Our Northstar (Bermuda) Investor Lawyers Are Representing This Claimant in His Six-Figure FINRA Lawsuit

A Nassau, Bahamas retiree is suing Truist Investment Services through FINRA arbitration for up to $500,000 after advisors unsuitably recommended and overconcentrated his funds in Northstar Financial Services (Bermuda), a risky offshore entity that subsequently went bankrupt. Represented by the law firm Shepherd Smith Edwards and Kantas, the suit alleges that the firm made misrepresentations and falsely guaranteed principal safety for an investment scheme whose owner defrauded investors.

A Nassau, Bahamas retiree is suing Truist Investment Services for up to $500K over losses he sustained in Northstar Financial Services (Bermuda). This was someone who wanted his money in the United States because he considered it a safe financial haven. Instead, Truist went on to unsuitably recommend this offshore entity, which has since filed for bankruptcy protection and is now defunct. Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing this Claimant in FINRA arbitration.

Our Client worked with broker Pedro Escobar, who is now with Ameriprise, and later with financial advisor Juan Ortega, who is still with the Truist. In his Northstar Financial Services (Bermuda) recovery lawsuit, this investor is accusing Trust of abusing his trust by unsuitably recommended this risky product, overconcentrating a large portion of his assets in this offshore investment, making misrepresentations and omissions, and more. He says he was promised safe returns and that his principal was guaranteed. Our Client contends that his broker continued to offer assurances that all was well and he would be paid in full at some point. Instead, he is now looking at significant losses.

Northstar Bermuda FAQs

Why Are Northstar Financial Services (Bermuda) Investors Looking At Serious Losses?

This offshore financial company sold fixed and variable-rate annuities and investment products to non-US citizens all over the world.
After Greg Lindberg acquired this company in 2018, it went on to file for bankruptcy protection. Monthly redemption and income payments were suspended.
Lindberg pleaded guilty to defrauding investors. For years he was suspected of funneling money from some of his companies to his other companies.
Brokers that sold Northstar (Bermuda) earned high commissions and fees. Many of them have since been accused of unsuitably recommending this illiquid risky product to customers, misrepresenting the risks, and ignoring customers’ best interests.

How Can Northstar (Bermuda) Investors Get Their Money Back?

It is highly unlikely that Northstar Financial Services (Bermuda) investors will get much (if any) of their money back from any liquidation proceedings. What they can do is pursue damages from the financial advisors that sold them this investment.
Not only were there signs of trouble involving this offshore entity for quite some time before it collapsed, but also, there are investors whose brokers could have gotten them out sooner but instead encouraged them to renew.
Non-US citizens are entitled to pursue their investment losses against US brokerage firms. To do this you will have to make your claim in FINRA arbitration.

It is important that you retain seasoned investment loss lawyers in the United States to represent you. Shepherd Smith Edwards and Kantas is working with many international investors in suing their US financial advisor for damages related to Northstar (Bermuda). We understand what went wrong and why brokers should be held liable for the role they played.

Find Out How You Can Recoup our Northstar Financial Services (Bermuda) Losses

In the United States, the statute of limitations for filing a claim against your broker is six years. Northstar Financial Service (Bermuda) filed for Chapter 15 bankruptcy protection in December 2020. There is still time to act now.

Call (800) 259-9010 or International via WhatsApp: 713-227-2400 (text only) or contact us online today to request your free case consultation.