What Are The Legal Options For Latin American Investors Who Suffered Losses in Northstar Financial Services (Bermuda)?
Our Broker Fraud Attorneys Are Representing A Peruvian Retiree In Her Lawsuit Against Truist Investment Services
For Latin American investors who worked with a US-based brokerage firm, you don’t have to be an American citizen to sue for negligence. Currently, Shepherd Smith Edwards and Kantas (investorlawyers.com) are representing dozens of investors from Central and South America who suffered losses in Northstar Financial Services (Bermuda) because their US financial advisor allegedly unsuitably marketed and sold them annuities in this offshore company. Many of our clients wanted a safe, stable haven for their assets. Instead, they ended up losing significant sums of money in this obscure entity.
This includes a Peruvian retiree who is seeking up to $500K in damages from Truist Investment Services (formerly known as SunTrust Investment Services.) She contends that her financial advisor, Raul Benitez, advised that she do more than place her money in CDs. At his purported recommendation, she invested her savings in Northstar Financial Services (Bermuda). Benitez, who was a SunTrust Investment broker at the time, allegedly essentially 100% concentrated her account in this offshore investment that is now defunct.
This claimant is someone who does not speak English and was content to keep her money safe in a US bank/CD account. But her financial advisor promised her safe returns in Northstar (Bermuda) while allegedly misrepresenting the risks to this investment that lacked the usual kinds of protections that came with US-based financial products. One can only assume that the high commissions that brokers were paid were an incentive for such unsuitable investment recommendations. Benitez is now an Aragon Capital investment adviser based in Fort Lauderdale, Florida.
This is one of numerous broker-dealer negligence lawsuits we have brought against Truist/Suntrust on behalf of a Northstar (Bermuda) investor.
Why Work With Our Broker Fraud Attorneys?
Shepherd Smith Edwards and Kantas have filed over 100 annuity loss lawsuits on behalf of Asians and Latin Americans because their brokers unsuitably recommended annuities in this Bermuda entity that had been in trouble for some time. Not only did Northstar Financial Services (Bermuda) fail to fulfill statutory disclosures in 2018 and 2019, but also its owner Greg Lindberg was indicted for wire fraud in 2019 and spent time in prison until his conviction was overturned. A retrial on those charges is scheduled for next year and Lindberg has since been charged with defrauding investors of almost $2B. Also, many Northstar (Bermuda) investors were routinely assured that all was well with their investments and that no changes needed to be made even though there were red flags.
It is highly unlikely that there will be much, if anything, left for Northstar Financial Services (Bermuda) to recoup from the company itself. However, investors may be able to pursue damages from the brokerage firms whose negligence or misconduct got their customers involved in this high-risk investment.
Northstar Bermuda Preguntas Frecuentes
Because our Northstar Financial Services (Bermuda) annuity loss attorneys are representing a unit of many broker fraud lawsuits over this matter, we can harness more resources toward your claim than a smaller firm that is only representing just one or two Northstar (Bermuda) investors. We are one of the largest securities law firms in the US, as well as one of the most respected.
Exclusively representing investors for over 30 years, we have collectively recovered many millions of dollars for thousands of clients. We have the skills, savvy, and experience to fight for you.
How To Contact Our Broker Fraud Attorneys To Schedule Your Free, Initial Case Assessment:
In the US: Call (800) 259-9010
Outside the US (WhatsApp, text only): (713) 227-2400