Greg Lindberg ordered to give up control of firms.

M2 EQUITYBITES-May 19, 2022--Greg Lindberg ordered to give up control of firms


Global Banking News - 19 May 2022

A North Carolina court has ordered insurance tycoon, Greg Lindberg, to hand over control of the private firms he owns.

The control of hundreds of private companies is to be given to a special board. The firms could be sold to backup four financially troubled insurers that have been under regulatory supervision since 2019. The court alleged that Lindberg committed fraud in failing to abide by a 2019 agreement, under which North Carolina's insurance department seized control of the insurers from him.

The insurers had lent money to entities owned by Lindberg...

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