Colorado Bankers Life Insurance Annuity Investors May Be Able To File Broker Fraud Lawsuits
Owner Greg Lindberg Faces More Criminal Charges
Our annuity investment loss lawyers are continuing to help investors pursue damages from the brokerage firms that allegedly unsuitably recommended and sold them annuities issued by Colorado Bankers Life Insurance Company. The insurer, which entered into liquidation in late 2022, is owned by billionaire Greg Lindberg.
Lindberg, who is currently out of prison after his conviction for bribery was overturned and is awaiting retrial, was again indicted by a federal grand jury. He is accused of running a $2B scam to defraud policyholders of hundreds of millions of dollars. Lindberg is denying these latest charges, which include 13 criminal counts.
For the last few years, Shepherd Smith Edwards and Kantas (investorlawyers.com) have been investigating claims of investor losses involving Lindberg-owned entities, including Northstar Financial Services (Bermuda), PB Investment Holdings, Colorado Bankers Life Insurance, Bankers Life Insurance Company, Southland National Insurance Corporation, and Southland National Reinsurance Corporation. The latter four entities, all based in the US, were placed into rehabilitation by the state of North Carolina a few years ago to protect policyholders.
Why You Should Explore Your Legal Options With Our Skilled Annuity Investment Loss Lawyers
Since 2020, Shepherd Smith Edwards and Kantas have filed dozens of broker fraud lawsuits against the brokerage firms that sold investments from Lindberg-owned properties to investors, including US residents and foreign nationals. Our experienced annuity loss lawyers are extremely knowledgeable about and familiar with the ways in which brokerage firms may have unsuitably recommended these financial products to clients and/or failed to conduct the proper due diligence to ensure that these investments were safe, viable opportunities.
Lindberg, who is notorious for allegedly funneling money from his annuity and insurance companies to his special-purpose vehicles, has been under investigation for a number of years. Yet this didn’t seem to stop broker-dealers from marketing and selling their annuity and annuity-like investments to their customers.
One can only assume that the higher commissions and fees that financial advisors were able to earn from selling these financial products may have allegedly compelled a number of them to disregard investors’ best interests. Many of those who have suffered serious losses related to Lindberg-owned companies include retirees, older investors, and inexperienced investors that wanted safety and stability and not much if any, risk.
If financial advisor misconduct or negligence contributed to your annuity investment losses, Shepherd Smith Edwards and Kantas can help you assess this during a free, no-obligation case assessment. Should we decide to work together, we can represent you in your broker fraud lawsuit and fight for your financial recovery in FINRA (Financial Industry Regulatory Authority) arbitration.
You want skilled annuity investor fraud lawyers that understand the nuances of these specific products’ failures. Because there are so many broker misconduct lawsuits being filed related to Lindberg-issued annuities, there are benefits to being part of a unit of legal cases represented by one trust securities law firm harnessing its resources to fight for all of you.
How Can You Reach Our Colorado Bankers Life Insurance Annuity Investment Loss Lawyers?