National investment fraud lawyers KlaymanToskes continues its investigation of Northstar Financial Services (Bermuda) Ltd. after its February 2023 update to shareholders was released, stating that the Supreme Court of Bermuda has now listed its substantive hearing for its Segregation Application as occurring from April 24th to May 2nd, 2023.
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.
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.
According to the segregation hearing update, lead counsel for the joint provisional liquidators (“JPLs”), the Class Representatives, and the Amicus Curiae will be present in the court. Additionally, the update stated that the JPLs have filed a lawsuit in the US Bankruptcy Court, Southern District of New York, against Northstar (Bermuda) owner Greg Evan Lindberg, his company Global Growth Holdings, Inc., and other entities.
Lindberg, who acquired Northstar Financial Services in 2018, was convicted of wire fraud and bribery in October 2020 in connection with allegations that he funneled funds from his other insurance and annuity companies to Northstar. Lindberg is currently out of prison awaiting a retrial and is also facing other charges.
Omnia, Ltd. – Also doing business as Beechwood Bermuda, Beechwood Omnia, Old Mutual
Products: Guaranteed Rate Plan
Guaranteed Index Plan
Universal Investment Plan
PB Investment Holdings – Variable and fixed rate annuity products
PB Life and Annuity – Insurance/annuity products
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 foreign nationals from Mexico, South America, Japan, and China. KlaymanToskes has assisted investors throughout the world, including Latin America and Japan, in recovering their investment losses. Our firm can help you determine if your investment loss is due to a securities violation such as unsuitability, misrepresentation, breach of fiduciary duty, failure to supervise, and/or negligence.
While Northstar and its entities are now defunct, investors can recover their losses by pursuing FINRA arbitration against the brokers 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 Posts: “Attention Beechwood Bermuda Investors: Cetera Investment Services Brokers Named in Over $5M in Customer Complaints”
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.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com