Convicted Durham billionaire Greg Lindberg’s attempt at an acquittal and new trial has been rejected by a federal judge.
Judge Max Cogburn has denied an April motion by Lindberg’s legal team that would have reversed his conviction in a federal bribery scheme.
Lindberg’s attorneys had argued in an April memorandum that “a properly instructed reasonable jury” could not have found him guilty. Attorneys also argued that Lindberg was “entitled to a judgment of acquittal or a new trial on entrapment,” alleging that North Carolina Department of Insurance Commissioner Mike Causey “induced” him to commit bribery.
Cogburn flatly rejected the motion Tuesday.
Lindberg, founder of Durham’s Eli Global – now known as Global Growth, was found guilty in March of orchestrating a widespread political bribery scheme. The jury found Lindberg tried to bribe N.C. Insurance Commissioner Mike Causey with the promise of campaign money.
Lindberg, currently awaiting sentencing, has maintained his innocence, and is suing Causey in federal court.
But in a 55-page ruling handed down Tuesday against Lindberg and his purported co-conspirator, John Gray, who was also convicted in March, Cogburn called Lindberg’s arguments “incorrect.”
“After a three-week trial and three days of deliberation, a properly instructed jury considered the relevant evidence and found the defendants guilty,” Cogburn writes, adding that “the law and evidence supported that verdict.”
Lindberg’s legal team didn’t immediately return a request to comment on the situation.
Cogburn also ruled Tuesday that the feds had the authority to forfeit Lindberg’s property. Specifically, the ruling involved nearly $1.5 million in funds from two Wells Fargo bank accounts.
While Lindberg is no longer the CEO of his company, he maintains clear control as an owner. Just last month, the company put out a press release saying it had achieved "record operating results," with multiple quotes from Lindberg.
Global Growth's assets were between $860 million and $1.46 billion in excess of liabilities as of Dec. 31, 2019, Lindberg said in the release.
Lindberg and his associate, John Gray, who was also found guilty on two public corruption charges, face up to 20 years in prison on one charge, and 10 additional years for the second charge.
via Business Journals