{"id":1123,"date":"2026-05-27T14:35:45","date_gmt":"2026-05-27T14:35:45","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=1123"},"modified":"2026-05-27T14:35:45","modified_gmt":"2026-05-27T14:35:45","slug":"yachts-jets-and-women-nc-billionaire-greg-lindberg-to-pay-for-billions-he-stole-2","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=1123","title":{"rendered":"Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole"},"content":{"rendered":"

Billionaire Greg Lindberg, now convicted of trying to bribe a state official<\/a> on top of masterminding what federal prosecutors call<\/a> \u201cone of the biggest insurance frauds in history,\u201d was sentenced Tuesday to 12 years in prison.<\/p>\n

Read more Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole<\/a><\/p>\n

Lindberg, 55, \u201csiphoned more than $2 billion\u201d from his insurance companies, assistant U.S. attorneys wrote in their sentencing memorandum. The federal prosecutors said he used about $30 million on private jets, $21 million \u201cin connection with various women,\u201d and $12 million on \u201cyacht expenses.\u201d And when North Carolina insurance regulators started poking around, he tried to bribe state Commissioner of Insurance Mike Causey.<\/p>\n

With four years in jail-time credit, Lindberg will be released in 2034 after he serves eight years. By that time, according to his personal notes, the Durham businessman hoped to have a $100 billion net worth and the ability to live to 120 years old. His notes, included in prosecutors\u2019 files, also mentioned \u201clongevity research\u201d and cloning.<\/p>\n

\u201cHopefully Mr. Lindberg is going to take that big brain and do some good,\u201d U.S. District Judge Max Cogburn Jr., said as he sentenced the billionaire.<\/p>\n

Lindberg owed about 2,000 policyholders at the time of his sentencing, as well as $1 billion to insurance companies in Puerto Rico and $4 million to the National Organization of Life & Health Insurance Guaranty Associations, assistant U.S. attorney Lyndie Freeman told Cogburn.<\/p>\n

By Tuesday, Lindberg had paid $1 billion in restitution, his attorneys said. That is the largest amount ever paid in the state and one of the largest in the country, his attorney James Wyatt, said in court.<\/p>\n

But about 30,000 victims died before seeing any of the money they lost, Freeman said. That\u2019s about how many people live<\/a> in Cornelius.<\/p>\n

\u201cUnlike the victims one often sees in large investment fraud schemes, most of Lindberg\u2019s victims were middle class folks who wanted a safe place to put their hard-earned retirement savings,\u201d prosecutors wrote. \u201cThey did not or could not afford to risk their savings on speculative stocks or trendy funds at the mercy of the markets. Rather, they chose annuities, which gave smaller but reliable interest rate returns, and believed their money was \u2018guaranteed\u2019 to be safe under the law.\u201d<\/p>\n

One victim couldn\u2019t pay for a funeral for her murdered son. A couple lost access to more than $600,000 in life savings as their daughter desperately needed cancer treatment.<\/p>\n

That\u2019s how much Lindberg spent on \u201creproductive services,\u201d assistant U.S. attorneys wrote when detailing the money he spent on women, which included:<\/p>\n

Lindberg was indicted in two federal cases related to his scheme. In the bribery case, he and his employee, John Gray, were in 2019 charged and later found guilty at trial on a count of conspiracy to commit honest services wire fraud and another count of bribery concerning programs receiving federal funds and aiding and abetting.<\/p>\n

In the insurance fraud case, Lindberg was indicted alone in 2023 on 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.<\/p>\n

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After a jury found him guilty in a retrial of the bribery case, Lindberg pleaded guilty to conspiracy to defraud the United States and money laundering.<\/p>\n

\u201cLindberg liked to claim he was the next Warren Buffett,\u201d prosecutors wrote, \u201cbut he was much closer to being the next Marty Frankel or Doug Cassity, two notorious insurance fraudsters.\u201d<\/p>\n

In the U.S. District Court for the Western District of North Carolina on Tuesday, Lindberg sat in a black and gray jail uniform while six attorneys and his employee, Gray, surrounded him in suits. Gray was also sentenced Tuesday to the time he\u2019d already served, which was about three years.<\/p>\n

The government\u2019s attorneys asked Cogburn to \u201chonor victims, including those who have already passed\u201d with his sentence and wrote off Lindberg\u2019s sizable restitution payments as a product of all the money he had access to from stealing.<\/p>\n

On the bribery case, Assistant U.S. Attorney Dana Owen Washington said \u201cthe public as a whole was a victim\u201d when Lindberg tried to bribe an official with $200 million to turn the other cheek.<\/p>\n

Lindberg told Cogburn: \u201cI am deeply regretful and apologize to the policyholders. They didn\u2019t sign up for this.\u201d<\/p>\n

He did not address the bribery in his statement to the judge.<\/p>\n

In a post on social media site X on Tuesday afternoon, soon-to-be Wake County District Attorney Wiley Nickel said he would launch an investigation into possible state criminal charges related to this case.<\/p>\n

\u201cThe federal convictions established serious efforts to corrupt public decision-making in North Carolina and influence state regulators for private gain,\u201d the former congressman wrote. \u201cNorth Carolina has its own laws, its own courts, and its own responsibility to hold people accountable when our laws are broken.\u201d<\/p>\n

Correction: An earlier version of this story incorrectly reported the length of Greg Lindberg\u2019s prison sentence.<\/i><\/p>\n

This story was originally published May 26, 2026 at 1:31 PM<\/span> with the headline “Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole.” <\/a><\/span><\/p>\n

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Greg Lindberg sentenced to 12 years for one of the biggest insurance frauds, using funds on jets, yachts and women and trying to bribe NC Insurance Commissioner Mike Causey.<\/p>\n","protected":false},"author":1,"featured_media":1121,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nYachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole - Durham Moving Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/durhammovinghub.com\/?p=1123\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole - 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