DURHAM, N.C., Aug. 30, 2022 /PRNewswire/ --
Statement from Susan Estrich, spokesperson for Greg Lindberg:
'Piling on' is what they call it when you have a weak case and what do you do? Pile on more charges – of something, from somewhere. In this case, the SEC added an even weaker case.
Only weeks ago, Greg Lindberg was released from prison because his fifth and sixth amendment rights were violated. He served 633 days in prison because of this wrongful conviction. But the government, instead of realizing its case had holes, or more likely because it does, came right back with the threat of more charges and more complaints.
So one day later, not so coincidentally, the SEC weighs in with its civil complaint after being shown millions of pages of documents to prove them wrong. They claimed no disclosure; we showed them actual disclosures. They claimed the companies weren't real; we showed them that they were. We showed them bank records to prove where the money went, and to prove that there was no private "piggybank" and that no policy holder ever lost a dime. We traced the money they couldn't trace.
When we showed them everything, they zeroed in on a handful of transactions representing less than 1.5% of that period's transaction volume across a global organization with $5.5 billion of assets under management. The SEC is bootstrapping one weak case to another, in the hope that their combined weight will count for more than they each do on their own. Mr. Lindberg intends to fight the false allegations that have been made against him, and to strengthen and support his insurance companies and the policy holders here in North Carolina.
SOURCE Susan Estrich