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Convicted Insurance Mogul Ordered to Give Up Control of Companies

A North Carolina court has ordered convicted insurance mogul Greg Lindberg to turn over control of hundreds of his private companies to a special board in an effort to salvage four financially troubled insurers that have been under regulatory supervision since 2019.

The court order concluded that Mr. Lindberg committed fraud in failing to abide by a 2019 agreement under which North Carolina’s insurance department seized control of the insurers from Mr. Lindberg.