The Securities and Exchange Commission sued the insurance tycoon Greg Lindbergalleged that he and a lieutenant defrauded insurers of more than $75 million through a series of undisclosed related transactions and consulting fees paid to a Maltese entity.
“We allege a massive fraud scheme, involving unique financial structures and various complex investments,” it said. Osman NawazDirector of the SEC Enforcement Division’s Complex Financial Instruments Unit, in a Tuesday press release accompanying the lawsuit.
