March 18, 2025
A Malta-based advisory firm controlled by convicted insurance mogul Greg Lindberg violated the Investment Advisers Act of 1940 by helping facilitate his misappropriation of $57 million in client funds, a North Carolina federal court ruled, noting Lindberg and another firm executive already admitted to fraud in separate consent judgments.
March 12, 2025
Convicted insurance mogul Greg Lindberg has netted a deal with the U.S. Securities and Exchange Commission to resolve claims he misappropriated $57 million in client funds, tying up the civil suit just four months after he copped to related criminal charges.
January 30, 2025
The U.S. Securities and Exchange Commission asked a North Carolina federal judge to give it a pretrial win on its fraud claims against convicted former insurance mogul Greg Lindberg and his investment adviser firm, arguing multiple convictions in parallel criminal cases against Lindberg and others are a "straightforward" indicator of his liability.
August 28, 2024
The U.S. Securities and Exchange Commission is seeking to force a convicted insurance mogul at the center of an alleged $57 million fraud to tell it what happened to the money he's accused of stealing from the insurance companies he ran, arguing in a North Carolina federal court that his answers thus far don't add up and that he shouldn't be allowed to rely on them at his upcoming trial.
May 24, 2024
A North Carolina federal judge permitted Foley & Lardner LLP on Friday to exit as counsel for a Malta-based registered investment adviser that is defending claims in a $75 million lawsuit brought by the U.S. Securities and Exchange Commission, despite the judge's previous concerns about the firm's withdrawal.
April 05, 2024
A request by Foley & Lardner LLP attorneys to stop representing a Malta-based registered investment adviser in a $75 million suit by the U.S. Securities and Exchange Commission is hanging in the balance after a North Carolina federal judge expressed concerns about their exit holding up the case.
June 13, 2023
The U.S. Securities and Exchange Commission has asked a North Carolina federal judge to approve a settlement with former insurance executive Christopher Herwig, who the SEC claims defrauded clients out of $75 million alongside disgraced mogul Gregory Lindberg.
January 06, 2023
A Malta-based registered investment adviser was unable to get a $75 million suit by the U.S. Securities and Exchange Commission tossed, with a North Carolina federal judge ruling on Friday that the regulator's complaint "provides substantial detail" about the fraud alleged against the investment adviser and two of its North Carolina-based executives.
November 01, 2022
Two North Carolina-based insurance executives have asked a federal judge to toss a U.S. Securities and Exchange Commission suit against them alleging they defrauded clients out of more than $75 million through undisclosed transactions, with one calling it a "shotgun" case.
August 30, 2022
The U.S. Securities and Exchange Commission filed suit Tuesday against two North Carolina-based insurance executives and their Malta-based registered investment adviser for allegedly defrauding clients out of more than $75 million through undisclosed transactions that only benefited themselves.