Colorado Bankers Life Insurance Investors Continue To Explore Their Legal Options
Our Annuity Investor Loss Lawyers Are Filing Broker Fraud Lawsuits
Shepherd Smith Edwards and Kantas (investorlawyers.com) are continuing to speak with annuity investors who have suffered losses in a number of Greg Lindberg-owned entities, including Colorado Bankers Life Insurance, Bankers Life Insurance, Southland National Insurance Corp., Southland National Reinsurance Corp., PB Investment Holdings, and Northstar Financial Services (Bermuda). All of these companies are under scrutiny and in some kind of financial trouble with many of them in liquidation.
Meanwhile, Lindberg, who is currently out of prison after his wire fraud and bribery conviction was tossed out, now has a retrial date of November 6, 2023. But that criminal case is just the tip of the iceberg when it comes to his legal problems. In August 2022, the US Securities and Exchange Commission (SEC) accused Lindberg of defrauding his own insurance companies in an allegedly massive scam. In February 2023, a federal grand jury indicted him again, this time on new wire fraud and other charges that allegedly involved him lending $2B from his insurance companies to his other companies.
Now, thousands of annuity investors, many of them senior citizens, and retirees, have found themselves struggling with significant losses related to these Lindberg-own companies. Many are saying that their funds have been frozen for years.
While waiting out the liquidation proceedings involving these insurance companies is one way to try and get some of your money back, you may want to explore other options. In a recent Wall Street Journal article, Shepherd Smith Edwards and Kantas Senior Partner and annuity fraud attorney Kirk Smith talked about investors potentially going after the brokerage firms that may have unsuitably sold them the annuities.
The allegations that Lindberg funneled funds from his insurers to special purpose vehicles are not new news nor are the fraud charges against him. As a matter of fact, our annuity investment loss attorneys have already filed dozens of broker fraud lawsuits against many of the financial firms that sold annuities in Lindberg-owned properties to investors. This includes US-based investors who purchased annuities issued by Colorado Bankers Life Insurance, as well as investors living abroad who were sold annuities and annuity-like investments in Northstar Financial Services (Bermuda) and PB Investment Holdings.
Why You Want To Work With Our Savvy Annuity Investment Fraud Lawyers
For over thirty years, Shepherd Smith Edwards has been representing all kinds of investors, including retail investors, retirees, older investors, accredited investors, high-net-worth investors, institutional investors, and others against broker-dealers and investment advisers. Often, this has meant suing financial firms and pursuing damages from them in arbitration, mediation, and litigation.
More than 90% of investors we have represented have received full or partial financial recovery—that’s the collective equivalent of many millions of dollars for the thousands that we’ve helped. Our team of skilled securities fraud attorneys, legal assistants, and consultants make it a point to be directly involved with each client’s claim and when you hire us you are availing of over a century’s worth of combined experience in the securities industry and securities law.
The reasons why annuities issued by Greg Lindberg’s insurance companies became financial product failures are very familiar to us after years of investigating policyholders’ losses. We are also knowledgeable about how broker misconduct and negligence, including what in many instances appears to be the lure of high commissions, may have compelled financial advisors to sell these investments even when customers needed/requested safe, conservative investments with ample protections for their funds.
How To Contact Our Team of Annuity Investment Fraud Lawyers:
Call (800) 259-9010 today to request your free, no-obligation case consultation.