Venezuelan Family Sues Truist Investment Services For Northstar (Bermuda) Losses
Shepherd Smith Edwards and Kantas (investorlawyers.com) Northstar Financial Services Investment Loss Attorney Teams are representing Latin American investors in pursuing damages from the US-based brokerage firms that unsuitably marketed and sold them Northstar Financial Services (Bermuda) annuities. This includes three Venezuelan claimants, all from the same family, who are seeking up to $500K from Truist Investment Services.
Six-Figure FINRA Lawsuit Alleges Overconcentration Of Savings In Unsuitable Offshore Annuities
Northstar Bermuda Preguntas Frecuentes
These investors had looked to the United States as a haven for their savings. They opened a bank account at SunTrust (which is now Truist) years ago. That was how they met Miami financial advisor Jose Mauricio Lopera-Guevera (Jose Lopera). Considering that Northstar (Bermuda) is now defunct, and its owner Greg Lindberg has been busy battling criminal charges, multiple lawsuits, and regulatory woes, this was a poor recommendation. Yet, Truist allegedly proceeded to place their funds in this risky investment. This caused them to sustain devastating investment losses.
There is no reason why the claimants should have even been exposed to Northstar Financial Services (Bermuda), especially in concentration levels that involved the majority of their assets. Year after year, Truist Investment Services had a chance to review these investors’ assets. As Northstar (Bermuda)’s regulatory and financial problems worsened—and Lindberg was indicted—the brokerage could have made significant changes to this family’s portfolio. They could have even removed their money from this offshore entity. Instead, the broker-dealer made purported misrepresentations and omissions about the risks and how the investments were faring. There was also alleged gross negligence and a failure to supervise involved.
Lindberg, who served time in prison and is awaiting his retrial for wire fraud charges, is now charged with defrauding investors of over $2B.
What To Know If You Are A Non-US Citizen Who Suffered Losses Because of Negligence By A US Broker
Whether you reside in the United States or live abroad, if your US-based broker-dealer played a part in causing your investment losses, you may be able to sue them. You must retain the services of a seasoned broker fraud negligence law firm that knows how to represent foreign nationals.
For over 30 years, Shepherd Smith Edwards and Kantas have worked with US investors and investors from all over the world. We are currently representing more than 100 investors from Latin America and Asia in their Northstar Financial Services (Bermuda) loss lawsuits. This includes other Northstar (Bermuda) investors who are suing Truist.
Unfortunately, too many US brokers decided to avail themselves of the high commissions and fees they stood to earn from selling these offshore annuities to foreign nationals. There is no reason why this should have happened when there were better-rated, better-protected, comparable investments available that they could have recommended.
How Can You Find Out If You Have Grounds For a Northstar (Bermuda) Loss Lawsuit?
Your first step is to contact our savvy Northstar Financial Services (Bermuda) investment recovery attorneys to schedule your free, no-obligation case assessment. With over a century’s worth of combined experience in securities law and the securities industry—not to mention a lot of knowledge about these particular annuities—we can help you determine whether you should sue your broker-dealer. If we decide to work together, we will thoroughly investigate the cause of your losses, prepare your arbitration claim, and represent you in FINRA arbitration.
We understand how scary it can be to lose so much money, especially in a country where you do not reside and in a legal system that may be unfamiliar to you. That is why who you hire to represent you is such an important decision.
More than 90% of our clients have received full or partial financial recovery.
How To Contact the SSEK Northstar Financial Services Investment Loss Attorney Team:
In the US: (800) 259-9010
Outside the US (WhatsApp (text only): (713) 227-2400
You can also contact us online.