North Carolina Regulators Seize Control of Life Insurers Owned by Greg Lindberg

July 9, 2019 by Leslie Scism and Mark Maremont

North Carolina’s insurance department on Thursday took control of a group of troubled life insurers owned by indicted entrepreneur Greg Lindberg.

Mr. Lindberg was arrested in April on federal criminal charges of conspiring to bribe the state’s insurance commissioner to obtain more favorable regulatory treatment. In February, The Wall Street Journal reported that Mr. Lindberg had lent at least $2 billion from his insurance companies to his other businesses.

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Originally Posted at The Wall Street Journal on June 27, 2019 by Leslie Scism and Mark Maremont.