Northstar Securities Law Attorney

Northstar (Bermuda) Investors To Receive Update On Liquidation, Distribution Payments. Shepherd Smith Edwards and Kantas Northstar Securities Law Attorney Team Is Continuing To Investigate Losses

If suffered serious losses in Northstar Financial Services (Bermuda), please contact Shepherd Smith Edwards and Kantas (investorlawyers.com). We are representing many investors in pursuing damages against the broker-dealers that unsuitably marketed and sold them annuities from this offshore company that went bankrupt in 2020.

Following a hearing on January 19, 2024, the Joint Provisional Liquidators (JPLs) for Northstar (Bermuda) received procedural directions instructing them to give creditors and policyholders details regarding proposed next steps in the liquidation proceedings, payments of certain distributions, and the valuation of claims. This information is supposed to be provided by February 15, 2024, at the latest.

Many investors, primarily foreign nationals from Central America and Asia, have suffered huge losses in Northstar Financial Services (Bermuda). Unsuitably marketed and sold to them by US broker-dealers, these victims wanted a safe haven for their assets and instead ended up in a now-defunct entity whose annuities didn’t come with proper protections.

Consider that Northstar Financial Services (Bermuda) is in debt for millions of dollars. Its owner Greg Lindberg owes much more and is facing new criminal fraud charges while awaiting a retrial on wire fraud charges. The chances of investors getting back all of their money through the ongoing liquidation proceedings is highly questionable. Not only that but this whole process is expected to take a very long time.

Why Northstar Financial Services (Bermuda) Investors Should Explore Their Legal Options

It appears that many brokerage firms disregarded customers’ best interests. What else could explain why financial advisors placed their funds in an obscure entity when there were comparable investments that were low-risk, better protected, and way more suitable for them? Not only that but Lindberg has long been suspected of funneling funds from his insurers to his special-purpose vehicles. He was indicted on criminal charges in 2019 and indicted on new charges accusing him of defrauding investors of over $2B last year. The high commissions that brokers earned from selling Northstar (Bermuda) had to be another purported incentive.

Shepherd Smith Edwards and Kantas are currently representing more than 100 Northstar Financial Services (Bermuda) investors in suing their US-based brokerage firms. You want to work with seasoned investment loss recovery attorneys who know how to pursue this type of claim. We have been investigating Northstar (Bermuda) since 2020 and are well-versed in how broker fraud exposed so many annuity holders to losses that could have been avoided if only alleged misconduct and negligence weren’t factors.

When you work with us, you are retaining a well-established securities law firm that has more than a combined century’s experience in securities law and the securities industry. Over 90% of our clients have received full or partial financial recovery.

Contact Our Northstar (Bermuda) Securities Law Attorney Team Today To Request Your Free, No Obligation Case Consultation:

Call the SSEK Northstar (Bermuda) Securities Law Attorney Team at (800) 259-9010

International (WhatsApp, Text only): 713-227-2400