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Articles Posted in Northstar Financial Services

Investors May Have Lost Up to $70M in Northstar Bermuda Products

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is continuing to speak to investors who suffered losses in Northstar Financial Services (Bermuda) products that were sold to them by Bankoh Investment Services brokers. The broker-dealer is the securities arm of the Bank of Hawaii. 

Our investment fraud attorneys are also investigating claims of losses in Northstar Bermuda products from investors who worked with brokers from Truist Investment Services (SunTrust Investment Services), Ocean Financial Services, and any other firms. Unfortunately, investors may have collectively lost up to $70M.

Former Customer of Florida Broker is Seeking $245K In Damages

Maria Florencia Calcena, currently an Infinex Investments broker in Palm Beach, Florida, is named in a $245K investor claim in which the customer invested in a product from Northstar Financial Services (Bermuda) Ltd. 

The investor is alleging breach of fiduciary duty, negligence, and violation of Florida’s Investor Protection Act during Calcena’s time as an Ocean Financial Services registered representative. 

Inversionista Latinoamericano alega Abuso y Fraude Financiero contra Ancianos 

En una reclamación de arbitraje ante la Autoridad Reguladora de la Industria Financiera (FINRA) contra Truist Investment Services, Inc. (t/c/c SunTrust Investment Services, Inc.), un jubilado de América Latina reclama hasta $500 mil en daños. La reclamante sostiene que su corredora le recomendó inadecuadamente invertir dicha cantidad de dinero en Northstar Financial Services (Bermuda) Ltd. La compañía solicitó protección por quiebra el año pasado.

Truist es la unidad de corredores/agentes de bolsa de SunTrust Bank. La compañía está registrada con FINRA. Los agentes de ambas entidades promovieron fuertemente los productos de inversión y anualidades de renta fija y variable de Northstar Financial Services (Bermuda), los cuales pagaban comisiones, bonos y otros incentivos que eran mayores que los ofrecidos por los productos más típicos de SunTrust Bank.

Latin American Investor Alleges Elder Financial Fraud And Abuse 

In a Financial Industry Regulatory Authority (FINRA) arbitration claim against Truist Investment Services, Inc. (aka SunTrust Investment Services, Inc.), a retiree in Latin America is seeking up to $500K in damages. The claimant contends that her broker unsuitably recommended that she invest that amount in Northstar Financial Services (Bermuda) Ltd. The company filed for bankruptcy protection last year. 

Truist is SunTrust Bank’s broker-dealer unit. The firm is registered with FINRA. Both entities’ agents heavily promoted Northstar Financial Services (Bermuda)’s fixed- and variable-rate annuity and investment products, which paid commissions, bonuses and other incentives that were greater than what the more typical SunTrust bank products offered. 

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