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Spanish Investors Sue Insigneo Securities For Up to $500K Following Northstar (Bermuda) Losses. Our Northstar Fraud Law Firm Are Representing These Claimants And Many Others
Shepherd Smith Edwards and Kantas Northstar Fraud Law Firm (investorlawyers.com) is representing two Spanish citizens in their Northstar (Bermuda) investment loss recovery claim against Insigneo Securities. The claimants, who are requesting up to $500K, in addition to interest and costs, are alleging unsuitable investment recommendations, concentration, misrepresentations and omissions, a gross lack of supervision, negligence, grossly negligent behavior, and more.
The couple, one of whom is now deceased, were referred to Insigneo (when it used to be Northeast Securities) through City National Bank in South Florida where they were residents. The wanted a safe haven for their assets. Instead, the broker-dealer allegedly abused their trust by overconcentrating a huge portion of their assets in Norhtstar Financial Services (Bermuda), an offshore investment that is now defunct.
Not only that, but also their financial advisor allegedly misrepresented Northstar (Bermuda) as a CD-like, low-risk investment that would guarantee their principal. These investors are Spanish nationals who did not speak or read English well. Their broker, however, spoke Spanish and continuously reassured them that their savings, including a substantial portion of their net worth, was safe.
In 2020, Northstar Financial Services (Bermuda) filed for bankruptcy protection. Its owner, Greg Lindberg, has been convicted twice of fraud—the first conviction was overturned and the second was a result of a retrial. He is now accused of defrauding annuity investors of at least $2B and awaiting that criminal trial.
We Are A Seasoned Northstar (Bermuda) Loss Law Firm
Shepherd Smith Edwards and Kantas is representing more than 100 investors against the brokerage firms that allegedly unsuitably recommended Northstar Financial Services (Bermuda). These were high-risk, unprotected investments from the start, and proper due diligence would have unearthed the red flags indicating financial and regulatory woes. Not only that, but also Lindberg has long been suspected of funneling money from his insurers to his special purpose vehicles.
Northstar Bermuda Preguntas Frecuentes
One can only assume that the high commissions that financial advisors could earn compelled so many of them to unsuitably market and sell Northstar (Bermuda) to many foreign nationals from Asia, Latin America, and Europe. We are working with many of these claimants, both those living abroad and who are residing in the United States.
When you work with us, you become part of our unit of Northstar Financial Services (Bermuda) fraud cases that are represented by our entire securities firm. We have an in-depth understanding into why these investments failed and the role that brokerage firms played in exposing claimants. We bring over a century’s worth of collective experience in securities law and the securities industry to every case.
Should you decide to retain our legal services, you can count on quality securities representation and personalized attention. Over the decades, thousands of investors have collectively recouped many of millions of dollars through our skilled efforts and dedication.
Contact Our Northstar Fraud Law Firm Today
Call (800) 259-9010 or fill out this form.