Shepherd Smith Edwards & Kantas LLP Represents Chinese Retiree Pursuing Up To $500K From Cetera Over PB Investment Holdings Losses

LOS ANGELES, Aug. 25, 2021 /PRNewswire/ -- A Chinese national has filed a FINRA arbitration claim over losses she suffered after a Cetera Investment Services advisor unsuitably recommended and sold a PB Investment Holdings annuity to her. 

The Bermuda-based off-shore investment (affiliated with Northstar Bermuda) was touted as safe and low risk. That entity is in liquidation and has caused this claimant, who is a retiree, significant losses.

Our securities lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are representing this investor in her FINRA arbitration case to recover damages. A FINRA arbitrator will hear the securities case in Los Angeles, California. 

This is just one of a number of investor claims involving Northstar entities in which we are fighting for clients' financial recovery. If you are a customer who suffered losses because your Cetera broker unsuitably recommended sold PB Investment, Northstar, or another security to you, call SSEK Law Firm at (800) 259-9010 today. 

The claimant, who lives in Hong Kong, has had an account in the US with East West Bank for some time now. The bank, which offers customers investment services through Cetera, introduced her to a registered representative at that brokerage firm. 

This financial advisor went on to recommend PB Investment Holdings, which was previously known as Beechwood, and claimed that PB Investment Holdings was extremely safe and could provide the investor with the returns and low risk that she sought. Instead,  PB Investment Holdings was purchased by Global Banks in 2017 and ended up being owned by billionaire Greg Lindberg who is now serving time in prison. 

Lindberg also acquired Northstar Financial Services which has been named in numerous FINRA arbitration claims.

Each year, when the retiree's account and product were reviewed, the brokerage firm and its financial advisor had the opportunity to rectify their gross mistake by removing her from PB Investment. Instead, they chose to keep her money invested in this annuity. 

Now, this claimant is alleging unsuitability, overconcentration, failure to supervise, misrepresentations, omissions, negligence, breach of fiduciary duties, and securities fraud. 

SSEK Law Firm represents international and United States investors in their PB Investment Holdings and Northstar claims and we are pursuing a number of firms over our clients' losses.

Contact:

Kirk Smith – [email protected]
US Toll Free: (800) 259-9010
International via WhatsApp (text only): 713-227-2400

SOURCE Shepherd Smith Edwards & Kantas LLP

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