North Carolina Insurance Commissioner Criticizes Lindberg Restitution as Inadequate
North Carolina Insurance Commissioner Mike Causey has expressed dissatisfaction with the restitution amount recommended for Greg Lindberg, a convicted insurance mogul. A special master has suggested that Lindberg pay $973 million in restitution, but Causey argues this is insufficient to cover the financial damage caused by Lindberg's illegal activities. Lindberg's companies owe over $1 billion to guaranty associations that covered claims from his insolvent life insurance carriers. Causey, who played a key role in Lindberg's bribery conviction by recording an incriminating conversation, highlighted that only $157 million has been paid to policyholders from the sale of one of Lindberg's companies, leaving a significant shortfall. The restitution plan is pending review by U.S. District Judge Max Cogburn, who will also oversee Lindberg's sentencing, where he faces up to 15 years in prison. 
