Securities Lawyers

Are You A Northstar Financial Services (Bermuda) Investor? Our Securities Lawyers May Be Able To Help

Owner Greg Lindberg Pleads Guilty To Criminal Charges In $2B Fraud Case

Shepherd Smith Edwards and Kantas Securities Lawyers (investorlawyers.com) continues to investigate claims of losses by investors whose financial advisors marketed and sold them Northstar Financial Services (Bermuda) annuities. Many of our clients are foreign nationals from Asia, Central America, and Europe whose brokers and investment advisers continued to get paid hefty commissions and fees for keeping investors in these troubled investments long after red flags appeared indicating something was amiss.

In December 2020, Northstar (Bermuda) filed for Chapter 11 bankruptcy protection. Since then, Lindberg, who was convicted on bribery and wire fraud charges—a verdict that was overturned and up for retrial—was found guilty again earlier this year.

In November 2024, Lindberg pleaded guilty to criminal charges accusing him of defrauding insurance companies, thousands of investors, and others in a $2B fraud that impacted victims in the US and abroad.

Representing Northstar (Bermuda) Investors Against Brokers and Investment Advisers

Many Northstar Financial Services (Bermuda) investors looked to their US-based financial advisors to place their funds in safe, minimal-risk investments. Instead, a lot of these brokers misrepresented these offshore annuities as CD-like and protected. Even with mounting evidence that Lindberg may have been defrauding investors, many financial advisors did not act fast enough to protect investors and their money.

Our Northstar (Bermuda) loss attorneys are representing more than 100 investors in their FINRA arbitration claims against the brokers that allegedly unsuitably marketed and sold these annuities, failed to properly apprise investors of the risks, and disregarded their best interests.

Even if you reside abroad, you are entitled to US-based securities representation when attempting to recoup damages owed to you because a US financial advisor engaged in broker misconduct or negligence. The first step is to contact our Northstar Financial Services (Bermuda) fraud law firm today. We can help you determine whether you have grounds for a securities claim against your stockbroker and/or their firm.

Shepherd Smith Edwards and Kantas Securities Lawyers has been investigating the broker-dealers that sold Lindberg-issued annuities for years. We understand why these investments failed and the role that financial advisors played in contributing to investors’ losses. Unsuitability, misrepresentations and omission, breach of fiduciary failure, best interest violations, concentration, failure to supervise, and gross negligence are just some of the legal grounds we’ve brought when filing Northstar (Bermuda) loss lawsuits on behalf of clients.

Also, the unsuitable recommendation of Northstar Financial Services (Bermuda) annuities by financial advisors was not advice given that in hindsight proved to be a mistake. As far back as 2011, Moody’s issued a highly negative outlook for Bermuda as a place for investing. By the years ending in 2018 and 2019, Northstar (Bermuda) had failed to submit key documentation. Lindberg, who acquired the offshore entity in 2018, was already well-known for over-leveraging acquisitions.

Contact Our Securities Lawyers Today:

You want to make sure you are represented by seasoned annuity fraud lawyers that know how to maximize your chances for a full recovery.

In the US, call: (800) 259-9010.

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

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