Levin Law, P.A. Investigates Brokerage Firms That Recommended and Sold Northstar Financial Services (Bermuda) Ltd. Products
Domestic and International Northstar Investors Are Encouraged to Contact Levin Law, P.A. to Discuss Filing FINRA Arbitration Claims to Obtain Compensation for Northstar Losses
MIAMI, FLORIDA, June 21, 2021. The national securities and investment fraud law firm Levin Law, P.A. is investigating brokerage firms, banks, and other financial institutions that recommended or sold Northstar Financial Services (Bermuda) Ltd. investments to their customers.
Levin Law, P.A. has been hired by multiple international Northstar investors and is pursuing Financial Industry Regulatory Authority (“FINRA”) arbitration claims against the brokerage firms that sold Northstar investments to their clients. Investors might be entitled to recover some or all of their Northstar losses through a FINRA arbitration claim.
Levin Law strongly encourages individuals who invested in Northstar Financial Services (Bermuda) Ltd and suffered losses to contact Levin Law, P.A. for a free case evaluation regarding possible claims against brokerage firms that recommended and sold the investments. Northstar filed for bankruptcy protection in 2020 and is alleged to be insolvent.
Catastrophic Financial Losses Related to Northstar’s Collapse
It is likely that Northstar investors will lose some or all of their money invested in Northstar Financial Services (Bermuda) Ltd. It is also believed that the Supreme Court of Bermuda issued a winding-up order against the company on March 26, 2021, which is in liquidation. Northstar’s debt is estimated to exceed $260 with tens of millions of dollars still being owed to aggrieved investors.
Greg Lindberg-owned Global Bankers acquired Northstar in 2018. Shortly thereafter, Lindberg was indicted and subsequently convicted on federal bribery and wire fraud charges. When investors learned of the charges against Lindberg, they attempted to redeem their funds. Redemption requests were not honored, and the Bermuda-based company filed for bankruptcy.
Northstar Investments Were Risky and Unsuitable for Most Investors
Northstar offered variable and fixed-rate annuities and insurance products that were sold to investors as safe, conservative options. It is believed that brokerage firms and banks secured high commissions for the recommendation and sale of Northstar products and may have made misrepresentations or failed to adequately disclose risks to clients.
Products offered by Northstar Financial Services (Bermuda) include Global Interest Accumulator, Global Advantage Plus Series, Global VIP Elite, Global Advantage Select, and Global Index Product. Broker-dealers and other financial institutions that failed to conduct due diligence on the Northstar products and also made unsuitable recommendations to purchase Northstar may be liable for investor losses.
Most Northstar investors are eligible to pursue claims against the brokerage firms that recommended and sold Northstar products to them through a FINRA arbitration in the United States.
Holding Financial Institutions Accountable
Financial institutions that recommended and sold Northstar Financial Services (Bermuda) investments are believed to include:
- Suntrust Investment Services (Truist Financial Corporation);
- Raymond James Financial Services;
- Cetera Investment Services;
- J.P. Morgan Securities;
- Ocean Financial Services;
- Bankoh Investment Services;
- Hancock Whitney Investment Services; and
- Unionbanc Investment Services.
Brokerage firms and financial institutions that recommended or sold Northstar investments may be held liable for losses through a FINRA arbitration claim for unsuitability, failure to disclose risks, material misrepresentations and omissions, negligence, or breach of fiduciary duty.
Recovering Northstar Investment Losses
Investors might be entitled to recover some or all of their Northstar losses through a FINRA arbitration claim against brokerage firms and financial institutions that negligently approved and sold Northstar investments.
Contact Levin Law, P.A. for a Free Case Evaluation
If you purchased securities offered by Northstar Financial Services (Bermuda) and suffered substantial losses, contact Levin Law for a free case evaluation. Managing partner Brian Levin has recovered over $100,000,000 in assets on behalf of individual and institutional investors throughout the world.
Northstar investors should contact Levin Law managing partner Brian Levin immediately at +1 (305) 402-9050 or email [email protected] for a free case evaluation. We accept most cases on a contingency-fee basis, meaning you are not responsible for Levin Law’s attorney fees unless money is recovered on your behalf. Please also visit https://www.levinlawpa.com/levin-law-northstar-investments/ for more information.
About Levin Law
Levin Law is a premier national securities and class action law firm with significant experience. Brian Levin, Levin Law’s founding attorney, has helped recover over $100,000,000 in assets through securities arbitration and litigation for individual and institutional investors throughout the country and the rest of the world.
Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.