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'{{Infobox person | name = Greg Lindberg | image = Greg Linberg.jpg | alt = | caption = Lindberg in 2018 | birth_name = | birth_date = 1970 | birth_place = [[San Mateo, California]], [[United States]] | death_date = | death_place = | occupation = | criminal_charge = | known for = Founder of [[Global Growth]] | alma_mater = [[Yale University]] | website = [https://www.greglindberg.com/ Greg E. Lindberg] }} '''Greg Evan Lindberg''' (born 1970) is an American business executive and founder of [[Global Growth]], a [[Conglomerate (company)|conglomerate]] specializing in information and financial services. He also donated large sums of money to political causes. In 2020 he was convicted of bribery and conspiracy to commit wire fraud. == Early life and education == Greg Lindberg was born in [[San Mateo, California]], United States in 1970, the youngest of five children. His father was an airline pilot. He attended [[Crystal Springs Uplands School]] in [[Hillsborough, California]] before studying at [[Yale University]], where he graduated with an economics degree in 1993.<ref name= lindberg>{{cite web| url = https://www.greglindberg.com/about/| title = Greg E. Lindberg: About| website = greglindberg.com| access-date = March 29, 2020}}</ref> == Career == In 1991, while still attending Yale University, Lindberg launched ''Home Care Week'', a health insurance compliance and reimbursement newsletter for home health agencies.<ref name= lindberg/> He later transformed this venture into a [[Conglomerate (company)|conglomerate]], [[Global Growth|Eli Global]], based in [[Durham, North Carolina]].<ref name=WSJ1>{{cite news| last = Maremont| first = Mark| last2 = Scism| first2 = Leslie| title = Insurance Tycoon Diverts $2 Billion| newspaper = The Wall Street Journal| page = A1| date = March 1, 2019}}</ref> The conglomerate operated as an information and financial services company.<ref>{{cite web| url = https://www.bloomberg.com/profile/company/1313558D:US| title = Eli Global LLC| website = Bloomberg| access-date = March 29, 2020}}</ref> In 2012 Lindberg began investigating the possibility of acquiring insurance companies, displaying a particular interest in the large number of assets retained by such companies to fulfill payouts. In 2014 Eli Global made its first insurance acquisition when it purchased a burial-policy insurer based in Alabama. Lindberg wished to loan the insurer's assets to other businesses he owned, but the number of the company's assets he could invest in affiliated enterprises was restricted by Alabama state laws. Lindberg then relocated the insurer to North Carolina, where regulations on such practices were vaguer, and began trading the burial-policy insurer's investments in [[United States Treasury security|treasury bonds]] for large loans in his own companies. Though North Carolina regulators usually enforced a cap of affiliated investments on insurers at 10% of their assets, the North Carolina Department of Insurance led by [[North Carolina Commissioner of Insurance]] [[Wayne Goodwin]] reached a special agreement with Lindberg, allowing his burial-policy insurer to invest as much as 40% of its assets in affiliates, though this limit was also eventually breached. In 2015 and 2016 Lindberg acquired more insurers and grouped them together as the Global Bankers Insurance Group.<ref name=WSJ1/> As a result of the insurer acquisitions, Eli Global became markedly more profitable.<ref name= Eanes1/> Lindberg ultimately loaned about $2 billion from the insurance companies he had acquired to his affiliated corporations or himself, using much of it to expand his private holdings.<ref>{{cite news|url=https://www.wsj.com/articles/financier-who-amassed-insurance-firms-diverted-2-billion-into-his-private-empire-11551367856|title=Financier Who Amassed Insurance Firms Diverted $2 Billion Into His Private Empire| last = Maremont| first = Mark| last2 = Scism| first2 = Leslie|date=January 3, 2019|newspaper=The Wall Street Journal|access-date=November 12, 2019}}</ref> By 2019 he had acquired over 100 companies.