AAPC Watch

This page may be more aptly called “Eli Global Watch”.

Eli Global owns AAPC, which used to be known as “American Association of Professional Coders” until 2001 when AAPC was declared a “for profit” organization and implemented plans to branch out into other countries, such as India, Pakistan, Philippines, South Africa, Malaysia and more. The “American” was dropped from the name so that only the acronym remains.

Eli Global is owned by Greg Lindberg who is originally from England.

A partial list of companies owned or “managed” by Eli Global/Greg Lindberg include:

  • AAPC
  • TCI
  • Audio Educator
  • HEALTHiCity – an auditing company and an HCC company
  • ProfitMD – a Medical billing company
  • Stratford Pharmaceuticals
  • Franzen (Germany)
WSJ: Insurance Officials Pursue Control of Lindberg’s Firms

WSJ: Insurance Officials Pursue Control of Lindberg’s Firms

North Carolina insurance officials are seeking appointment of a temporary receiver to take control of hundreds of private companies owned by insurance executive Greg Lindberg, newly unsealed state court documents show.

Click the link below to access the ‘full article’…

https://www.wsj.com/articles/insurance-officials-pursue-control-of-some-of-greg-lindbergs-firms-11579133387?fbclid=IwAR1QB0Ln0HtHg-TzX2IgYowJN81cSylEQ5owWCGg74m1Mv18fVTn4wdzcAQ

Lindberg Firms Taken Over

Lindberg Firms Taken Over

North Carolina Regulator to Take Over Firms Owned by Embattled Insurance Investor

North Carolina’s insurance commissioner is taking over four insurance companies controlled by a businessman charged with trying to make political bribes.

A Raleigh-based state judge issued an order on June 27 allowing Insurance Commissioner Mike Causey to take over the companies that are controlled by Greg Lindberg and based in the state. Causey said in a legal filing that he had concerns about whether the companies had enough liquidity to meet obligations.


 

More trouble for Greg Lindberg, AAPC’s owner.

Please read the rest here.  NC Regulators to Take Over

Court Allows Take-Over of Lindberg’s Companies

Court Allows Take-Over of Lindberg’s Companies

Court lets regulator take over donor’s insurance companies

Posted July 1

 — North Carolina’s insurance commissioner is taking over four insurance companies controlled by a businessman charged with trying to make political bribes.

A Raleigh-based state judge issued an order on Thursday allowing Insurance Commissioner Mike Causey to take over the companies that are controlled by Greg Lindberg and based in the state. Causey said in a legal filing that he had concerns about whether the companies had enough liquidity to meet obligations.

Please see the rest of the story here.

Facts ‘omitted’ from the WSJ Story

Facts ‘omitted’ from the WSJ Story

Facts Omitted From The Wall Street Journal Story About Greg Lindberg And His Companies

Mr. Lindberg’s colleagues and representatives spent weeks answering detailed questions from the Wall Street Journal. Unfortunately, key facts were omitted from the story. Facts such as:

— There are numerous inaccuracies with respect to the use of the insurance funds to finance personal assets. For example, no insurance company money was used to purchase Mr. Lindberg’s investments in the Idaho and Key West properties, his boat, or the airplanes, one of which was leased. Mr. Lindberg has never spent a night inside the Idaho house, the Key West house, or the Morning Mountain House, which are investments currently held for sale. The boat has $3 million a year in historical charter revenue which covers the majority of its operating expenses, and no insurance company funds were ever used in its acquisition or operation. (Please read the remainder of the story at this link!)

https://www.barchart.com/story/stocks/quotes/DYFSF/news/853795/facts-omitted-from-the-wall-street-journal-story-about-greg-lindberg-and-his-companies?fbclid=IwAR3lsIX0Wh2ATqdqqFHZ23aGEkEbNuEGjDQv9SieIrkbVj9tlfwl3rhJHkc

BRIBES?? — on BOTH sides of the Aisle?

BRIBES?? — on BOTH sides of the Aisle?

