NEW YORK, Oct. 15, 2021 /PRNewswire/ -- A Northeast investor has filed a FINRA arbitration claim against brokerage firm Raymond James Financial Services, Inc. over his Northstar Financial Services (Bermuda) investment losses. Our investment fraud law firm is representing him in his FINRA arbitration claim.
The claimant contends that the off-shore investment was unsuitably recommended to him by Sarah Komischke, also known as Xiao Qin Komischke, while she was with Raymond James. Komischke is currently a Cetera Investment Services broker.
After investing $250K in the off-shore investment, the claimant is now seeking up to $500K in damages for his losses.
If you are an investor who suffered significant losses in Northstar Financial Services (Bermuda), call Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) today at (800) 259-9010.
The claimant is an inexperienced investor and now lives in the Northeast but is a foreign national who sought safe haven for his assets in the United States. A then-client of the United Nations Federal Credit Union (UNFCU), he mostly invested in savings/checking accounts and bank products. Komischke never told the investor about the risks involved with Northstar products, misrepresenting it as a safe investment.
Northstar Financial Services (Bermuda) has since gone bankrupt and is undergoing liquidation proceedings. Its owner, billionaire Greg Lindberg is serving time in prison for wire fraud and bribery.
In his FINRA arbitration case, this investor is now alleging the following:
Misrepresentations and omissions
Unsuitable investment recommendations
Breach of contract
Breach of fiduciary
He is also claiming failure to supervise by the brokerage firms, which, along with their financial advisors, earned high commissions and other fees from selling Northstar Financial Services (Bermuda) to its customers.
At SSEK Law Firm, we have a team of experienced attorneys that are currently going after the brokerage firms that sold Northstar Financial Services (Bermuda) products to their customers, including SunTrust's Truist Investment Services, Unionbanc Investment Services, Hancock Whitney Investment Services, J.P. Morgan Securities, Bankoh Investment Services, Ocean Financial Services LLC and others.
You can read our FAQ page for questions that investors have about Northstar Financial Services (Bermuda). Call us at (800) 259-9010 today for your free, no-obligation case consultation.