An investor who lost $1 million investing in variable annuities sold by Northstar Financial Services (Bermuda) has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Hancock Whitney Investment Services, Inc., and the Hancock Whitney broker who concentrated his retirement portfolio in Northstar offerings.
The investor, a longtime banking client of Hancock Whitney, is seeking return of his principal and other damages. The investor lost the entirety of his principal when Northstar Bermuda filed for Chapter 15 bankruptcy amid a run on surrender requests. The debt-ridden Bermuda-based Northstar Financial Services (Bermuda) is now in liquidation proceedings, and Greg Lindberg, the owner of its holding company, is also facing SEC charges of misconduct.
Silver law Group Has Filed Claims On Behalf Of Northstar Financial Services (Bermuda) Investor Victims To Recover Losses
Silver Law Group founder Scott Silver and the Law Firm of David Chase have filed claims on behalf of defrauded investors in Northstar to recover their investment losses. These Northstar investors were pitched on the safety and security of Northstar’s fixed and variable rate annuity-type products by their U.S.-based brokerage firms, including Truist Investment Services, Inc. (SunTrust), Bankoh Investment Services, J.P. Morgan Securities, and Ocean Financial Services.
In a recent FINRA arbitration filing by Silver Law Group and Law Firm of David Chase on behalf of a Northstar Financial Services (Bermuda) client who lost $500,000, it is alleged that the investor’s broker at Truist Investment Services, Inc. (formerly SunTrust) engaged in negligence and negligent misrepresentation, among other violations, in failing to disclose the risks inherent in concentrating retirement savings in annuities held off-shore, and for failing to conduct adequate due diligence on Northstar’s investment products prior to sale.
Contact Silver Law Group To Recover Northstar (Bermuda) Losses
If you invested in Northstar investment products through SunTrust, Hancock Whitney, or another U.S. brokerage, please contact Silver Law Group for a confidential consultation toll free at (800) 975-4345 or email ssilver@silverlaw. We can speak with investors in English or Spanish, and can represent Northstar investor victims wherever located, including Latin America.