Northstar Financial Services (Bermuda), Ltd.

Our Northstar (Bermuda) investment lawyers represent dozens of investors, including foreign nationals from Asia, South America, Latin America, and Central America, because their US-based broker-dealer unsuitably recommended and sold products from this offshore entity to them.

If you are a Northstar Financial Services (Bermuda) investor or invested in products from related entities PB Investment Holdings, Omnia, Ltd., or PB Life and Annuity, contact us at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. Se Habla Español.

Northstar Bermuda FAQs
Northstar Bermuda に関するよくあるご質問
Northstar Bermuda Preguntas Frecuentes

Northstar Financial Services (Bermuda): Timeline of Events

This obscure, offshore company was founded in the 1990s and offered investment and insurance products that United States-based broker-dealers mainly sold to foreign nationals seeking a safe haven for their assets.

This is why it makes no sense that financial advisors recommended Northstar (Bermuda) products that did not offer the kinds of protections that these investors wanted. Why not recommend comparable US-based investments that were less risky and more secure?

In 2018, Global Bankers and its billionaire owner Greg Lindberg acquired Northstar Financial Services (Bermuda). He was convicted of wire fraud and bribery in 2020 and is serving time in prison.

Lindberg is notorious for using his many annuity and insurance companies to funnel funds to other controlled entities. According to court documents, after acquiring Northstar Financial Services (Bermuda), he directed its assets to US-based special purpose vehicles that he operated.

This offshore company is estimated to have incurred a more than $260M deficit. By September 2020, Northstar (Bermuda) could report just $8M in assets. A few months later, it filed for bankruptcy protection and went into liquidation proceedings.

Investors in Northstar (Bermuda) products have tried to get their investments liquidated but to no avail. Redemption requests also are no longer being honored.

Northstar Financial Services (Bermuda) Products
  • Global Advantage
  • Global Advantage III, V
  • Global Advantage Select
  • Global Interest Accumulator
  • Global Investment Plan
  • Global Index Protect
  • Global Variable Annuity
  • Global VIP
  • Global VIP Elite
  • Met Group Variable Deferred Annuity
  • Met Global Asset Portfolio
  • Met Universal Life
  • Met Variable Universal Life
PB Investment Holdings, Ltd.

PB Investment Holdings is also based in Bermuda and was founded in 2013. This provider of wealth management services to high-net-worth individual investors and financial institutions was purchased by Global Bankers for $3.5B in 2017. It was part of the latter’s acquisition of the Beechwood family of assets. The company has filed for Chapter 15 bankruptcy.

PB Investment Holdings investors have also suffered significant losses.

Omnia, Ltd. (formerly Old Mutual (Bermuda))

Established in 2000 in Bermuda and previously called Old Mutual (Bermuda), Omnia Ltd. was once a Beechwood entity offering investment plans to customers. Global Bankers also acquired it and has since gone into bankruptcy and liquidation proceedings.

SSEK Law Firm is representing Old Mutual (Bermuda) investors in recouping their losses in the following Omnia products:

  • Guaranteed Rate Plan
  • Guaranteed Index Plan
  • Universal Investment Plan
PB Life and Annuity Company

PB Life and Annuity Company is a Bermuda-based insurance company owned by Greg Lindberg. It also has filed for bankruptcy. In 2021, Puerto Rico-based insurer Universal Life Insurance Company (ULICO) sued Lindberg, seeking to hold him responsible for a $524M honor agreement between the two entities.

Why Did Brokers Sell Northstar (Bermuda), PB Investment Holdings, Old Mutual (Bermuda), & PB Life and Annuity Products to Customers?

High commissions and the other payments that financial advisors and their firms received were the incentives instead of the customers’ best interests. Now, investors are claiming that stockbrokers may have misrepresented Northstar Financial Services (Bermuda) investments as:

  • Low-risk
  • Conservative
  • CD-like
  • Presenting no risk of loss of principal
  • Guaranteeing monthly income

This has not been the case. Many of these foreign nationals have suffered six-figure losses, including to their life savings.

For these investors, including seniors, retirees, and other retail investors, their best bet for financial recovery is to pursue a Financial Industry Regulatory Authority (FINRA) arbitration claim against their broker-dealers.

The Brokerage Firms that SSEK Law Firm is Pursuing for Damages On Behalf of Investors

SSEK Law Firm and Northstar (Bermuda) investor interview by The Royal Gazette

Experienced Northstar Financial Services (Bermuda) Investment Fraud Lawyers

Our clients are collectively pursuing millions of dollars from these brokerage firms over losses involving Northstar Financial Services (Bermuda), Old Mutual (Bermuda), PB Investment Holdings, & PB Life and Annuity Company.

Many of these investors are alleging different types of securities fraud: unsuitability, misrepresentation, breach of fiduciary duty, failure to supervise, negligence, and other claims.

SSEK Law Firm is committed to fighting for these investors. We have over 30 years of experience recovering many millions of dollars on behalf of our clients. To schedule your free, no-obligation consultation about your Northstar Financial Services (Bermuda) investment losses, get in touch by calling or contacting us online:

United States: (800) 259-9010
International Via WhatsApp (text only): 713-227-2400

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