DURHAM, N.C. (WTVD) — The businessman accused to trying to bribe the North Carolina Commissioner of Insurance has spent millions of dollars in past campaign contributions, including to the current chairman of the North Carolina Democratic Party. 

Greg E. Lindberg, Founder and Chairman of Eli Global LLC, and owner of Global Bankers Insurance Group, was arrested Tuesday, along with two of his associates, John D. Gray, and John V. Palermo. A federal grand jury indicted the trio after a lengthy investigation. Investigators say Lindberg wanted favorable treatment from the Department of Insurance — the state’s top consumer watchdog — in return for supporting the re-election campaign of Commissioner Mike Causey. chairman of the North Carolina Democratic Party.      (Read the Entire Article at the link below!)

https://abc11.com/politics/durham-businessman-charged-with-bribery-also-spent-big-money-on-democrats/5232610/?fbclid=IwAR37dwIll31GYyeUgCQUPIYDpPmgX7cmkM44HelDDBJJ8NcWTJYQEBW7k8o

ELI GLOBAL — Nothing Changes with Executive Indictments

ELI GLOBAL — Nothing Changes with Executive Indictments

Durham’s Eli Global is not removing its CEO and founder Greg Lindberg – but, following an indictment on bribery charges, he won’t be leading the day-to-day operation of the investment company, either. 

(Read the Rest of the Article at the link below)

https://www.bizjournals.com/triangle/news/2019/04/03/eli-global-nothing-changes-with-exec-indictments.html?fbclid=IwAR0csT1xXfDAU_fjTQT7VR9rJKDSWIdW6KbF9wJPc_wN_i-M5PJS7Gy42cI

Lindberg Charged with Public Corruption and Bribery

Lindberg Charged with Public Corruption and Bribery

 
The United States Department of Justice
Department of Justice
Office of Public Affairs

FOR IMMEDIATE RELEASE                                                                                                  Tuesday, April 2, 2019

The Founder and Chairman of a Multinational Investment Company, a Company Consultant and Two North Carolina Political Figures are Charged with Public Corruption and Bribery

A federal criminal indictment unsealed today in the Western District of North Carolina charges the founder and Chairman of a multinational investment company, a company consultant and two North Carolina political figures with public corruption and bribery, for their alleged participation in a bribery scheme involving independent expenditure accounts and improper campaign contributions.

Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Andrew Murray for the Western District of North Carolina and Special Agent in Charge John A. Strong of the FBI Charlotte Field Office, made the announcement.

The indictment charges Greg E. Lindberg, 48, of Durham, North Carolina, and founder and Chairman of Eli Global LLC (Eli Global) and the owner of Global Bankers Insurance Group (GBIG); John D. Gray, 68, of Chapel Hill, North Carolina and a consultant for Lindberg; North Carolina state political party Chairman Robert Cannon Hayes, 73, of Concord, North Carolina; and Chairman of a Chatham County political party and an Eli Global executive John V. Palermo, 63, of Pittsboro, North Carolina, with conspiracy to commit honest services wire fraud, and bribery concerning programs receiving federal funds and aiding and abetting.  Hayes is also charged with three counts of making false statements to the FBI.

For the rest of the story, please go here: https://www.justice.gov/opa/pr/founder-and-chairman-multinational-investment-company-company-consultant-and-two-north

SHOCKING NEWS for AAPC Members!!!

NAIC moves to plug insurance ‘loophole’

NAIC moves to plug insurance ‘loophole’

by Duffie Osental   25 Mar 2019

An entrepreneur in North Carolina spent the last five years acquiring life insurers throughout the United States, then allegedly invested as much as 50% of their assets on ‘personal enterprises’ to the tune of $2 billion – which he then used to buy luxuries such as a Gulfstream jet, vacation homes, and even a 214-foot yacht christened the ‘Double Down.’

However, the good times may be coming to an end now that regulators are looking to close the loopholes he allegedly exploited.

For the rest of the story, please visit NAIC.

Comments always welcomed.