The brokerage firm’s supervision of their broker and these claimants’ accounts was deficient and grossly negligent. Had there been proper supervision, it would have been easy to determine that Northstar (Bermuda) was an unsuitable investment for these customers. Instead, misrepresentations and omissions were made to them. Northstar Financial Services (Bermuda) is in liquidation proceedings after filing for bankruptcy protection. Its owner, Greg Lindberg, is serving several years in prison. It appears that the only way that investors will get their money back is if they work with seasoned securities lawyers. Investors of this off-shore company may be owed up to $70M. If you invested in any Northstar Financial Services (Bermuda) products, reach out for legal advice today.
It is unclear why the UnionBanc financial advisor would recommend Northstar Financial Service (Bermuda) products, which paid very little, to these customers that could have invested in a US-based annuity that offered the same tax features but were better regulated. The investors initially only had traditional accounts at Union Bank until someone there connected them with a UnionBanc broker. UnionBanc Investment Services is a Union Bank subsidiary.
Yet, the UnionBanc stockbroker claimed Northstar was a safe investment that supposedly met the claimants’ low-risk threshold along with their desire to make returns. These inexperienced investors trusted the advice of their financial advisor. Now, they are left with serious investment losses. SSEK Law Firm (at investorlawyers.com) is fighting for Northstar Financial Services (Bermuda) investors against the brokerage firms that unsuitably recommended and sold them this off-shore account to their financial detriment. Already, we have investigated several brokerage firms, including but not limited to:
Internationally, text us via WhatsApp (713) 227-2400 Northstar Bermuda FAQs US Toll Free (800) 259-9010
Kirk Smith – email@example.com Contact:
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- SSEK Law Firm Represents Tokyo Investors in Northstar Financial Services (Bermuda) $500K Arbitration Application Against UnionBanc Investment Services | national news
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