC billionaire Greg Lindberg of misappropriating millions

Beleaguered N.C. billionaire Greg Lindberg, already facing retrial on accusations that he tried to bribe a state official, was indicted Friday on a rash of new criminal charges that further threaten his freedom.

The 48-page indictment handed down by a federal grand jury in Charlotte accuses the Durham business magnate and two co-conspirators of illegally siphoning vast amounts of money from Lindberg's insurance companies for his personal use, then lying to regulators to hide their $2 billion scheme.

Since 2019, multiple insurance companies controlled by Lindberg have been placed into rehabilitation or liquidation, prosecutors say, while thousands of policyholders have been defrauded.

Lindberg, 53, is specifically charged with one count each of conspiracy to defraud the United States, money laundering conspiracy, and wire fraud; four counts of making false insurance business statements to regulators; and six counts of making false entries about the financial conditions or solvency of an insurance business.

The case was investigated by the Charlotte office of the FBI.

The money laundering and wire fraud charges alone carry maximum punishments of 20 years in prison; the conspiracy to defraud the government count, 10 years.

"The indictment reveals a carefully orchestrated scheme that relied on a web of complex financial investments and transactions designed to evade regulators, disguise the financial health of Lindberg's insurance companies, and conceal the alleged purpose of the scheme: Lindberg's personal gain," said U.S. Attorney Dena J. King of Charlotte said in a statement following the release of the indictment.