Greg E. Lindberg: Insurance mogul pleads guilty to fraud [Video]

CHARLOTTE, N.C. –

An insurance magnate who was once a big political donor in North Carolina is in federal custody after pleading guilty in connection to what prosecutors call a US$2 billion scheme to defraud insurance regulators, policyholders and others through a myriad of companies from which he skimmed funds for personal benefit.

Greg E. Lindberg, 54, of Tampa, Fla., entered the plea on Tuesday in Charlotte before U.S. Magistrate Judge David Keesler to one count of conspiracy to commit offences against the United States and one count of conspiracy to commit money laundering, according to legal documents.

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Lindberg, who had been indicted on 13 counts in February 2023, could face a maximum of 10 years in prison on the money laundering conspiracy count and five years on the other conspiracy count, a U.S. Department of Justice news …