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Northstar Financial

Recover Northstar Financial (Bermuda) Investment Losses

Northstar Investors May Be Able to Recover Their Losses Through FINRA Arbitration

National securities and investment fraud law firm Levin Law, P.A. (“Levin Law”) is investigating brokerage firms that recommended and sold Northstar Financial Services (Bermuda) Ltd. investments. In 2020, Northstar Financial Services filed for bankruptcy and is currently in provisional liquidation.

If you were recommended and sold Northstar Financial Services (Bermuda) investments and suffered losses, please contact our office at (305) 402-9050 or contact@levinlawpa.com. Investors might be entitled to compensation through a FINRA arbitration claim.

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$35,000,000

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$35 million recovery for a family office from a brokerage firm that was alleged to have churned the client’s accounts and engaged in other wrongdoing.

$17,000,000

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$17 million in assets recovered for investor in connection with unsuitably risky derivative investment.

$13,579,000

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$13.579 million recovery from a brokerage firm that sold fraudulent securities issued by a Ponzi scheme after failing to conduct adequate due diligence of the Ponzi scheme.

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Investors Have Suffered Losses Due to Northstar’s Collapse Following Greg Lindberg’s Conviction

Soon after Northstar’s acquisition by Global Bankers, Northstar fund shares declined in value following allegations of misconduct and a subsequent criminal conviction of Greg Lindberg, Global Bankers’ founder and chairman. In March 2020, Lindberg was convicted on federal charges of attempted bribery and corruption.

Unsuitable Northstar Recommendations Led to Millions in Losses

Investors in Northstar Financial Services (Bermuda) Ltd (“Northstar”) have unsuccessfully attempted to redeem their funds and may have lost them completely. Northstar was unable to provide liquidity to investors who attempted to liquidate their investments.

Advertised as purportedly conservative investments comparable to a bank certificate of deposit, financial advisors from SunTrust and other broker-dealers are alleged to have recommended Northstar to investors in Florida, South America, Japan, Indonesia, and other countries.

Court documents from Bermuda indicated over $70 million was owed to investors as of September 2020 but Northstar reported only $8 million in assets.

Contact Levin Law at (305) 402-9050 or contact@levinlawpa.comtoday if you were an investor in any Northstar Financial Services fixed-rate, insurance, annuities or other products. Levin Law represents investors throughout the United States and the rest of the world. Levin Law’s founding attorney has recovered nearly $100 million in assets for investors.

Which Banks and Brokerage Firms Recommended or Sold Northstar?

The following brokerage firms have been known to recommend and sell Northstar Financial Services (Bermuda) investments:

Cetera Investment Services
J.P. Morgan Securities
Ocean Financial Services
Bankoh Investment Services (a/k/a Truist Investment Services)
Hancock Whitney Investment Services
SunTrust Investment Services
Unionbanc Investment Services
Wells Fargo Investment Services
Truist Investment Services

Northstar Financial Services, based in Bermuda, offered fixed-rate, insurance, annuities, and other products including:

Global Interest Accumulator
Global Advantage Plus Series
Global Advantage Select
Global VIP Elite
Global Index Product

Have You Suffered Losses Related to Northstar Financial Services (Bermuda)?

A brokerage firm may be held liable for losses resulting from their representative’s unsuitable recommendation, failure to adequately disclose risks, material misrepresentations, negligence, or breach of fiduciary duty. Investors may also be entitled to compensation through a FINRA arbitration claim for the broker-dealer firm’s failure to properly investigate the investments recommended by their stockbroker or investment advisor, as well as their failure to supervise.

Several arbitration claims against brokerage firms that recommended investment in Northstar Financial Services (Bermuda) have already been filed with the Financial Industry Regulatory Authority (FINRA), including those against SunTrust Investment Services, Bankoh Investment Services, and Ocean Financial Services. It is believed that brokers received high-commissions for the recommendation and sale of these risky, unsuitable investments.

If you suffered losses in a Northstar investment, please contact Levin Law, P.A. for a free case evaluation to see if you qualify to bring a lawsuit, arbitration claim, or class action against the financial professional or institution that recommended Northstar to you.

Contact Levin Law managing partner Brian Levin at (305) 402-9050 or email brian@levinlawpa.com 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.

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At Levin Law, P.A., we represent individuals, institutions, family offices, and other consumers who have been wronged by investment fraud, data privacy breaches, cybersecurity issues, consumer protection violations, and cryptocurrency hacking/fraud.

We represent individuals in the U.S. from our offices in Miami, FL and Detroit, Michigan, as well as international clients throughout the world. At Levin Law, we are passionate about fighting for justice and won't rest until our clients' cases are resolved.

Contact Levin Law today for a free case evaluation with our team: (305) 402-9050. We look forward to speaking with you to determine your legal options.

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