Eli Global Founder Greg Lindberg Sentenced to Prison in Bribery Case

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Source: Wikipedia

Greg Lindberg, the Founder of private equity firm Eli Global and owner of Global Bankers Insurance Group (GBIG) was sentenced to prison for orchestrating a bribery scheme in North Carolina.

According to the U.S. Department of Justice (DOJ), U.S. District Judge Max Cogburn Jr. sentenced Lindberg to 87 months in prison and three years of supervised release. His bribery scheme involved independent expenditure accounts and improper campaign contributions.

Judge Cogburn sentenced Lindberg’s consultant, John Gray to 30 months in prison and two years of supervised release.

The judge also ordered Lindberg and to pay a forfeiture of approximately $1.45 million, which they held in accounts established for funneling bribe payments.

Lindberg’s bribery scheme

On March 5, 2020, a federal jury convicted Lindberg and his consultant John Gray of conspiracy to commit honest services wire fraud and bribery concerning programs receiving federal funds.

During an approximately three-week trial, prosecutors presented evidence that Lindberg and Gray attempted a bribery scheme involving independent expenditure accounts and improper campaign contributions. Their purpose was to encourage the North Carolina Department of Insurance (NCDOI) Commissioner to make decisions favorable to Lindberg’s insurance company, GBIG.