<ref name=WSJ1/> On June 27 the North Carolina Department of Insurance placed several of Lindberg's insurance companies into "[[Receivership|rehabilitation]]", citing concerns about their liquidity and ability to meet their obligations to policy holders.<ref>{{cite news| last = Maremont| first = Mark| last2 = Scism| first2 = Leslie| title = North Carolina Regulators Seize Control of Life Insurers Owned by Greg Lindberg| newspaper = The Wall Street Journal| url= https://www.wsj.com/articles/north-carolina-regulators-seize-control-of-life-insurers-owned-by-greg-lindberg-11561661303| date = June 27, 2019|access-date=March 29, 2020}}</ref> Eli Global was re-branded as Global Growth in September 2019 and Lindberg resigned as its [[chief executive officer]].<ref>{{cite news| last = Ohnesorge | first = Lauren| title = A new name, a new chairman for Lindberg-founded Eli Global| newspaper = Triangle Business Journal| date = September 18, 2019| url = https://www.bizjournals.com/triangle/news/2019/09/18/a-new-name-a-new-chairman-for-lindberg-founded-eli.html| access-date = March 16, 2020}}</ref> == Political donations == Lindberg is registered as an [[independent voter]].<ref name= AP>{{cite web| url = https://apnews.com/804e5a35b719d020689308b24c000432| title = Political corruption trial of big N Carolina donor to start| last = Robinson| first = Gary D.| date = February 15, 2020| publisher = [[Associated Press]]| access-date = March 16, 2020}}</ref> In February 2016 Lindberg made his first financial contribution to a political cause in North Carolina, donating to North Carolina Commissioner of Insurance Wayne Goodwin's reelection campaign.<ref name= Fain3/> That month he also hosted a fundraiser for Goodwin.<ref name=WSJ1/> Lindberg then began funding N.C. Opportunity Committee, a [[political action committee]] which produced pro-Goodwin advertisements.<ref name= Fain3>{{cite web| url = https://www.wral.com/he-s-given-more-than-5m-to-nc-political-campaigns-but-no-one-s-saying-what-he-wants/17703451/| title = He's given more than $5M to NC political campaigns, but no one's saying what he wants| last = Fain| first = Travis| date = July 17, 2018| website = WRAL| publisher = Capitol Broadcasting Company| access-date = March 16, 2020}}</ref> A spokesman for Lindberg asserted that Linberg appreciated that Goodwin was a "business-minded insurance commissioner" and that his donations were unrelated to the insurance department's handling of Lindberg's businesses during Goodwin's tenure.<ref name=WSJ1/> Between 2016 and 2018 he donated over $7.5 million to [[independent expenditure]] political action committees, state political committees, and federal political committees. Most of his contributions were given to members of the [[Republican Party (United States)|Republican Party]], though he also gave a significant amount of money to members of the [[Democratic Party (United States)|Democratic Party]].<ref name= Eanes1/> In May 2018 N.C. Opportunity Committee dissolved and about a month later Lindberg created N.C. Growth and Prosperity, a new North Carolina-based political action committee.<ref name=Fain2/><ref name= Fain3/> In November 2017 Lindberg began donating money to political candidates' campaign funds in Florida, the same month one of his companies was declared "financially impaired" and thus restricted from doing business by state regulators.<ref>{{cite web| url = https://www.politico.com/states/florida/story/2019/01/25/us-subpoenas-state-in-probe-of-businessman-gop-donor-814762| title = U.S. subpoenas state in probe of businessman, GOP donor| last = Dixon| first = Matt| date = January 25, 2019| website = Politico| access-date = March 29, 2020}}</ref> He became one of the largest individual donors to Florida Republicans during the 2018 elections, which included a transfer of $350,000 to political action committees supporting [[Rick Scott]]'s candidacy for the U.S. Senate and other contributions to local legislative leaders and [[Chief Financial Officer of Florida]] [[Jimmy Patronis]], whose office oversaw the Florida Office of Insurance Regulation.