Northstar (Bermuda) Investors Likely to Only Recover Losses By Filing FINRA Arbitration Claims
Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is continuing to speak with investors of Northstar Financial Services (Bermuda) who suffered significant losses because their broker failed to conduct the proper due diligence when they recommended these products.
Already, we have filed a number of Financial Industry Regulatory Arbitration (FINRA) claims against many of the broker-dealers whose registered representatives sold these offshore investments.
List of Firms That Sold Northstar Financial Services (Bermuda) Products
- Truist Investment Services (SunTrust Investment Services)
- Ocean Financial Services
- Bankoh Investment Services
- Raymond James Financial Services
- CommunityAmerica Financial Solutions
- Unionbanc Investment Services
- Cetera Investment Services
- Hancock Whitney Investment Services
- J.P. Morgan Securities
SSEK Law Firm is currently pursuing claims against the majority of these firms on behalf of our clients. This is not the type of investor fraud case that you want to pursue without seasoned legal help.
Our team of experienced securities fraud attorneys is concentrating their attention and resources on fighting for our clients, including those who live abroad, that were unsuitably recommended these investments by US-based firms.
Northstar Financial Services (Bermuda) Investors Suffer Losses
Northstar Financial Services (Bermuda) has declared bankruptcy and was recently ordered into liquidation by the Bermuda government. Its owner Greg Lindberg is in prison and likely misappropriated funds from this company and funneled them into his other companies. There is not much left for investors to pursue directly from this firm.
However, the broker-dealers and their registered representatives that sold these products from this obscure entity in Bermuda, when there were safer US-based options they could have offered, can be held liable. Northstar (Bermuda) products have proved to be the opposite of secure even though financial advisors touted these fixed- and variable-rate annuity and investment products as CD-like and stable. Clearly, there were misrepresentations and omissions made.
Many of those who invested in Northstar Financial Services (Bermuda) are seniors and retirees that took six-figure sums out of their savings and retirement funds to participate. They are now grappling with significant financial losses.
Meanwhile, brokers and their firms earned high commissions and fees from marketing and selling these offshore investments. Not only that, but even after Lindberg was indicted in 2019, many financial advisors neglected to notify investors and continued to roll over their contracts for these investments.
SSEK Law Firm has found that there was a gross lack of supervision on the part of the brokerage firms whose registered representatives sold Northstar Financial Services (Bermuda) investments to customers. Had a supervisor been paying proper attention, surely, they would not have signed off on many of these trades.
Skilled Northstar Financial Services (Bermuda) Broker Fraud Lawyers
Our Northstar Financial Services (Bermuda) investment fraud law firm has spent more than 30 years fighting for investors to recover their damages. We have successfully pursued FINRA arbitration claims and lawsuits against the largest firms on Wall Street, as well as broker-dealers and investment advisors throughout the country. SSEK Law Firm has recovered many millions of dollars on behalf of thousands of clients.
For more information visit our Northstar Financial Services (Bermuda) FAQs page. In the US, call (800) 259-9010 today. Internationally through WhatsApp, you can text us at 713-227-2400. In Mexico, call us at (800)-283-3403.