Hawaii Broker Yoko Farias Is Also A Respondent In This FINRA Lawsuit

Shepherd Smith Edwards and Kantas is representing a Tokyo-based retiree in a $500,000 FINRA arbitration claim against Bankoh Investment Services and broker Yoko Farias over losses in Northstar Financial Services (Bermuda). The lawsuit alleges that the Respondents unsuitably recommended the high-risk, offshore annuities as safe investments despite the entity’s eventual bankruptcy and the owner’s guilty plea for fraud.

Shepherd Smith Edwards and Kantas FINRA Arbitration Attorneys are representing another international investor who suffered serious losses in Northstar Financial Services (Bermuda). The Claimant, who resides in Tokyo, Japan, is seeking up to $500,000 damages from Bankoh Investment Services and financial advisor Yoko Farias. This is not the first Northstar (Bermuda) loss claim against Bankoh or this particular broker that we have filed on behalf of a retail investor.

Our Client is an older retiree who looked to the US as a safe haven for her assets. She had a bank account at Bank of Hawaii, which is how she met Farias, who was a Bankoh Investment Services financial advisor at the time. Yoko Farias is now a registered representative with Cetera Investment Services.

In her Northstar (Bermuda) recovery case, this investor contends that the Respondents unsuitably recommended annuities from this unknown offshore entity and promised safe returns, minimal risk, and principal protection guaranteed. Instead, this Japanese investor has gone on to suffer substantial losses in an unprotected, unregulated, unrated, high-risk investment that was unsuitable for someone like her.

Northstar Financial Services (Bermuda) filed for Chapter 15 bankruptcy protection in 2020. Its owner, North Carolina billionaire Greg Lindberg, has pleaded guilty to defrauding annuity investors.

In her Northstar (Bermuda) recovery case, filed in FINRA arbitration, this Claimant is alleging:

Unsuitability
Misrepresentations and omissions
Excessive concentration
Negligence
Breach of fiduciary duty
Possible fraud
Failure to supervise
Gross negligence
Breach of contract
Vicarious liability
And more.

Why Are Investors Suing Their Brokers Over Their Northstar Financial Services (Bermuda) Losses?

It is highly unlikely that Northstar (Bermuda) investors will recover much, if anything at all, from the bankruptcy proceedings. At the time of the bankruptcy, this offshore entity reported more than $260M in debt and just $8M in assets.
Brokers sold this risky investment to foreign nationals in Asia, throughout Central America, and in Europe, even though many of them made it clear they wanted low-to-no risk investments and to keep their money safe.
Brokerage firms and their registered representatives were paid high fees and commissions for selling this high-risk, illiquid product. This may have proved the greater incentive rather than the customers’ best interests.
Even when there were red flags indicating problems at Northstar (Bermuda), many brokers failed to remove their customers from this investment.

Northstar Bermuda FAQs

Northstar Bermuda に関するよくあるご質問

北极星百慕大常见问题解答

Northstar Bermuda Preguntas Frecuentes

If you are an international investor, you still can sue your US-based broker-dealer for your portfolio losses. It is important, however, that you hire skilled Northstar Financial Services (Bermuda) recovery attorneys in the United States to represent you.

Shepherd Smith Edwards and Kantas FINRA Arbitration Attorneys are representing many foreign investors seeking to recoup their losses in Northstar (Bermuda) against Bankoh and other brokerage firms. We understand why these products failed, and the role financial advisors played that warrants suing them for broker misconduct or negligence.

What Requests For Relief Can Northstar Financial Services (Bermuda) Investors Pursue From Brokerage Firms?

Depending on the specifics of your portfolio losses and the actions of your broker, you may be able to recover:

All sums lost in your account on transactions made and not made.
Lost opportunities incurred
Rescission of transactions.
Statutory damage.
Punitive damages.
Pre-award and pre-judgment interest.
All costs of these proceedings, including all fees.
Any and all other relief available to you.

I’m An Investor Residing Outside the US. How Can I Sue My Broker Over My Northstar (Bermuda) Losses?

Contact our investment loss recovery law firm so we can help you explore your legal options.
If you do have grounds for a claim, you will have to sue your financial advisor in FINRA arbitration. We can help you do this.
This is not the kind of legal case you want to make without seasoned Northstar (Bermuda) attorneys who have the knowledge and resources to fight for you.

Talk to Us About Your Northstar (Bermuda) Losses:

You do not have to speak English to work with us.

In the US, call: (800) 259-9010

International Via WhatsApp (text only): 713-227-2400