<ref>{{cite web| url = https://www.politico.com/states/florida/story/2018/10/09/amid-amped-up-scrutiny-north-carolina-investor-targeted-by-feds-became-top-florida-gop-donor-639295| title = Amid amped up scrutiny, North Carolina investor targeted by feds became top Florida GOP donor| last = Dixon| first = Matt| date = October 9, 2018| website = Politico| access-date = March 16, 2020}}</ref> He also donated at least $25,000 to [[Louisiana Insurance Commissioner|Louisiana Commissioner of Insurance]] [[Jim Donelon]]'s reelection campaign either personally or through his companies.<ref>{{cite news| last = White| first = Lamar, Jr.| title = Top Donelon Donor Found Guilty of Attempting to Bribe NC Insurance Commissioner| newspaper = Bayou Brief| date = March 5, 2020| url = https://www.bayoubrief.com/2020/03/05/top-donelon-donor-found-guilty-of-attempting-to-bribe-nc-insurance-commissioner/| access-date = March 20, 2020}}</ref> == Criminal indictment, Conviction, and Ongoing Appeal == In late 2017, Lindberg became frustrated with the lending limits placed on the assets of his insurance firm, Global Bankers Insurance Group, by North Carolina Deputy Commissioner of Insurance Jackie Obusek. After several heated exchanges with Obusek, Lindberg and two business associates, John Gray and John Palermo Jr., began meeting with North Carolina Commissioner of Insurance [[Mike Causey]], a Republican, to discuss Obusek's position in regulating the insurance firm.<ref name= AP/> Lindberg suggested that Palermo be hired to regulate his companies.<ref name= Fain1>{{cite web| url = https://www.wral.com/political-donor-seeks-dismissal-on-bribery-charge/18644517/| title = Political donor seeks dismissal on bribery charge| last = Fain| first = Travis| date = September 19, 2019| website = WRAL| publisher = Capitol Broadcasting Company | access-date = March 16, 2020}}</ref> By January 2018 Causey had informed law enforcement officials of the meetings<ref name= AP/> and he began assisting the [[Federal Bureau of Investigation]] as the agency investigated Lindberg's entreaties. Over the course of the discussions, Lindberg ultimately donated about $250,000 to the [[North Carolina Republican Party]].<ref name= Fain1/> On March 18, 2019, Lindberg, Gray, and Palermo, along with the chair of the North Carolina Republican Party, [[Robin Hayes]], were indicted by a federal grand jury<ref name=Fain2>{{cite web| url = https://www.wral.com/update-feds-seized-nearly-1-5-million-from-mega-donor-s-pac/18534175/| title = Update: Feds seized nearly $1.5 million from mega-donor's PAC| last = Fain| first = Travis| date = July 26, 2019| website = WRAL| publisher = Capitol Broadcasting Company| access-date = March 16, 2020}}</ref> for financial crimes including wire fraud and bribery. According to the indictment, Lindberg and his associates—coordinating with Hayes—promised to donate millions of dollars to the North Carolina Republican Party in exchange for favorable treatment of Global Bankers Insurance Group by Causey and the dismissal of the deputy insurance commissioner<ref name= NPR1>{{cite web |url=https://www.npr.org/2019/04/02/709124202/north-carolina-gop-chair-indicted-on-wire-fraud-bribery-charges |title=North Carolina GOP Chair Indicted On Wire Fraud, Bribery Charges| last=Pellicer| first=Laura |last2=Dewitt |first2=Dave |date=April 2, 2019 |publisher=[[National Public Radio]] |access-date=April 2, 2019}}</ref><ref>{{cite web |url=https://www.wral.com/nc-gop-chairman-major-political-donor-indicted-in-alleged-bribery-scheme/18300166/ |title=NC GOP chairman, major political donor indicted in alleged bribery scheme |last=Fain |first=Travis |date=April 2, 2019 |website=WRAL |publisher=Capitol Broadcasting Company |access-date=April 5, 2019}}</ref> responsible for regulating Lindberg's businesses.<ref name= INN1>{{cite web| url = https://insurancenewsnet.com/innarticle/feds-seek-1-5m-in-forfeiture-from-fallen-insurer-greg-lindberg#.Xm0gjmhKiM8| title = Feds Seek $1.5M In Forfeiture From Fallen Insurer Greg Lindberg| last = Hilton| first = John| date = March 13, 2020| website = InsuranceNewsNet| access-date = March 14, 2020}}</ref><ref name= AP/> In April the [[U.S. Department of Justice]] seized over $1.4 million from N.C. Growth and Prosperity bank accounts.