If You or Someone You Know Suffered Losses in Northstar Financial Services (Bermuda), Contact Shepherd Smith Edwards and Kantas Today

The law firm Shepherd Smith Edwards and Kantas has filed a seven-figure FINRA arbitration lawsuit against Ocean Financial Services on behalf of a Mexican investor who suffered severe losses from Northstar Financial Services (Bermuda). The suit alleges that the broker unsuitably recommended and misrepresented the risky, now-bankrupt offshore product to an investor seeking safe capital preservation, prompting the firm to urge other affected international investors to seek legal recourse.

A Mexican national filed a seven-figure Northstar (Bermuda) recovery lawsuit against brokerage firm Ocean Financial Services. Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing this Claimant in Financial Industry Regulatory Authority (FINRA) arbitration in the United States.

This is someone who was directly approached by then-Ocean Financial Services broker Maria Calcena through the US-based Ocean Bank, where this Claimant had money. Unfortunately, our Client contends, Ocean Financial Services abused her trust by overconcentrating a large portion of her family’s hard-earned assets in Northstar Financial Services (Bermuda).

This Mexican investor had limited investing experience. She relied upon her Ocean Financial Services broker, who traveled to Mexico to meet with her, for investment advice. But instead, this investor alleges, the Respondent went on to make an unsuitable investment recommendation in this risky, illiquid offshore product. This happened even after the Claimant made it clear from the start that she was seeking the preservation of her capital.

Our Client contends that the level of risk involved was misrepresented, and her account was inundated with this unregulated, unprotected, and unrated annuity-like product. Not only that, but this investor was promised safe returns.

She alleges that the Respondent continued to reassure her throughout the life of the account that Northstar (Bermuda) was safe, in line with her investing goals, and presented minimal risk. Instead, this investor sustained serious losses and is suing for up to $1M. She is accusing Ocean Financial Services of breach of contract, negligence, gross negligence, unjust enrichment, and more.

In 2020, Northstar (Bermuda) filed for bankruptcy protection. Its owner, Greg Lindberg, has since pleaded guilty to annuity fraud.

Are You A Mexican Investor Who Was Sold Northstar Financial Services (Bermuda) By Maria Calcena?

This is not the first Northstar (Bermuda) recovery case we have made on behalf of an investor who worked with Maria Calcena as their financial advisor. After leaving Ocean Financial Services in 2020, Calcena, who is based out of Florida, became an Infinex Investments broker from 2020 to 2022. She is now an Osaic Institutions registered representative.

Northstar Bermuda FAQs

Why Are Foreign Nationals Suing Their Brokers Over Their Northstar (Bermuda) Losses?

Investors from Japan, China, Europe, and all over Latin America were unsuitably recommended these offshore investments by their US-based brokers, when there were comparable, better-protected, and regulated investments that could have satisfied their financial goals.
Many of these foreign nationals wanted to take on little to no risk and a safe haven for their assets.
With Northstar (Bermuda) now defunct, these investors have been grappling with how they can recoup their losses.
The brokers who sold Northstar Financial Services (Bermuda) earned a lot in commissions.
A lot of the Northstar (Bermuda) investors we have spoken with and/or are representing said they had no idea their money was in trouble.

Why Hire Trusted Seasoned Northstar (Bermuda) Loss Attorneys?

Suing your broker and filing your own FINRA lawsuit, as opposed to relying only on any bankruptcy proceedings, will likely maximize your chances for a full recovery
It is important that you work with a securities law firm that is experienced in annuity loss recovery, winning awards in FINRA arbitration, and representing investors who are not US citizens or based in this country.
Any ruling by a FINRA arbitration panel will likely be final, which is one more reason to work with investor lawyers who know what they are doing.
Shepherd Smith Edwards and Kantas has filed more than 100 annuity recovery claims involving Northstar (Bermuda) and other Greg Lindberg-issued annuities.

Want To Speak With One of Our Northstar (Bermuda) Loss Attorneys?

To request your free, no obligation case assessment:

Call (800) 259-9010

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

You do not need to speak English to talk to us about exploring your legal options.