Greg Lindberg Sentenced to 12 Years for $2 Billion Insurance Fraud

Greg Lindberg, a San Mateo native and insurance mogul, was sentenced to 12 years in prison for a $2 billion fraud that drained insurance policy reserves. - Lindberg pleaded guilty in 2024 to conspiracy and was convicted of bribing a state insurance commissioner.

- He used the stolen funds to buy jets, mansions, a yacht, and spent over $21 million on women and dating services. - Thousands of policyholders are still owed more than $1 billion, with restitution hearings pending.

- Lindberg has sought a pardon from President Trump, but North Carolina's insurance commissioner urged against it. The case highlights one of the largest insurance frauds in U.S.

history, with the judge ordering separate hearings on restitution.