Greg E. Lindberg introduced immediately that he has retained Louis Freeh, former Federal Decide and FBI Director, and his agency Freeh, Sporkin & Sullivan to look at and render recommendation relating to monetary features of Lindberg’s enterprise entities.
The evaluation will cowl, amongst different issues, assertions made by the North Carolina Insurance coverage Division, in addition to these made in current press accounts, pending litigation, and regulatory issues regarding his insurance coverage firms which are presently in rehabilitation.
“Mr. Lindberg has asserted from the outset that the allegations about his insurance coverage firms and him are false and is happy that Mr. Freeh and his staff to have agreed to tackle this task,” a spokesperson for Mr. Lindberg acknowledged.
The North Carolina Insurance coverage Division has taken over a gaggle of firms owned by Lindberg, a rich political donor who’s going through federal expenses that he conspired to bribe the state insurance coverage commissioner.
A June court docket order directed the division to take management of 4 life insurance coverage firms, which Lindberg acquired lately after which operated as International Bankers Insurance coverage Group.
Lindberg, former N.C. Republican Get together Chairman Robin Hayes and two of Lindberg’s associates are accused of attempting to bribe state insurance coverage commissioner Mike Causey with $2 million in marketing campaign contributions.
The 4 allegedly tried to get Causey to take actions favorable to one in every of Lindberg’s firms — together with the elimination of an insurance coverage division worker chargeable for regulating that agency.
The Lindberg staff launched the next assertion:
Mr. Lindberg is the only shareholder of International Development. International Development’s fundamental holding firm has over $four billion of guide fairness and $77 million in internet revenue on a tax foundation as of 12-31-18. International Development firms are forecasting over $300 million in EBITDA for 2020. Mr. Lindberg has “been within the area” for over 28 years constructing the businesses that make up International Development immediately:
Mr. Lindberg began a small medical insurance compliance and reimbursement e-newsletter enterprise with $5,000 in 1991 that grew to become the predecessor firm to International Development.
Mr. Lindberg has accomplished over 125 acquisitions throughout quite a few know-how and companies sectors, producing 35 % compound annual progress price on fairness capital and a $1.7 billion pre-tax internet value as of 12-31-17.
Mr. Lindberg has funded ground-breaking scientific analysis research associated to human longevity and the therapy of superior Parkinson’s illness.
Mr. Lindberg has made investments in Europe, america, the UK, Central America, Hong Kong, Australia and the Center East.
Mr. Lindberg has adopted the recommendation of Teddy Roosevelt, and has been one who’s “truly within the area, whose face is marred by mud and sweat and blood.”
Mr. Lindberg has confronted quite a few adversities together with surviving a mind tumor, preventing false and unjust expenses stemming from a political opponent, preventing false and defamatory media experiences, and surviving fast and unexpected modifications in insurance coverage regulation that compelled a few of his insurance coverage firms into rehabilitation.
Mr. Lindberg has discovered a fair better benefit in each adversity he has confronted, one of many core parts of International Development’s tradition.
Mr. Lindberg graduated Phi Beta Kappa, magna cum laude from Yale College in 1993 with an honors diploma in economics.