Another Chinese Investor Sues Cetera Over Northstar Financial Services (Bermuda) Losses. Our Annuity Loss Lawyers Continue To File Broker Fraud Lawsuits For Foreign Nationals in Asia and Latin America
Once again, the Annuity Loss Attorneys at Shepherd Smith Edwards and Kantas (investorlawyers.com) have filed an annuity fraud lawsuit against Cetera Investment Services on behalf of an international investor who suffered losses in Northstar Financial Services (Bermuda). The claimant, who is a citizen of and resides in China, is seeking up to six figures in damages.
She contends that former Cetera broker Linda Fang, who she met through East West Bank in Southern California where she had a US-based bank account, abused her trust. This Chinese investor is alleging the unsuitable investment recommendations of Northstar (Bermuda), essentially 100% concentration of a significant portion of her assets in this offshore investment, misrepresentations and omissions about the risks and certain negative facts that later came to light, and purportedly continued inaccurate reassurances that all was well even after the brokerage firm stopped marketing this financial product to clients. The claimant is accusing Cetera of gross lack of supervision.