Why Investors With Colorado Bankers Life Insurance Annuity Losses Should Contact Our Experienced Securities Lawyers
Shepherd Smith Edwards and Kantas Has Already Filed Dozens of Annuity Loss Lawsuits Related to Greg Lindberg-Owned Entities
If you are an investor who purchased annuities issued by Colorado Bankers Life Insurance Company or Bankers Life Insurance Company, you may be wondering how to recover your money, especially in light of a court’s order in late 2022 that placed both entities into liquidation. Both insurers are Global Growth entities and are owned by beleaguered insurance magnate Greg Lindberg.
Shepherd Smith Edwards and Kantas (investorlawyers.com) are currently investigating the brokerage firms that sold annuities issued by Colorado Bankers Life Insurance Company, and other US-based Lindberg-owned insurance companies, including:
Southland National Insurance Corporation and Southland National Reinsurance Corporation. All four were placed by the state of North Carolina into rehabilitation in 2019 to protect policyholders.
Colorado Trusted FINRA Lawyers Fighting for Investors Against Brokerage Firms Over Unsuitability, Due Diligence Failures
Since 2020, our skilled securities attorneys have filed dozens of Financial Industry Regulatory Authority (FINRA) lawsuits against the brokerage firms that sold annuities and annuity-like investments in Lindberg-owned properties, including Northstar Financial Services (Bermuda), PB Investment Holdings, and others. The investors who were harmed in those instances were foreign nationals seeking a safe haven in the US for their assets. Instead, brokers sold them investments from these Lindberg-owned obscure offshore companies that paid high commissions.
Many of the brokerage firms, had they conducted proper due diligence, would have known that not only were these unsuitable investments for many of their international clients but also that Lindberg has long had a reputation for funneling money from his insurance companies to special purpose vehicles. He went to prison in 2020 for bribery and wire fraud, was released last year after that conviction was overturned, and will be tried again in criminal court. Also in 2022, Lindberg, who is accused of defrauding his insurance companies to obtain a $40M loan before unraveling an agreement that would unwind an alleged $1B investment scam, was convicted of honest services fraud and federal funds bribery. He is about to go on trial in front of the US Securities and Exchange Commission (SEC) over an alleged $75M fraud.
Why You Want To Work With Our Seasoned Annuity Investor Fraud Law Firm
One of the many advantages of hiring Shepherd Smith Edwards and Kantas to represent you is that we are well-versed in the inner workings of Lindberg-owned entities. We are already investigating and/or suing many of the brokerage firms that may have disregarded investors’ best interests by selling them these financial products that now may be worthless. Many investors like you are still waiting to recover losses.
You should know that liquidation proceedings are unlikely to give you all of your investor losses back. Although state guaranty associations generally back insurance annuities, the guarantee limit in North Carolina is $300K. This is why you want to explore your legal options with knowledgeable investor loss attorneys who can help you determine whether you have grounds for suing your brokerage firm over your annuity losses.
Should we decide to work together, you will be benefiting from all of the discovery we’ve uncovered in all related claims. Not only that, but you will have our entire team of skilled securities fraud attorneys, paralegals, legal assistants, and consultants working together and fighting for you.
For more than 30 years, Shepherd Smith Edwards and Kantas have been dedicated to representing investors in recouping their losses. We have helped thousands of clients and recovered many millions of dollars on their behalf from brokerage firms.
If you are wondering whether your broker unsuitably recommended and sold annuities in:
- Colorado Bankers Life Insurance
- Bankers Life Insurance
- Southland National Insurance
- Southland National Reinsurance
Schedule your free, no-obligation case assessment with us by calling (800) 259-9010 today.