Did You Suffer Investment Losses In Dutch General Life Insurance/Conservatrix?
The Time To Sue Your Broker For Damages Is Now
Earlier this month, Dutch General Life Insurance Company, doing business as Conservatrix, asked a North Carolina federal court to enforce an approximately $158 million award against embattled US billionaire Greg Lindberg. Conservatrix is one of a number of his insurers that are demanding that he pay them back.
It was in 2019 that Conservatrix first sought to get Lindberg to give back money he withdrew from it. The case went into arbitration in the Netherlands and the ruling issued was in favor of Conservatrix. In 2020, Lindberg tried to get Dutch appellate courts to overturn the awards. This was also the year that Conservatrix was placed in liquidation with new officials placed in charge.
Shepherd Smith Edwards and Kantas are representing investors who have suffered losses in a Greg Lindberg-owned insurer because their broker allegedly unsuitably recommended that they invest in one of these companies. To date, we have filed over 100 broker fraud lawsuits on behalf of US investors and foreign nationals to help them recoup their losses.
If an American brokerage firm sold you investments in a Lindberg insurance company, including any of the following, contact us today to schedule your free, no-obligation case consultation:
- Colorado Bankers Life Insurance
- Bankers Life Insurance
- Southland National Insurance Corp.
- Southland National Reinsurance Corp.
- Northstar Financial Services (Bermuda)
- Beechwood Bermuda
- PB Investment Holdings
Filing A FINRA Lawsuit May Be Your Best Option
Lindberg has long been suspected of funneling money from his insurers to his special purpose vehicles and he even did time in prison for bribery and conspiracy to commit wire fraud. The North Carolina insurance magnate is awaiting a retrial, which was just pushed back to next year, on those charges. He is also facing new charges accusing him of defrauding annuity policyholders of over $2B.
A number of Lindberg’s insurers won a fraud lawsuit against him, which he is appealing. They are also suing him for alleged racketeering in a separate civil case. Meanwhile, The Universal Life Insurance Company, which won a $600M judgment against Lindberg, claims that he is trying to delay payment. In another case, the insurer contends that he owes at least $1.9B to top creditors.
How Can Our Broker Negligence Lawyers Help?
At this rate, with all the civil lawsuits by his own insurers, many of which are in rehabilitation or liquidation—not to mention Lindberg’s other legal owes—there isn’t going to be much left for creditors, including investors, who are waiting to see how these different proceedings will shake out. This is why it is so important that you explore whether broker misconduct or carelessness was involved.
It wouldn’t have been hard for US broker-dealers to conduct the proper due diligence and realize that investing in these insurers was unsuitable for the thousands of senior investors, older retirees, and foreign nationals who have since suffered significant losses. One can only assume that the high commissions and fees that these brokerage firms earned took greater precedence over looking out for their client’s best interests.
Whether you are an American citizen or an international investor, if you worked with a US broker-dealer, you may be able to file a Financial Industry Regulatory Authority (FINRA) lawsuit against the firm to recoup your losses. By now, Shepherd Smith Edwards and Kantas (investorlawyers.com) are well-versed in these Lindberg insurers and the reasons that brokerage firms should be sued for damages.
Should we agree to work together, we will conduct a thorough investigation into your portfolio losses, identify clear grounds for your legal case, and represent you before the panel of arbitrators who will rule on your claim.
We have the skills, resources, and knowledge to represent you. Over the years, more than 90% of investors have received full or partial financial recovery with the help of our team of Broker Negligence Lawyers.
How To Contact Our Seasoned Broker Negligence Lawyers
In the US: (800) 259-9010 today
International via WhatsApp (text only): (713) 227-2400