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International Business Times UK

Politics

Niloy Chakrabarti

Self-Proclaimed Billionaire Sentenced to 12 Years for Swindling $2B of Policyholder Funds on Jets, Real Estate, and Women

Insurance Brandon McCarthy

Lindberg's fraud affected hundreds of thousands, causing financial hardships and over $1 billion still owed to policyholders. (Credit: Greg Lindberg/YouTube.com)

Self-proclaimed billionaire Greg Lindberg was sentenced to 12 years in prison this week after being found guilty of diverting $2 billion of policyholders' money from insurance firms he controlled. He was even caught attempting to bribe a state regulator, which was recorded on hidden camera. The cases are finally settled after seven long years.

The prison sentence closes two federal criminal convictions for the Yale-educated insurance entrepreneur. After his first bribery conviction in 2020 was overturned on appeal, Lindberg was again convicted in 2024 and later pleaded guilty to money-laundering charges.

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