I sent a letter to President Trump regarding Greg Lindberg

Simply earlier than Christmas, I despatched an vital letter to President Trump, advising him to not pardon Greg Lindberg.

Billionaire Mr. Lindberg owned numerous North Carolina-based insurance coverage corporations, together with Colorado Bankers Life Insurance coverage Co., Bankers Life Insurance coverage Co., Southland Nationwide Insurance coverage Corp. and Southland Nationwide Reinsurance Corp. Mr. Lindberg harmed policyholders by diverting cash from his insurance coverage corporations to different corporations he owned, and used a lot of that cash to finance his lavish life-style, buying jets, yachts and mansions.

When my skilled employees on the Division of Insurance coverage raised considerations concerning the monetary stability of his insurance coverage corporations and tried to take corrective motion, Mr. Lindberg tried to get me to fireside the specialists attempting to maintain his insurance coverage corporations solvent. He tried to bribe me with a view to get a senior official eliminated. I labored with the FBI and was sporting a wire when he made the provide.

As I mentioned in my letter to the President, Mr. Lindberg’s legal conduct was not incidental, technical or victimless. It was deliberate, sustained and instantly aimed toward corrupting a state regulatory system charged with defending the general public so he might enrich himself.

These will not be victimless crimes. The diversion of moneys from Mr. Lindberg’s insurance coverage corporations to his affiliate corporations — and in the end to his personal pockets — irreparably harmed the insurance coverage corporations to the purpose the place the businesses needed to be liquidated.

Thankfully for policyholders, state warranty associations exist to assist policyholders rise up to $300,000 of the cash as a consequence of them when insurance coverage corporations go stomach up. Sadly for the policyholders, Mr. Lindberg fought liquidation within the courts and his appeals to greater courts resulted in delayed advantages for the policyholders.

Many of those policyholders had invested in Mr. Lindberg’s insurance coverage corporations as a method of offering annuities and different advantages in order that they might retire comfortably.

These unlawful actions put the victims’ monetary safety in danger, they usually proceed to undergo repercussions at present. These harms are actual, ongoing and irreparable.

Mr. Lindberg has a well-financed and aggressive public relations marketing campaign as he seeks a pardon from President Trump. Media stories say he is employed well-placed lobbyists with ties to the President in an try and acquire a pardon.

Sworn testimony, recorded proof, the findings of a federal jury and Mr. Lindberg’s personal request for forgiveness make it clear that he acquired due course of and each authorized safety afforded beneath our Structure. Clemency is most compelling when it corrects a miscarriage of justice or exhibits mercy the place the regulation has operated too harshly. Neither situation applies right here.

North Carolina’s two U.S. Senators, Thom Tillis and Tedd Budd, have weighed in in opposition to a pardon. I thank them for his or her considerate response.

My hope is that President Trump will deny any request for a pardon or commutation of sentence for Mr. Lindberg. To do in any other case would undermine public confidence within the rule of regulation and ship a troubling message to these entrusted with regulatory authority, and to these tempted to deprave it.

The submit I sent a letter to President Trump regarding Greg Lindberg appeared first on Insurance News | InsuranceNewsNet.

Source link