Policyholders Are Well Secured, Lindberg Says.
ORLANDO, FL, August 08, 2023 /24-7PressRelease/ — Greg Lindberg’s various investments generated $1.70 billion in revenue – a 16% increase in revenue over the year earlier period of $1.46 billion. Total adjusted EBITDA for the 2022 calendar year was $305 million, according to Lindberg.
“Thank you to all team members for their persistence and determination to achieve breakthrough results despite all of the false claims we have endured,” Lindberg said. “The performance of the group of companies demonstrates the strength of the team and the ‘first who, then what’ business model. I am sincerely grateful for the hard work and dedication of every one of the global team members.”
Lindberg has investments in over 100 business units worldwide serving customers in the areas of healthcare technology, electronic medical records, unified communications products and services, accounts receivable management services, B2B software, and other business and financial services.
Lindberg says his investments focus on high barrier-to-entry, high recurring-revenue businesses with strong underlying market growth potential in global niche markets. “We follow a contrarian model that puts decision-making in the hands of each company and keeps corporate bureaucracy to a minimum. We believe that the people who know our customers and employees must drive outcomes,” Lindberg says.
Policyholders Are Well Secured, Lindberg Says.
“These strong operating results indicate that the policyholders of my insurance companies are well secured by the loans they have made to these companies,” Lindberg says. “Despite the multiple legal battles we are engaged in, the group of investments is performing very well.”
“There is only one reason that policyholders have not been able to access their full policy benefits: because Mike Causey is playing politics,” Lindberg says. “And because Causey is playing politics, the NCDOI has refused to take action on the offers they have received to purchase these companies,” Lindberg says.
“Causey’s agents took over five months to execute a simple non-disclosure agreement to supply information to a potential buyer and then refused to provide the detailed information that the buyer required to close the deal,” Lindberg says. Causey is blocking the sale because a sale is contrary to Causey’s false claims about the companies.
Regardless, Lindberg says he continues to fight every day to complete the sale of his insurance companies.
“It’s just a matter of time before the facts are clear to everyone that the real problems here is politics,” Lindberg says. ” Causey’s abuse of power for his own political gain is the real problem here. His actions have harmed policyholders and have caused hundreds of millions of dollars of damages to the companies that policyholders are relying on to back their policies.”
Things Are Not “Closing In On Greg Lindberg” As Causey Had Wished.
“Almost 5 years ago now, Causey sent a gleeful text to the FBI stating that ‘things are closing in on Greg Lindberg,'” Lindberg said.
“The courts and our global team have proved Mike Causey wrong,” Lindberg says. “Mike Causey has worked tirelessly for 5 years to try to use the power of his office and the power of federal prosecutors to ruin our businesses and convict me of a crime. But all he has to show for it are a pile of lies and me sitting here with no criminal record,” says Lindberg.
“The business is flourishing despite Causey’s best efforts to damage to our companies through his politically-motivated investigations, litigation, and false statements to the Wall Street Journal, his false statements to the FBI, and his perjury in Federal court,” Lindberg said. “This is a victory for every American who stands up to politicians who abuse the power of their office for their own personal gain,” Lindberg said.
Lindberg said that the Global Growth group of companies previously filed a lawsuit in Federal court to recover over $400 million in damages from Causey. A previous statement on that lawsuit was released here.
“Mike Causey used false statements as justification to force our insurance companies into rehabilitation, depriving them of access to capital,” Lindberg said. “Prior to Causey forcing our companies into rehabilitation, I routinely invested excess capital into the insurance companies to protect policyholders,” Lindberg said. For example, Lindberg reported that he contributed $54 million to Global Growth’s North Carolina insurers as additional paid in capital on December 31, 2018, just 6 months before these North Carolina insurers went into rehabilitation.
Also, as another example, Lindberg said that he personally covered a $17 million loss from a fraud perpetuated by Oklahoma mortgage banker Ron McCord. “This is a good example of me putting money into the insurance companies to make them more secure solely for the benefit policyholders — even when I did not legally or contractually have to. I funded $17 million into the insurance companies to cover this fraud by Ron McCord within 24 hours of discovering it,” said Lindberg.
A report by a nationally recognized valuation firm found that Lindberg “has not taken dividends from its [insurance] subsidiaries despite adequate capital available for such distributions,” Lindberg said.
This same report found that Lindberg invested over $376 million in his U.S. insurance companies – and never took a penny of dividends. “We capitalized our insurance companies with capital far in excess of minimum capital levels solely to protect policyholders,” Lindberg said.
“We have always done the right thing for policyholders,” said Lindberg, “but the same cannot be said about North Carolina Insurance Commissioner Causey.”
About Greg Lindberg
Greg Lindberg is a successful entrepreneur, philanthropist and author. Through his successful career, Lindberg has reimagined and transformed hundreds of businesses, employed thousands of people, empowered leaders and impacted communities through philanthropic efforts. His experiences as a leader and challenges have inspired him to empower people to achieve optimal success through wellness, longevity and leadership. Lindberg also has authored two books: Failing Early & Failing Often: How to Turn Your Adversity into Advantage and 633 Days Inside: Lessons on Life and Leadership. For more information, visit GregLindberg.com.
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