Northstar Bermuda Annuity Fraud Attorneys

Northstar (Bermuda) & Colorado Bankers Life Insurance Owner  Sued For Allegedly Trying To Avoid Paying $580M Legal Debt. Annuity Holders Waiting For Payouts Should Explore Filing Broker Fraud Lawsuits

If you are an investor who suffered losses in Northstar Financial Services (Bermuda), Colorado Bankers Life Insurance, or another insurer owned by billionaire Greg Lindberg, you may want to explore other legal options beyond waiting to get back your money from liquidation or bankruptcy proceedings. If you contact us today, the Shepherd Smith Edwards and Kantas Northstar Bermuda Annuity Fraud Attorneys (investorlawyers.com) can help you assess whether you have grounds for a claim against your broker-dealer for allegedly unsuitably recommending these troubled annuities.

While many investors may be wary of filing a broker negligence lawsuit, the truth is that recovering all, possibly even any of your funds, through those other avenues is unlikely. These insurers are already heavily in debt. Lindberg, who is awaiting two criminal fraud trials, is suspected of funneling money from them to his special-purpose vehicles. He also owes hundreds of millions of dollars in litigation and his legal woes are only worsening.

On April 25, 2024, Universal Life Insurance Company accused Lindberg of trying to get around having to pay the $580M award (this amount includes the accrued interest of $32K a day) that he owes them. The Puerto Rican reinsurance company filed a complaint with the Delaware Chancery Court accusing him of converting his Global Growth Holdings company from a corporation to a limited liability company. Universal Life alleges that he did this to block it from being able to get at his stock. The reinsurance company claims that this is a violation of his jail-release agreement in one of the criminal cases.

Who knows how long these legal battles will continue to play out? What investors can do, however, is determine whether broker misconduct or negligence played a part in their investment losses. Your financial advisor may not have been directly involved in Lindberg’s alleged scams. However, if they committed due diligence failures, including ignoring red flags, disregarding investors’ best interests by purportedly recommending these high risk investments, or were negligent in other ways, you may be able to pursue damages.

Our Skilled Annuity Fraud Attorneys Are Representing More Than 100 Investors 

To date, Shepherd Smith Edwards and Kantas have filed more than 100 broker misconduct claims related to Lindberg-issued annuities, including CB Life annuities, Northstar (Bermuda) annuities, and others. Our clients include many retirees and other retail investors both in the United States and abroad.

By this point, we are highly knowledgeable about the reasons these investments failed and why the brokers who allegedly unsuitably sold and marketed them should be held liable. We also have had to go up against the legal teams for the same brokerage firms involved so many times by this point that they know we are a seasoned securities law firm that is zealous about fighting for our client’s financial recovery.

We have been exclusively representing investors against broker-dealers and investment advisors for over 30 years. Over the decades, more than 90% of our clients have received full or partial financial recovery through our hard work, savvy, and dedication.

How To  Contact Us About Your Annuity Losses:

Call (800) 259-9010 or fill out this form.

International, via WhatsApp (text only): +1 713-227-2400