SEC asks judge to force Greg Lindberg to explain missing $57 million

September 3, 2024 by John Hilton

The Securities and Exchange Commission (SEC) is asking a North Carolina judge to force embattled financier Greg Lindberg to explain what happened to the $57 million he allegedly siphoned off the insurance companies he once owned.

The SEC is suing Lindberg in the U.S. District for the Middle District of North Carolina, claiming he teamed up with former insurance executive Christopher Herwig to defraud investors of $75 million.

A large chunk of that money came from the insurance companies Lindberg owned at the time: Southland National Insurance Corp., Colorado Bankers Life Insurance Co., Bankers Life Insurance Co. and Southland National Reinsurance Corp.

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Originally Posted at InsuranceNewsNet on August 30, 2024 by John Hilton.