Mike Causey Refuses To Take Action On $1 Billion Rehab Exit Plan For North Carolina Insurers, Lindberg Says
DURHAM, N.C., Sept. 1, 2022 /PRNewswire/ -- A spokesperson for Greg Lindberg provided the following update regarding Monday's filing of civil litigation against Lindberg by the Securities and Exchange Commission.
After the United States Court of Appeals for the Fourth Circuit ruled that he was wrongfully convicted, Lindberg was recently released from federal prison after serving 633 days. He says he has "seen this movie before" with his fellow inmates. "The SEC makes all kinds of false allegations to try to get you to settle. They use high pressure tactics to try to roll over defendants and get them to admit things they never did. It's bullying pure and simple," Lindberg says.
According to Lindberg, his legal team supplied the SEC with millions of pages and documents explaining every transaction that the SEC had questions about. "The SEC claimed that the transactions were not disclosed yet they were supplied with emails showing the transactions were disclosed to virtually everyone on the management team of the North Carolina insurers, including the Chairman of the Board of the management company," Lindberg says.
Lindberg says that despite being clearly shown how the transactions resulted in more capital and surplus paid into the North Carolina insurers – expressly for the benefit of policyholders—the SEC claimed the transactions harmed policyholders.
Even after...
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