Northstar Financial Services

SSEK Law Firm Continues to Investigate Northstar Financial Services (Bermuda) Losses Involving East West Bank

Published on: March 11, 2022 | by Kirk G. Smith

Several East West Bank Customers Worked With Cetera Broker Linda Fang

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is continuing to investigate claims of losses involving East West Bank customers who invested in Northstar Financial Services (Bermuda) products.

East West Bank had signed a partnership agreement with Cetera Investment Services, LLC. The latter would offer “wealth management solutions and support” to the bank’s clients at several branches. East West Bancorp owns East West Bank. It was founded in Los Angeles in 1973 to cater to the Chinese American community in Southern California. It has branches in several U.S. states and China.

Appointment of Class Representatives in Northstar (Bermuda) and Omnia Liquidations Doesn’t Help Investors

Published on: March 7, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Joint Provisional Liquidators & Deloitte Updates Credit Holders and Policyholders

On February 23, 2022, Rachelle Frisby, the Deloitte Financial Advisory head in Bermuda and the British Virgin Islands, sent a letter to creditors and policyholders updating them about the liquidation proceedings involving Northstar Financial Services (Bermuda) and Omnia, Ltd. (formerly Old Mutual (Bermuda)). Northstar (Bermuda) filed for bankruptcy in 2020. Omnia submitted its filing in 2019.

Both entities, which Global Bankers previously acquired, have come under scrutiny in the wake of owner Greg Linberg’s conviction for conspiracy to commit wire fraud and bribery, as well as their subsequent liquidation proceedings. Meanwhile, investors of both entities have struggled to recover their investment losses.

Another Bankoh Broker Yoko Farias Customer Files Six-Figure Northstar Financial Services (Bermuda) Claim

Published on: February 16, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Japanese Investor is Requesting Up to $500K in Damages

Another investor in Japan has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Bankoh Investment Services over her Northstar Financial Services (Bermuda) losses.

This time, the claimant is a small business owner who lives in Tokyo but who had accounts in the U.S. with Bankoh and Bank of Hawaii. She is seeking up to $500K in damages. Her Bankoh broker Yoko Farias is also a respondent in the case.

Retiree Files 7-Figure Northstar Financial Services (Bermuda) Claim Against Cetera

Published on: December 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

A Claimant is Requesting Up to $5M in Damages For Northstar (Bermuda) Losses

An older investor has filed a FINRA arbitration claim over losses she sustained in Northstar Financial Services (Bermuda) while working with Cetera Investment Services, LLC. The claimant is a retiree and a foreign national who had an account at a US bank. It was the bank that introduced her to the Cetera financial advisor.

Seeking to keep her assets safe, she entrusted the recommendations of her Cetera Investment Services broker, who then proceeded to unsuitably recommend Northstar Financial Services (Bermuda), essentially overconcentrating 100% of her account with this offshore entity.

SSEK Law Firm Continues to Investigate Hancock Whitney Broker Robin Platt Over Investors’ Northstar Financial Services (Bermuda) Losses

Published on: November 15, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Financial Advisor May Have Unsuitably Recommended Off-Shore Annuities To Multiple Latin American Customers

If you are an investor who lost money after you were sold Northstar Financial Services (Bermuda) products, seek legal advice today as you may have grounds for a FINRA arbitration case.

Our seasoned Northstar Financial Services (Bermuda) attorneys are continuing to investigate Hancock Whitney Investment Services broker Robin Platt for selling and marketing investments of this off-shore entity to his customers.

Customer of Ex-Raymond James Broker Alberto Valdes Claims Northstar Global Advantage Select Losses

Published on: October 1, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Miami Financial Advisor Accused of Making Unsuitable Recommendation in Northstar Global Advantage Select Products

A customer of ex-Raymond James Financial Services stockbroker Alberto Valdes has filed a six-figure FINRA claim seeking damages for investment losses sustained in Northstar Financial Services (Bermuda), an off-shore entity that is now in liquidation.

Valdes, who is currently a Citigroup registered representative, was with Raymond James as both a broker and investment advisor from 2016 to 2018.

Mexico Investors File $500K Northstar Financial Services (Bermuda) Claim Against Wells Fargo Clearing Services

Published on: September 30, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Northstar Bermuda FINRA Arbitration Hearing to Take Place in Houston, Texas

A couple who live in Mexico has filed a FINRA arbitration claim against Wells Fargo Clearing Services for the six-figure loss they sustained from investing in Northstar Financial Services (Bermuda).

The claimants were longtime Wells Fargo Bank clients and they were referred to a financial advisor at the broker-dealer. They would go on to work with other Wells Fargo Securities brokers as time passed.

Central American Retiree Suffers Six-Figure Loss After Truist Investment Services Unsuitably Recommends Northstar Financial Services (Bermuda)

Published on: September 27, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Arbitration Hearing Will Take Place in Boca Raton, Florida

An elderly Venezuelan investor is seeking six figures in damages from Truist Investment Services (aka SunTrust Investment Services) over losses he suffered in Northstar Financial Services (Bermuda). The claimant contends that the firm overconcentrated his account by heavily investing his life savings in this off-shore entity, which is now undergoing liquidations proceedings after filing for bankruptcy.

This is one of a number of FINRA arbitration claims that our Northstar Financial Services (Bermuda) attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) have filed against Truist Investment Services and other US-based brokerage firms for unsuitably marketing Northstar (Bermuda).

Representatives To Be Appointed For Each Investor Class in Northstar Financial Services (Bermuda) Liquidation Proceedings

Published on: September 10, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Similar Determination Made in Wind Up Proceedings for Old Mutual (Bermuda)

Bermuda’s Chief Justice Narinder Hargun and Joint Provisional Liquidators (JPLs) are in agreement that representatives will be appointed for every creditor class in the liquidation proceedings for both Northstar Financial Services (Bermuda), Ltd. and Omnia, Ltd., which was formerly Old Mutual (Bermuda).

The Supreme Court of Bermuda also provided direction to the JPLs, after the latter determined that issues related to the assessment of asset segregation among the different kinds of investors could impact how much they all stood to recover.

Northstar Financial Services (Bermuda) Owner Greg Lindberg Sued by Puerto Rican Insurer for $524M

Published on: September 8, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Civil Lawsuit is Latest Legal Trouble For Convicted Businessman, Greg Lindberg

Greg Lindberg, the owner of Northstar Financial Services (Bermuda), is the defendant in a lawsuit in which the plaintiff is demanding that he pay $524M to honor an agreement between two insurers. These insurers are PB Life and Annuity Company and Universal Life Insurance Company (ULICO), which is a Puerto Rico entity.

This is the latest legal woe to hit Lindberg, who is serving time in prison for wire fraud, bribery, and conspiracy to commit honest services fraud. The Durham, North Carolina resident is the founder of Eli Global, LLC and Global Bankers Insurance Group, which acquired: