annuity fraud

Annuity Fraud Lawyers

Published on: April 28, 2025 | by Shepherd Smith Edwards & Kantas, LLP

Northstar (Bermuda) Investors Can Still Explore Their Legal Options. Our Annuity Fraud Lawyers Continue To File Claims Against Brokerage Firms

Shepherd Smith Edwards and Kantas Annuity Fraud Lawyers (investorlawyers.com) represents dozens of investors, mostly foreign nationals, in their FINRA lawsuits against the US broker-dealers that marketed and sold Northstar Financial Services (Bermuda) to them.

This offshore entity was owned by billionaire Greg Lindberg, who recently pleaded guilty to defrauding investors of $2B. But there were red flags indicating something was amiss even before then. Yet that did not stop many brokerage firms from promoting this risky, unprotected investment, including to those who wanted to take on low-to-no risk.

CB Life Annuity Loss Attorneys

Published on: September 13, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Even With The Liquidation of Colorado Bankers Life Insurance Cleared To Move Forward, Investors’ Best Bet For Financial Recovery Remains Exploring Their Legal Options. Our CB Life Annuity Loss Attorneys Continue To File Claims Against Broker-Dealers

The North Carolina Supreme Court has cleared the way for the liquidation proceedings of Colorado Bankers Life Insurance and Bankers Life Insurance. Both are owned by convicted fraudster Greg Lindberg.

Delays to the insurers’ liquidation proceedings left many thousands of investors with their money frozen over the last few years. However, just because the remaining issues that were roadblocks have been dismissed, this doesn’t mean that both entities can pay investors what they are owed. Not only that but Lindberg is awaiting another criminal trial accusing him of defrauding annuity holders of $2B. He also owes hundreds of millions of dollars in legal judgments.

CB Life Annuity Fraud Attorneys

Published on: July 15, 2024 | by Shepherd Smith Edwards & Kantas, LLP

For CB Life Annuity Fraud Investors, Suing Their Broker May Be The Best Option For Financial Recovery. Our CB Life Annuity Fraud Attorneys Continue To Investigate Claims of Loss

Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing investors who have suffered losses in CB Life annuities issued by Colorado Bankers Life Insurance. These investments were marketed and sold by US-based brokerage firms that earned high commissions and fees. Meanwhile, thousands of investors have lost money in the six-figures.

Colorado Bankers Life Insurance is one of the many insurers owned by Greg Lindberg, who was recently convicted of wire fraud and is accused of defrauding annuity investors of over $2B. Placed in liquidation by the North Carolina Department of Insurance, this entity was found to have assets of about $1.37B and liabilities of $2.5B. Lindberg has long been suspected of funneling money from his insurance companies to his special purpose vehicles. Adding insult to injury, many CB life annuity investors are finding that their investment was never fully protected because they invested more than what could be covered.

CB Life Annuity Fraud Attorneys

Published on: May 31, 2024 | by Shepherd Smith Edwards & Kantas, LLP

_{Northstar (Bermuda) and Colorado Bankers Life Insurance Owner Greg Lindberg Found Guilty of Bribery A Second Time.}_{Our Seasoned Annuity Fraud Lawyers Are Representing Investors Who Suffered Losses In One of His Many Insurers}

_{If you sustained losses in}_{Colorado Bankers Life Insurance}_{, Bankers Life Insurance,}_{Northstar Financial Services (Bermuda)}_{, or any other Greg Lindberg-owned insurer, Shepherd Smith Edwards and Kantas (}_{investorlawyers.com}_{) CB Life Annuity Fraud Attorneys can help you explore your legal options. Unfortunately, many US broker-dealers sold these annuities to investors, including US investors and foreign nationals. These retail investors have seen their assets frozen and/or lost in the wake of the insurance companies’ financial woes and Lindberg’s legal and criminal troubles.}

_{Now, the North Carolina billionaire has been convicted for a second time of bribing North Carolina Insurance Commissioner Mike Causey. He is facing up to 30 years in prison. He was convicted in 2020 of the same charges and served nearly two years behind bars. However, a judicial mistake led to that verdict being overturned.}

Northstar Bermuda Annuity Fraud Attorneys

Published on: May 8, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Northstar (Bermuda) & Colorado Bankers Life Insurance Owner Sued For Allegedly Trying To Avoid Paying $580M Legal Debt. Annuity Holders Waiting For Payouts Should Explore Filing Broker Fraud Lawsuits

If you are an investor who suffered losses in Northstar Financial Services (Bermuda), Colorado Bankers Life Insurance, or another insurer owned by billionaire Greg Lindberg, you may want to explore other legal options beyond waiting to get back your money from liquidation or bankruptcy proceedings. If you contact us today, the Shepherd Smith Edwards and Kantas Northstar Bermuda Annuity Fraud Attorneys (investorlawyers.com) can help you assess whether you have grounds for a claim against your broker-dealer for allegedly unsuitably recommending these troubled annuities.

