New indictment accuses Greg Lindberg of misappropriating millions
SEC lawsuit
Lindberg’s legal problems have been growing for months. In August, the federal Securities and Exchange Commission sued Lindberg and Christopher Herwig, Lindberg’s former chief investment officer at his flagship investment firm, Eli Global, alleging multiple violations of financial regulations.
In a related financial fraud criminal case that quietly surfaced in the Charlotte federal courts just before Christmas, Herwig pleaded guilty to conspiracy to defraud the United States and is expected to testify against his former boss.
The allegations in the Herwig case track what’s included in the new indictment: that Herwig, joined by an unnamed but clearly identifiable Lindberg and another Eli Global employee, Devin Solow, used a series of complex and overlapping investment vehicles to illegally move hundreds of millions of dollars through Lindberg’s multi-national maze of business holdings.
Solow also has been charged with conspiracy to defraud the United States.
NC bribery scheme
Friday’s indictment surfaces while Lindberg awaits retrial on charges that he attempted to bribe State Insurance Commissioner Mike Causey in return for friendlier regulatory oversight from Causey’s staff.
Prosecutors say Lindberg and his conspirators funneled some of the money through the state Republican Party and its then-chairman, former U.S. Rep. Robin Hayes of Concord. Hayes pleaded guilty to avoid jail time and was later pardoned by then-President Donald Trump.
In 2020, a federal jury in Charlotte found Lindberg guilty of the public-corruption charge, and he was sentenced to 87 months in prison.
In June, the Fourth Circuit Court of Appeals threw out the conviction and ordered a new trial after finding that U.S. District Judge Max Cogburn gave improper instruction to Lindberg’s jurors before they began deliberating.
Lindberg was freed after serving two years in prison.
His new bribery trial was set to begin early next month in Charlotte. It has since been delayed and rescheduled for November.
This is a developing story. Check back for more.
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