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Why Colorado Bankers Life Insurance And Bankers Life Insurance Investors Should Continue To Explore Their Legal Options
Greg Lindberg’s Proposal To Buy Policies From Investors Is Not A Guarantee of Financial Recovery
Beleaguered insurer Greg Lindberg—the owner of Colorado Bankers Life Insurance, Bankers Life Insurance Company (BLIC), Northstar Financial Services (Bermuda), and a number of other insurance companies—is now asking a North Carolina court to allow him to use the $40M meant to cover his personal tax liabilities from the sale of one of his companies to buy annuities from CBLI and BLIC policyholders who are having financial problems. Currently, tens of thousands of investors, many of them retirees, and seniors, have been unable to access their funds in these annuities over the past few years.
Lindberg, who was released from prison last year and is waiting for a retrial on fraud charges, is now facing new criminal and regulatory charges accusing him of defrauding tens of thousands of policyholders in an alleged $2B annuity scam. He has long been suspected of funneling funds from his insurers to his special-purpose vehicles. Many of these insurance companies are in rehabilitation or liquidation with no financial relief for investors in sight.
Shepherd Smith Edwards and Kantas (investorlawyers.com) represent annuity investors who suffered losses in insurance companies owned by Lindberg. Already, we have filed more than 100 broker fraud lawsuits against the brokerage firms and their registered representatives that allegedly unsuitably recommended annuities issued by:
- Colorado Bankers Life Insurance
- Bankers Life Insurance
- Northstar Financial Services (Bermuda)
- Southland Insurance Corp.
- PB Investment Holdings
- Southland Reinsurance Corp.
Our clients include US citizens and international investors who worked with a US-based broker-dealer to purchase these annuities.
Why You Want To Retain Our Seasoned Annuity Fraud Loss Law Firm
Since 2020, our savvy investor loss attorneys have been conducting deep-dive investigations into Lindberg, his insurance companies, and the many brokerage firms that allegedly overconcentrated clients’ accounts with these annuities, failed to conduct the necessary due diligence into these investments, engaged in misrepresentations and omissions, or committed supervisory failures that led to investors’ losses. We are well-versed in why these investments failed and the legal grounds for why broker-dealers should be held liable.
While Lindberg has for some time been making it seem as if he is here to help investors, if he did, in fact, purposely defraud tens of thousands of policyholders, why should you take his latest proposal seriously? As Shepherd Smith Edwards and Kantas Senior Partner and Annuity Loss Lawyer Kirk G. Smith explained in a The Wall Street Journal article, investors should seriously consider their other legal options, such as going after the securities firms that sold them their annuities contracts from Lindberg-owned insurers.
When you work with our experienced financial product failure attorneys, you will be hiring not just one lawyer. You are retaining the services of our entire law firm which has over a century’s worth of combined experience in the securities industry and securities law. Not only that, but your broker fraud lawsuit will be able to avail of all of our discovery that we’ve accumulated over the past few years into Lindberg annuity-related losses. Your claim will become part of a solid unit of cases represented by us.
Because we have been so heavily involved in so many of these annuity fraud lawsuits, opposing counsel for the broker-dealers knows who we are and that we have the resources, savvy, and knowledge to fight for each client. Over the years, Shepherd Smith Edwards and Kantas have helped thousands of investors to recoup many millions of dollars from broker-dealers and investment advisors.
How To Contact Our Skilled Financial Advisor Negligence Attorney Team:
In the US: (800) 259-9010
International (Via WhatsApp, text only): 713-227-2400