No one worries about the insurance industry quite like Tom Gober.<\/p>\n\n\n\n
From his home office outside of Pittsburgh, the forensic accountant has been tracking, documenting and highlighting the weaknesses of the $9.3 trillion sector<\/a> responsible for the financial well-being of millions of Americans.<\/p>\n\n\n\n \u201cI\u2019ve been seeing warning signs for years, and I\u2019ve been very vocal about it,\u201d Gober, 66, said in a recent interview in his living room. More recently, he\u2019s been paying attention to what he says is the most troubling development yet: The influx of private equity\u2019s billions.<\/p>\n\n\n\n The industry waves off its critics as needlessly alarmist, always predicting a disaster that never comes. But that mid-October afternoon, Gober\u2019s phone began to light up. Josh Wander<\/a>, the co-founder of 777 Partners<\/a>, a private equity firm on Gober\u2019s radar, had been charged with cheating investors and lenders out of almost $500 million \u2014 an alleged fraud enabled in part by its opaque and intricate ties with some US insurance companies.<\/p>\n\n\n\n Read it all<\/a>.<\/p> Some great reporting from Bloomberg this week about how private equity is making a grab for life insurance money and hiding it away where traders are gambling it without much oversight. https:\/\/t.co\/QNe2jf8OzO<\/a> pic.twitter.com\/AIwLA0GEQT<\/a><\/p>— Heidi N. Moore (@moorehn) November 19, 2025<\/a><\/blockquote>