<ref name=Fain2/> Lindberg maintained his innocence<ref name= NPR1/> and filed a motion requesting that the charges against him be dismissed, asserting that the contributions he made and requests to Causey did not constitute bribery.<ref name= Fain1/> It was rejected by a federal judge.<ref>{{Cite web|url=https://www.wral.com/judge-denies-dismissals-in-north-carolina-corruption-case/18922421/|title=Judge denies dismissals in North Carolina corruption case|last=|first=|date=January 31, 2020|website=WRAL|publisher=Capitol Broadcasting Company|access-date=February 7, 2020}}</ref> Lindberg's trial began on February 18 in [[Charlotte, North Carolina]],<ref>{{cite news |last1=Campbell |first1=Colin |last2=Gordon |first2=Michael |last3=Battaglia |first3=Danielle |title=Bribery trial of megadonor Greg Lindberg opens with new details, all-star witness list |url=https://www.newsobserver.com/news/politics-government/article240395181.html |accessdate=February 21, 2020 |newspaper=[[The News & Observer]] |date= February 18, 2020}}</ref> presided over by United States District Judge [[Max O. Cogburn Jr.]].<ref name= AP/> During the proceedings the prosecutors played recordings of conversations made between Lindberg and Causey. During the conversations Lindberg and his associates repeatedly urged Causey to reassign the deputy insurance commissioner who they felt was damaging his companies' reputation. They promised that in return they would give Causey millions of dollars to fund his reelection campaign, funneling the money through an independent expenditure committee and later the North Carolina Republican Party. Lindberg's attorneys accused Causey of trying to [[Entrapment|entrap]] Lindberg, possibly as retaliation for the businessman's backing of Goodwin as Commissioner of Insurance in the previous election.<ref name= INN1/> On March 5 Lindberg was found guilty of conspiracy to commit [[Honest services fraud|honest services wire fraud]] and bribery by the jury.<ref>{{cite news| last = Drew| first = Jonathan| title = North Carolina Insurance Magnate Convicted of Bribery, Conspiracy| newspaper = Insurance Journal| date = March 9, 2020| url = https://www.insurancejournal.com/news/southeast/2020/03/09/560648.htm| access-date = March 12, 2020}}</ref><ref>{{cite news| last = Alexander| first = Ames| last2 = Gordon| first2 = Michael| title = A shouting jury, then a verdict: Billionaire Greg Lindberg guilty of political bribery | newspaper = The Charlotte Observer| date = March 5, 2020| url = https://www.charlotteobserver.com/news/politics-government/article240808661.html| access-date = March 12, 2020}}</ref> Following the verdict, Lindberg filed a lawsuit against Causey, accusing him of abusing power and entrapment.<ref>{{cite news| last = Ohnesorge | first = Lauren| title = Convicted billionaire Lindberg sues NCDOI commissioner| newspaper = Charlotte Business Journal| date = March 18, 2020| url = https://www.bizjournals.com/triangle/news/2020/03/18/convicted-billionaire-lindberg-sues-nc-insurance.html| access-date = March 18, 2020}}</ref> [https://www.bizjournals.com/triangle/news/2020/03/18/convicted-billionaire-lindberg-sues-nc-insurance.html In the lawsuit, Lindberg and co-plaintiff Global Growth – formerly known as Eli Global – makes many of the arguments his attorneys made during his criminal trial – that Causey entrapped Lindberg. In the criminal case, Lindberg's attorneys argued that he'd been set up by Causey, who wore a wire while cooperating with the FBI. Similarly, the lawsuit accuses Causey of trying to punish Lindberg for supporting his predecessor over him in an election. “This lawsuit is about Causey’s abuse of power and breach of the public trust,” the lawsuit claims. “It arises out of Causey’s desire to retaliate against Plaintiffs for supporting former Commissioner Wayne Goodwin’s reelection campaign and to hobble Plaintiffs in advance of the 2020 elections.” "Commissioner Causey has not even seen this lawsuit and has no comment," a NCDOI spokesperson said Tuesday.]