Articles Posted in Northstar Financial Services

Japanese Couple Files FINRA Arbitration Case for Up to $500K in Damages

Two older investors from Japan have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Bankoh Investment Services and its broker Yoko K. Farias in Honolulu, Hawaii, over Northstar Financial Services (Bermuda) losses. This offshore entity is now in liquidation proceedings. 

Yoko Farias is also with the firm Pacific Century Investment Services. She has been named by other investors who worked with Bankoh as their registered representative of record that unsuitably recommended and sold Northstar (Bermuda) products to them.

Global VIP and Global Advantage Select Were Unsuitable For Claimants

Two older investors from Venezuela have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Ocean Financial Services over losses they sustained in Northstar Financial Services (Bermuda). They are requesting about $385K, plus interests and costs, after the broker-dealer unsuitably recommended Northstar (Bermuda)’s Global Advantage Select and Global VIP. 

Shepherd Smith Edwards and Kantas, LLP and Sonn Law Group, PA jointly represent this couple. A FINRA arbitration panel will hear their Northstar Financial Services (Bermuda) investment claim in Boca Raton, Florida. 

Latin American Investor Pursuing Up to $500K in Northstar Financial Services (Bermuda) Damages 

An older Latin American investor who was unsuitably recommended and sold a Northstar Financial Services (Bermuda) product is requesting up to $500K in damages from Ocean Financial Services. The claimant, who initially just had accounts at Ocean Bank, was advised to invest her money beyond checking and bank accounts. 

This would result in Ocean Financial Services overconcentrating a huge chunk of assets belonging to her and her mother in Northstar Financial Services (Bermuda), which is now defunct. Not only that, but the firm should have never recommended these products to this investor after 2015, which is when she moved to the United States. 

Beechwood Bermuda Investor Was Unsuitably Recommended Non-Traded REIT Healthcare Trust

Another Chinese investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Cetera Investment Services over losses suffered in Beechwood Bermuda (a Northstar Financial Services (Bermuda)-related product). 

This investor also suffered investment losses in the non-traded real estate investment trust, Healthcare Trust Incorporated (HTIA). The claimant alleges negligence, unsuitability, poor supervision, and concentration, among other claims, and is seeking up to $500K in damages. 

Several East West Bank Customers Worked With Cetera Broker Linda Fang

Shepherd Smith Edwards and Kantas (SSEK Law Firm at is continuing to investigate claims of losses involving East West Bank customers who invested in Northstar Financial Services (Bermuda) products. 

East West Bank had signed a partnership agreement with Cetera Investment Services, LLC. The latter would offer “wealth management solutions and support” to the bank’s clients at several branches. East West Bancorp owns East West Bank. It was founded in Los Angeles in 1973 to cater to the Chinese American community in Southern California. It has branches in several U.S. states and China. 

Joint Provisional Liquidators & Deloitte Updates Credit Holders and Policyholders

On February 23, 2022, Rachelle Frisby, the Deloitte Financial Advisory head in Bermuda and the British Virgin Islands, sent a letter to creditors and policyholders updating them about the liquidation proceedings involving Northstar Financial Services (Bermuda) and Omnia, Ltd. (formerly Old Mutual (Bermuda)). Northstar (Bermuda) filed for bankruptcy in 2020. Omnia submitted its filing in 2019.

Both entities, which Global Bankers previously acquired, have come under scrutiny in the wake of owner Greg Linberg’s conviction for conspiracy to commit wire fraud and bribery, as well as their subsequent liquidation proceedings. Meanwhile, investors of both entities have struggled to recover their investment losses. 

Japanese Investor is Requesting Up to $500K in Damages

Another investor in Japan has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Bankoh Investment Services over her Northstar Financial Services (Bermuda) losses. 

This time, the claimant is a small business owner who lives in Tokyo but who had accounts in the U.S. with Bankoh and Bank of Hawaii. She is seeking up to $500K in damages. Her Bankoh broker Yoko Farias is also a respondent in the case. 

Northstar Bermuda Claimants Seek Up To $500K in Damages For Their Losses

Three investors have filed a FINRA arbitration claim against Raymond James Financial Services and Copper Financial (also known as Community America Financial Solutions, LLC). These investors suffered losses in Northstar Financial Services (Bermuda) products.

The claimants, who are foreign nationals that worked for the United Nations based in the United States, are requesting up to $500K in damages. They had traditional bank accounts with the United Nations Federal Credit Union “UNFCU”.  Raymond James and Cooper had offices within the UNFCU branch.

A Claimant is Requesting Up to $5M in Damages For Northstar (Bermuda) Losses 

An older investor has filed a FINRA arbitration claim over losses she sustained in Northstar Financial Services (Bermuda) while working with Cetera Investment Services, LLC. The claimant is a retiree and a foreign national who had an account at a US bank. It was the bank that introduced her to the Cetera financial advisor.

Seeking to keep her assets safe, she entrusted the recommendations of her Cetera Investment Services broker, who then proceeded to unsuitably recommend Northstar Financial Services (Bermuda), essentially overconcentrating 100% of her account with this offshore entity. 

Financial Advisor May Have Unsuitably Recommended Off-Shore Annuities To Multiple Latin American Customers

If you are an investor who lost money after you were sold Northstar Financial Services (Bermuda) products, seek legal advice today as you may have grounds for a FINRA arbitration case. 

Our seasoned Northstar Financial Services (Bermuda) attorneys are continuing to investigate Hancock Whitney Investment Services broker Robin Platt for selling and marketing investments of this off-shore entity to his customers. 

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