National investment loss attorneys KlaymanToskes issues an important notice to investors whose broker or investment advisor may have recommended investing in Colorado Bankers Life Insurance or other related annuities.
If you invested in any of the following insurance companies, you may be eligible for financial recovery:
These companies, which held annuities for approximately 262,000 policyholders, were part of Greg Lindberg’s financial scheme, which collapsed amid allegations of fraud and regulatory violations. Investors left with frozen annuities due to regulatory actions and court-ordered liquidation may be entitled to compensation. Call KlaymanToskes at (888) 997-9956 for a free and confidential consultation to discuss potential recovery options.
Greg Lindberg, a former private-equity executive, was released from prison in 2022 after serving nearly two years for attempting to bribe North Carolina Insurance Commissioner Mike Causey. He is currently facing new fraud charges and is set for retrial.
Lindberg allegedly used Global Bankers Insurance Group to funnel funds between his various entities, misleading regulators and investors about the financial health of his companies.
Brokers selling Colorado Bankers Life annuities may have withheld publicly available information about Greg Lindberg’s legal troubles and the financial instability of his insurance companies. Had investors been properly informed, they could have allegedly avoided significant financial losses.
A recent FINRA arbitration case against Citizens Securities awarded an elderly retiree $152,382.41 in compensatory damages and $48,762.37 in attorneys’ fees, holding Citizens Securities accountable for promoting Colorado Bankers Life annuities without adequate disclosures.
Citizens Securities and other brokerage firms allegedly incentivized brokers with high commissions to sell these annuities while failing to warn clients about Lindberg’s legal and regulatory troubles. When North Carolina regulators seized assets from Colorado Bankers Life, investors were left without access to their funds.
If you invested in Colorado Bankers Life or any related insurance companies, contact KlaymanToskes at (888) 997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. KlaymanToskes offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we obtain a financial recovery for you.