Founder of Multinational Investment Firm Convicted in Bribery Scheme Involving Improper Campaign Contributions

Founder of Multinational Investment Firm Convicted in Bribery Scheme Involving Improper Campaign Contributions

A federal jury in Charlotte, North Carolina, has delivered a guilty verdict for the founder and chairman of a multinational investment company and a company consultant.

The conviction comes after a retrial for orchestrating a bribery scheme involving independent expenditure accounts and improper campaign contributions.

Details of the Scheme:

According to court documents and trial evidence, Greg E. Lindberg, founder and chairman of Eli Global LLC, and John D. Gray, a consultant, engaged in a bribery scheme from April 2017 to August 2018.

The scheme targeted the Commissioner of Insurance of the North Carolina Department of Insurance (NCDOI) with the aim of influencing official actions favorable to Lindberg’s company, Global Bankers Insurance Group (GBIG).

Lindberg and Gray offered millions of dollars in campaign contributions and other incentives to induce the removal of NCDOI’s Senior Deputy Commissioner, who oversaw the regulation and examination of GBIG.

Meetings and Communications:

Lindberg, Gray, and the Commissioner held numerous meetings and communications to discuss Lindberg’s request for personnel changes in exchange for financial benefits.

They also devised a plan to funnel campaign contributions to the Commissioner anonymously. To conceal the scheme, Lindberg established corporate entities to form independent expenditure committees supporting the Commissioner’s re-election campaign. Lindberg funded these entities with $1.5 million, as promised to the Commissioner.

Convictions and Potential Penalties:

The jury convicted Lindberg and Gray of conspiracy to commit honest services wire fraud and bribery concerning programs receiving federal funds.

They face a maximum penalty of 30 years in prison, with a sentencing date yet to be determined by a federal district court judge. The sentencing will consider U.S. Sentencing Guidelines and other statutory factors.

Related Plea Agreement:

Robert Cannon Hayes, another individual involved, pleaded guilty in October 2019 to making false statements to the FBI.

Official Statements and Investigation:

Principal Deputy Assistant Attorney General Nicole M. Argentieri and U.S. Attorney Dena J. King announced the verdict.

The FBI Charlotte Field Office conducted the investigation. Trial Attorney William Gullotta of the Criminal Division’s Public Integrity Section and Assistant U.S. Attorneys Lawrence Cameron and Dana Washington prosecuted the case.

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