Erez Law currently investigating brokerage firms that advised clients to invest in Northstar Financial Services (Bermuda) Ltd.
MIAMI, Sept. 7, 2021 /PRNewswire/ -- Erez Law is currently investigating brokerage firms who advised their clients to invest in Northstar Financial Services (Bermuda) Ltd., an annuity and life-insurance company originally based in Bermuda.
In early 2020, the company's founder, Greg Lindberg, was convicted on federal wire fraud and bribery charges, and is currently serving a prison sentence. Late last year, in September 2020, Northstar began liquidation, and the company is currently approximately $260 million in debt.
Brokerage firms who recommended that their clients invest in Northstar Financial Services (Bermuda) Ltd. include:
- Ankoh Investment Services, Inc.
- Bancwest Investment Services
- Bankoh Investment Services
- Bank of Hawaii
- Cetera Investment Services
- CommunityAmerica Financial Solutions
- Global Advantage Plus Series
- Global Advantage Select
- Global Index Product
- Global Interest Accumulator
- Global VIP Elite
- Hancock Whitney Investment Services
- J.P. Morgan Chase Co.
- Ocean Financial Services
- Raymond James & Associates
- Raymond James Financial Services
- Suntrust Investment Services
- Truist Investment Services
- United Nations Federal Credit Union (UNFCU)
- Unionbanc Investment Services
Northstar financial products include:
- Global Interest Accumulator
- Global Advantage Plus Series
- Global Advantage Select
- Global VIP Elite
- Global Index Product
"Northstar was sold to Latin American investors and investors in China, Taiwan and Japan by US based brokerage firms as a guaranteed investment, "Attorney Jeffrey Erez stated while discussing the lawsuit. "These investors wanted highly regulated and stable investments offered by a U.S based brokerage firm. What they got was a high-risk offshore investment that is now in liquidation."
According to FINRA arbitration regulations, member brokerage firms can be held responsible for the actions of brokers who are registered with their firm.
"Northstar investors may be able to recover their losses against the brokerage firm that sold them the Northstar investment in a FINRA arbitration," Erez said. "This may be their recourse to recover their losses."
About Erez Law
The team at Erez Law is a nationally renowned firm representing investors, trusts, corporations, and other entities in claims against brokerage firms that misled investors about the security and risk of their investments.
If you were a Northstar investor who experienced financial losses, call us at (888)-840-1571 or reach out to us online at https://www.erezlaw.com.
SOURCE Erez Law
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