Source: SFGate
“A billionaire and insurance mogul with Bay Area ties was sentenced to 12 years in federal prison after he orchestrated an elaborate scheme that defrauded multiple insurance companies out of $2 billion that he used to buy mansions and private jets, the U.S. Department of Justice said. San Mateo native Greg Lindberg, 56, was sentenced on Tuesday in the United States District Court for the Western District of North Carolina on charges related to a multibillion-dollar fraud conspiracy that bankrupted several insurance companies and policyholders, the DOJ announced in a news release. Lindberg, now a Florida resident, was the founder and chairman of North Carolina-based international private equity and financial services firm Eli Global LLC, and Global Bankers Insurance Group, which managed international life insurance and reinsurance companies. Bloomberg Businessweek reported in December 2024 that Lindberg’s net worth had been more than $1 billion.” (05/28/26)
https://www.sfgate.com/bayarea/article/greg-lindberg-insurance-fraud-22279355.php