<ref>{{Cite web|url=https://www.bizjournals.com/triangle/news/2020/03/18/convicted-billionaire-lindberg-sues-nc-insurance.html|website=www.bizjournals.com|access-date=2020-03-30}}</ref> Cogburn was alerted to possible attempts by Lindberg's lawyers to contact members of the jury after their deliberation. Cogburn forwarded the information to a United States Attorney's office to investigate possible jury harassment charges.<ref>{{cite news| last = Ohnesorge | first = Lauren| title = Billionaire Lindberg, associates investigated for potential juror harassment| newspaper = Triangle Business Journal| date = March 18, 2020| url = https://www.bizjournals.com/triangle/news/2020/03/18/billionaire-lindberg-associates-investigated-for.html| access-date = March 18, 2020}}</ref><ref>{{cite web| url = https://insurancenewsnet.com/innarticle/judge-scolds-greg-lindberg-for-jury-contact-after-bribery-conviction#.XnLJiWhKiM8| title = Judge Scolds Greg Lindberg For Jury Contact After Bribery Conviction| last = Hilton| first = John| date = March 18, 2020| website = InsuranceNewsNet| access-date = March 18, 2020}}</ref> == Personal life == In 2013 Lindberg claimed to maintain a net worth of $340 million.<ref name=WSJ1/> Following his increased activity in the insurance industry in 2014, Lindberg began spending significantly more money on his private life than he had previously done. He purchased homes in Idaho and the [[Florida Keys]], as well as making the largest-ever purchase for a private home in [[Raleigh, North Carolina]].<ref name= WUNC1>{{cite web| url = https://www.wunc.org/post/businessman-greg-lindberg-ran-surveillance-operations-women-according-wall-street-journal| title = Businessman Greg Lindberg Ran Surveillance Operations On Women, According To Wall Street Journal| last = Pellicer| first = Laura| last2 = Stasio| first2 = Frank| date = October 15, 2019| publisher = [[WUNC (FM)|WUNC]]| access-date = March 16, 2020}}</ref> He also acquired a yacht and a private jet. In late 2017 a spokesperson stated that his net worth was $1.7 billion.<ref name=WSJ1/> Lindberg married a woman, Tisha, and had three children with her. They later became estranged,<ref name= Eanes1>{{cite news| last = Eanes| first = Zachery| title = Who is Greg Lindberg? The man at the center of the NCGOP bribery scandal| newspaper = The News & Observer| date = April 5, 2019| url = https://www.newsobserver.com/news/politics-government/article228776004.html| access-date = March 16, 2020}}</ref> separating in 2017.<ref name= WUNC1/> As of 2019, the two were seeking divorce.<ref name= Fain4>{{cite web| url = https://www.wral.com/lawsuits-against-nc-political-donor-show-pattern-of-delay-lack-of-cooperation/18745692/| title = Lawsuits against NC political donor show pattern of delay, lack of cooperation| last = Fain| first = Travis| date = November 11, 2019| website = WRAL| publisher = Capitol Broadcasting Company| access-date = March 16, 2020}}</ref> Following the couple's separation, Lindberg began dating other women. He hired dozens of private investigators to observe and track the women; some women were followed at all times. Lindberg maintained that this was only done to ensure that the women were not living unhealthy or destructive lifestyles—such as taking narcotics—and told the operatives he hired that the women had consented to surveillance. Reports from the private investigators obtained by ''The Wall Street Journal'' indicated that Lindberg was particularly interested in the interactions the women had with other men. Some of the operatives were also doubtful that the women had consented to surveillance.<ref>{{cite news| last = Maremont| first = Mark| last2 = Scism| first2 = Leslie| title = ‘Active Interest’: Insurance Tycoon Spied on Women Who Caught His Eye| newspaper = The Wall Street Journal| date = October 3, 2019| url = https://www.wsj.com/articles/active-interest-insurance-tycoon-spied-on-women-who-caught-his-eye-11570117310| access-date = March 16, 2020}}</ref><ref name= WUNC1/> ==References== <references /> {{DEFAULTSORT:Lindberg, Greg}} [[Category:1970 births]] [[Category:Living people]] [[Category:American company founders]] [[Category:20th-century American businesspeople]] [[Category:21st-century American businesspeople]] [[Category:Yale University alumni]] [[Category:American people convicted of bribery]]'