While many investors may be wary of filing a broker negligence lawsuit, the truth is that recovering all, possibly even any of your funds, through those other avenues is unlikely. These insurers are already heavily in debt. Lindberg, who is awaiting two criminal fraud trials, is suspected of funneling money from them to his special-purpose vehicles. He also owes hundreds of millions of dollars in litigation and his legal woes are only worsening.

Annuity Loss Lawyer

Published on: April 15, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Massachusetts Retiree Files Seven-Figure CB Life Annuity Lawsuit Accuses Citizens Securities

Claimant Says Broker Misrepresented Colorado Bankers Life Insurance As A Safe Investment

Shepherd Smith Edwards and Kantas Annuity Loss Lawyer Teams (investorlawyers.com) are representing a Medford, MA investor who is seeking up to $1,000,000 in damages from broker-dealer Citizens Securities over the losses she sustained in a Colorado Bankers Life Insurance annuity. In her FINRA lawsuit, this retiree is alleging unsuitability, negligence, misrepresentations and omissions, breach of fiduciary duty, gross negligence, due diligence failures, breach of contract, failure to supervise, and unjust enrichment.

Annuity Loss Lawyers

Published on: February 7, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Colorado Bankers Life Insurance Investors Still Have Time To Sue Their Brokers

Our Annuity Loss Lawyers Are Representing Claimants Who Suffered Serious Losses

Shepherd Smith Edwards and Kantas (investorlawyers.com) are continuing to represent many of the annuity holders who suffered losses in Colorado Bankers Life Insurance and other Greg Lindberg-owned insurance companies. Unfortunately, about 70,000 retirees and other retail customers have been unable to withdraw the savings that they invested in these insurers for the last few years.

Annuity Loss Attorney

Published on: December 20, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Shepherd Smith Edwards and Kantas Annuity Loss Attorney Team are representing CB Life Annuity Investors in Massachusetts Against Citizens Securities

Broker-Dealer Allegedly Solicited Investors in The Bay State To Invest Beyond Insurance Cap

If you are a Massachusetts investor who suffered losses after you were marketed and sold Colorado Bankers Life Insurance annuities by a Citizens Securities broker, please contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today. It has come to our attention that registered representatives from that broker-dealer may not only have allegedly unsuitably recommended CB Life annuities to many investors in this state, including plenty of seniors and retirees, but also, it appears that these brokers purportedly encouraged them to invest money beyond the $250,000 insurance cap allowed. This has left many investors with serious investment losses and limited options for financial recovery now that Colorado Bankers Life Insurance has gone into rehabilitation and its owner Greg Lindberg is accused of more criminal fraud charges.

Annuity Fraud Law Firm

Published on: November 15, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Are You A Retiree Who Suffered Serious Variable Annuity Losses?

Investors File FINRA Lawsuit Seeking Up To $1M In Damages from Ameriprise Financial

For years the Financial Industry Regulatory Authority (FINRA) has been cautioning brokers against selling variable life insurance to retirees. The self-regulatory organization (SRO) has even said that certain products, such as deferred variable annuities, could be too risky for many older retirees. Yet that hasn’t stopped many financial advisors from unsuitably recommending that seniors use their retirement money to invest in variable annuities (VAs). Such investments tend to be illiquid and are generally long-term investments, while many older investors, because of their age, are best suited for financial products with shorter-term investment horizons and aren’t too volatile or high-risk. It is important to note that this holds true even with VAs that come with riders specifically for seniors.

Annuity Fraud Attorneys

Published on: October 25, 2023 | by Shepherd Smith Edwards & Kantas, LLP

More Japanese Investors Sue Bankoh Investment and Broker Yoko Farias Over Northstar (Bermuda)

Our Trusted Annuity Fraud Attorneys Represent Asian and Latin American Citizens Against US Brokerage Firms

Once again, a Japanese investor is suing Bankoh Investment Services and its broker Yoko Farias over losses they sustained because the latter allegedly unsuitably marketed and sold Northstar Financial Services (Bermuda) annuities to them. The claimant, who met Farias through the Bank of Hawaii, is accusing the respondents of overconcentrating his assets in this risky, offshore investment, which is now in liquidation proceedings. Seeking up to $500K in damages, our client is also alleging unsuitable investment recommendations, due diligence failures, misrepresentations and omissions, and gross lack of supervision.