Northstar (Bermuda) Investor Files Complaint Against Gonzalo Angel Ruiz of Ocean Financial Services

March 6, 2023

KlaymanToskes Has Recovery Options for Northstar Financial Services (Bermuda) Investors

National investment fraud lawyers KlaymanToskes continues its investigation of brokerage firms and financial advisors that sold Northstar Financial Services (Bermuda) Ltd. Recently, a Hondurian investor filed a complaint against Gonzalo Angel Ruiz of Ocean Financial Services alleging that the Miami, Florida-based broker and investment advisor misrepresented the risks of Northstar (Bermuda), an unsuitable investment that resulted in their portfolio’s overconcentration and investor damages of $950,000.

Affected investors are encouraged to contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss their recovery options regarding investment losses in PB Investment Holdings, Omnia, Ltd., PB Life and Annuity, and/or any other Northstar products. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

Inversores afectados son alentados a contactar al abogado Lawrence L. Klayman para una consulta gratis en (787)-398-6866 o lklayman@klaymantoskes.com para discutir sus opciones de recuperación con respecto a las pérdidas de inversión en PB Investment Holdings, Omnia, Ltd., PB Life and Annuity y/o cualquier otro producto de Northstar. No cobramos honorarios de abogado a menos que podamos obtener una recuperación financiera para usted.

Gonzalo Angel Ruiz Client Alleges $950k in Northstar Damages

According to FINRA BrokerCheck Gonzalo Angel Ruiz is currently registered as a broker and investment advisor with Ocean Financial Services in Miami, FL located at 780 NW 42nd Avenue. Ruiz is also the Senior Vice President of Ocean Bank in Miami, FL and was previously the President/Owner of Intercontinental Financial Group.

Ruiz has one disclosed investor complaint which alleges the risks of offshore investment products (Northstar) were misrepresented and that the investment was unsuitable for the investors, which also resulted in an over-concentration in their portfolio. The complaint is currently pending and alleges investor damages of $950,000.

Who Invested in Northstar Financial Services (Bermuda)?

Northstar Financial Services (Bermuda), founded in the 1990’s, was a Segregated Accounts Company regulated by the Bermuda Monetary Authority that promoted its fixed and variable annuity products as offering segregated account protection, generous liquidity terms and a variety of commitment periods, as well as the benefits of a Bermuda trust structure. Many Northstar investors were from Mexico, South America, Japan, and China. 

KlaymanToskes has assisted investors throughout the world, including Latin America and Japan, in recovering their investment losses. Brokerage firms and their financial professionals have a responsibility to conduct due diligence to ensure an investment is suitable before recommending it to their customers. Our firm can help you determine if your investment loss is due to a securities violation such as unsuitability, misrepresentation of material facts, a breach of fiduciary duty, securities concentration/failure to diversify, and/or negligence

Northstar Financial Services (Bermuda) Products

  • Global Advantage
  • Global Advantage III, V
  • Global Advantage Select
  • Global Interest Accumulator
  • Global Investment Plan
  • Global Index Protect
  • Global Variable Annuity
  • Global VIP
  • Global VIP Elite
  • Met Group Variable Deferred Annuity
  • Met Global Asset Portfolio
  • Met Universal Life
  • Met Variable Universal Life

Recover Northstar (Bermuda) Investment Losses

While Northstar and its entities are now defunct, investors may recover their losses by pursuing FINRA arbitration against the brokerage firms and financial advisors who sold these investments.

SEC Regulation Best Interest (Reg BI) requires brokerage firms and their financial advisors to make recommendations with their client’s best interest in mind, based upon the client’s financial needs, age, employment status, and investment objectives.

Our investment fraud attorneys are ready to discuss recovery options with you. If you suffered losses in Northstar (Bermuda) and/or any of its related entities, contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lklayman@klaymantoskes.com.

Si no hablas Ingles tenemos gente lista para ayudarte, llama (787)-398-6866 o utiliza nuestro correo electrónico lklayman@klaymantoskes.com para discutir tus opciones de recuperación. 

See Our Related Blog Post: “Attention Beechwood Bermuda Investors: Cetera Investment Services Brokers Named in Over $5M in Customer Complaints

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.


KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.