Annuity Investment Loss Lawyer

Mexico Institutional Investor Sues Ocean Financial Services For Northstar (Bermuda) Losses

Our Annuity Investment Loss Lawyer Teams Represent Individuals and Institutions in Recouping Damages From Brokerage Firms

An institutional investor from Mexico is seeking up to $500K in damages from Ocean Financial Services. The claimant—a family foundation—worked with broker Maria Calcena whom they met through Ocean Bank.

This institutional investor contends that Ocean Financial Services allegedly overconcentrated a significant amount of their assets in Northstar Financial Services (Bermuda), which is an offshore entity that has since filed for bankruptcy and is now in liquidation. The investor is also alleging due diligence failures, negligence, unsuitability, gross lack of supervision, misrepresentations, and more.

Shepherd Smith Edwards and Kantas Annuity Investment Loss Lawyer Teams (investorlawyers.com) are representing this claimant in their broker fraud lawsuit against Ocean Financial Services. This is also not the only Northstar (Bermuda) claim we have brought on behalf of investors against this broker-dealer.

While there are no prohibitions barring foreign nationals from US-based securities and offshore options, for whatever reason Ocean Financial Services opted to purportedly essentially 100% concentrate this Mexico investor’s assets in Northstar Financial Services (Bermuda) when there were better rated, better protected, less risky investments available. Meantime, the brokerage firm allegedly misrepresented the degree of risk this institutional claimant was taking on while promising principal protection and safe returns.

Not only that, but also this claimant is accusing Ocean Financial Services of continuing to provide reassurances that Northstar (Bermuda) annuities were safe throughout the life of the account. One can only assume that the high commissions the broker-dealer and its now former financial advisor Calcena stood to earn from the sale provided a possible incentive. (The Palm Beach broker is now a registered representative with Infinex Investments.)

Why Should You Work With Our Knowledgeable Annuity Investment Loss Lawyer Team?

Since 2020 Shepherd Smith Edwards and Kantas have filed over 100 FINRA lawsuits against the broker-dealers that sold annuities from Northstar Financial Services (Bermuda), PB Investment Holdings, Colorado Bankers Life Insurance, Bankers Life Insurance, and other insurance companies owned by Greg Lindberg. First indicted of fraud charges in 2019—he was released from prison in 2022 and is awaiting a retrial—the North Carolina billionaire long has been suspected of funneling funds from his insurers to his special purpose vehicles. Lindberg also was indicted of new fraud charges this year and is accused of defrauding annuity policyholders of $2B.

With our in-depth knowledge of how these investments failed and why brokerage firms should be held liable, our skilled annuity loss lawyers are representing US investors, Latin American investors, and Asian investors in pursuing the damages they are owed from the broker-dealers responsible. Should we agree to work together, you will become part of our unit of annuity fraud loss lawsuits involving Lindberg-issued annuities and represented by our entire securities law firm. Retaining savvy broker negligence attorneys who are already well-versed in the specific kind of investment losses that you suffered can only benefit you while helping to maximize your chances for a full recovery.

How To Contact Our Trusted Annuity Investment Loss Lawyer Firm

Over the decades, the Shepherd Smith Edwards and Kantas Annuity Investment Loss Lawyer teams have helped thousands of investors to collectively recover many millions of dollars. We represent institutional investors, retail investors, retirees, high-net-worth individual investors, accredited investors, and more.

US: Call (800) 259-9010

International via WhatsApp (text only): (713) 227-2400