Life Insurance Fraud Lawyers

Houston Investor Sues Oak Harvest Financial Group Over Annuity Losses

How Our Colorado Bankers Life Insurance Fraud Lawyers Can Help You

A Texas investor has filed a seven-figure securities fraud lawsuit against registered investment adviser Oak Harvest Financial Group and its principal Troy Robert Sharpe. The plaintiff contends that the RIA allegedly unsuitably recommended that he invest his savings in annuities from Western Bankers Life Insurance, which is a Bankers Financial Corp. subsidiary, Colorado Bankers Life Insurance, and Upstream Life Insurance Company.

The defendants allegedly led this investor to believe that these were safe, low-risk investments that were suitable for his financial goals, which included the preservation of principal. They purportedly claimed that insurance companies were about 10 times safer than banks and would never go broke. They said that even if financial trouble ever did happen, there was a process in place that would protect this investor’s money.

Instead, in 2022, both Western Bankers Life Insurance and Colorado Bankers Life Insurance did go under after they were placed into liquidation by the North Carolina Department of Insurance (NCDOI). Not only that, but state guaranty associations have low protection limits.

Shepherd Smith Edwards and Kantas ( are representing this investor in his annuity fraud claim against Oak Harvest Financial Group and Sharpe. If you are someone who also suffered losses in Colorado Bankers Life Insurance or Western Bankers Life Insurance, contacts us today to request your free, no-obligation case consultation.

Our Skilled Life Insurance Fraud Lawyers Bring Years Of Experience To Colorado Bankers Life Insurance and Western Bankers Life Insurance Claims 

Both insurers are owned by billionaire Greg Lindberg. Currently out of prison while awaiting retrial, Lindberg recently faced additional criminal charges accusing him of a $2B fraud that allegedly scammed investors, including annuity policyholders. He has become infamous for purportedly funneling funds from his many insurance companies to his special-purpose vehicles.

For the past few years, our dedicated annuity investor loss lawyers have been going after the brokerage firms and registered investment advisors that allegedly unsuitably recommended and sold Lindberg-issued products to customers. Many appear to have made misrepresentations and omissions that included downplaying the risks. Unfortunately, the high commissions that financial advisers earned from these investments may have compelled them to disregard any red flags and ignore their clients’ best interests.

In addition to going after the RIAs and broker-dealers over investor losses related to Colorado Bankers Life Insurance and Bankers Life Insurance, we have filed dozens of broker fraud lawsuits involving Lindberg’s offshore annuity companies Northstar Financial Services (Bermuda), PB Investment Holdings, and others. Because of our in-depth knowledge of Lindberg-issued annuity products, along with all the deep investigations we’ve conducted into the ways that financial advisors engaged in related due diligence failures and other types of negligence, we are the trusted annuity fraud law firm to consult with about whether you too may have grounds for an investor loss lawsuit.

Should we agree to work together, you will have our entire team of seasoned annuity fraud attorneys, legal assistants, consultants, and others fighting for you. Shepherd Smith has helped thousands of retail investors, retirees, accredited investors, wealthy investors, and institutional investors to collectively recover many millions of dollars through mediation, arbitration, and litigation.

So that we can help you explore your legal options, throughout the US call (800) 259-9010 today to speak with one of our Life Insurance Fraud Lawyers today.


Contact Information