Annuity Fraud Lawyers

Northstar (Bermuda) Investors Can Still Explore Their Legal Options. Our Annuity Fraud Lawyers Continue To File Claims Against Brokerage Firms

Shepherd Smith Edwards and Kantas Annuity Fraud Lawyers (investorlawyers.com) represents dozens of investors, mostly foreign nationals, in their FINRA lawsuits against the US broker-dealers that marketed and sold Northstar Financial Services (Bermuda) to them.

This offshore entity was owned by billionaire Greg Lindberg, who recently pleaded guilty to defrauding investors of $2B. But there were red flags indicating something was amiss even before then. Yet that did not stop many brokerage firms from promoting this risky, unprotected investment, including to those who wanted to take on low-to-no risk.

We believe the high commissions and fees brokers stood to earn from selling Northstar (Bermuda) annuities took greater precedence over the best interests of customers. This resulted in many unsuitable investment recommendations and now, serious investor losses.

The majority of Northstar Financial Services (Bermuda) investors are from Asia (China and Japan, especially), Europe, and countries all over Latin America. Here are some of the US brokerage firms that our Northstar (Bermuda) loss attorneys have sued on behalf of our clients:

Truist Investment Services (AKA SunTrust Investment Services)
Bankoh Investment Services
Cetera Investment Services
Ocean Financial Services
Infinex Investments
Wells Fargo Clearing Services
Unionbanc Investment Services
BancWest Investment Services
Hancock Whitney Investment Services
JP Morgan Securities
Raymond James
Copper Financial (Community America Financial Solutions)
Insigneo Securities

As far back as 2011, Moody’s had already given a very negative outlook for Bermuda as a place for investments. A lack a Central Bank was one reason cited. Lindberg’s acquisition of Northstar Financial Services (Bermuda) in 2018 should have been another red flag. Even before the fraud allegations, he was long suspected of funneling money from his insurers to his special purpose entities.

For the years ending in 2018 and 2019, the offshore company did not file key statutory financial statements, statutory financial returns, its capital and solvency returns, and its declarations and certificates of compliance. Just three months after Lindberg acquired Northstar (Bermuda), the US Department of Justice launched its investigation and he was indicted in 2019.

Yet, despite all of this, US brokers continued to misrepresent Northstar (Bermuda) as a safe investing opportunity for international investors who specifically sought out stability and security for their assets.

What Should You Do If You Are A Foreign National Whose US Broker-Dealer Sold You Northstar Bermuda?

Even if you are a non-US citizen, or don’t reside in the United States, if a registered representative from a US-based broker-dealer sold you Northstar Bermuda (annuities), and you sustained serious losses involving unsuitability, overconcentration, and failure to supervise, you may be able to pursue damages here in the US through FINRA arbitration. This is not the type of investment loss recovery claim that you want to make without knowledgeable Northstar Financial Services (Bermuda) lawyers like us by your side.

Shepherd Smith Edwards and Kantas Annuity Fraud Lawyers have successfully represented international investors in arbitration, mediation, negotiations, and litigation. We understand why broker-dealers should be held liable for investors’ Northstar Financial Services (Bermuda) losses.

Over the decades, more than 90% of investors have received full or partial financial recovery through our skilled efforts.

Contact our Annuity Fraud Lawyers:

Call: (800) 259-9010

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

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