Greg E. Lindberg introduced as we speak that he has retained Louis Freeh, former Federal Choose and FBI Director, and his agency Freeh, Sporkin & Sullivan to look at and render recommendation relating to monetary facets of Lindberg’s enterprise entities.
The overview will cowl, amongst different issues, assertions made by the North Carolina Insurance coverage Division, in addition to these made in latest press accounts, pending litigation, and regulatory issues referring to his insurance coverage corporations which can be presently in rehabilitation.
“Mr. Lindberg has asserted from the outset that the allegations about his insurance coverage corporations and him are false and is happy that Mr. Freeh and his crew to have agreed to tackle this project,” a spokesperson for Mr. Lindberg acknowledged.
The North Carolina Insurance coverage Division has taken over a gaggle of corporations owned by Lindberg, a rich political donor who’s dealing with federal expenses that he conspired to bribe the state insurance coverage commissioner.
A June courtroom order directed the division to take management of 4 life insurance coverage corporations, which Lindberg acquired in recent times 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 making an attempt 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 corporations — together with the removing of an insurance coverage division worker chargeable for regulating that agency.
The Lindberg crew launched the next assertion:
Mr. Lindberg is the only real shareholder of International Development. International Development’s principal holding firm has over $four billion of e book fairness and $77 million in internet revenue on a tax foundation as of 12-31-18. International Development corporations 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 as we speak:
Mr. Lindberg began a small medical insurance compliance and reimbursement publication enterprise with $5,000 in 1991 that turned the predecessor firm to International Development.
Mr. Lindberg has accomplished over 125 acquisitions throughout quite a few expertise and companies sectors, producing 35 % compound annual progress charge on fairness capital and a $1.7 billion pre-tax internet price as of 12-31-17.
Mr. Lindberg has funded ground-breaking medical analysis research associated to human longevity and the remedy of superior Parkinson’s illness.
Mr. Lindberg has made investments in Europe, the USA, 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 “really 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 reviews, and surviving fast and unexpected adjustments in insurance coverage regulation that compelled a few of his insurance coverage corporations 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.