Insurance magnate pleads guilty as government describes $2B scheme

CHARLOTTE, N.C. (AP) — An insurance magnate who was once a big political donor in North Carolina has pleaded guilty related to what prosecutors call a $2 billion scheme to defraud insurance regulators, policyholders and others. Greg Lindberg of Florida entered the plea on Tuesday in Charlotte to one count of conspiracy to commit offenses against the United States and one count of conspiracy to commit money laundering. The government says Lindberg and other conspirators conducted transactions through companies from which he skimmed funds for personal benefit. No sentencing date has been set. Lindberg also is awaiting sentencing after being convicted in May of attempting to bribe North Carolina’s insurance commissioner to secure preferential regulatory treatment.