Northstar Financial Services (Bermuda), Ltd: Investment Loss Recovery

Last Updated: March 2, 2022

INVESTORS: The Sonn Law Group is currently representing investors whose financial advisors/brokerage firms recommended investments in Northstar Financial Services (Bermuda), Ltd, which is in liquidation.

JUMP TO: Investor FAQ’s Regarding Northstar Financial (Bermuda)

Northstar (Bermuda) was acquired by Global Bankers in 2018. Greg Lindberg, the owner of Global Bankers, was subsequently indicted in 2019 and convicted of bribery and wire fraud in 2020.

Currently, Northstar Bermuda is in liquidation and the company has stated that investors’ returns will not be forthcoming.

Many brokerage firms in the United States sold Northstar (Bermuda) products to their customers. If your financial advisor or broker recommended these investments to you, we can help you by evaluating whether those recommendations were unsuitable and/or whether your broker misrepresented the investment. If we find evidence of either, we may be able to file a claim against your brokerage firm to pursue damages.

If you were sold investments in Northstar Financial Services (Bermuda), Ltd., complete the short form below – or call our law office anytime at 305-912-3000 – for a free consultation to discuss your options

Answers to FAQs: Northstar Financial (Bermuda) Investors

Why Do I Need a Lawyer? Won’t the Receiver Get My Money Back?

The liquidation trust for Northstar Bermuda believes that investors will receive no more than 13 cents on the dollar.

An investment loss law firm like Sonn Law Group can help you recover compensation by filing a complaint against your brokerage firm. For example, if we are able to identify evidence that your investment in Northstar Financial (Bermuda) was unsuitable, or that the opportunity was misrepresented by your advisor or brokerage firm, we can file a FINRA arbitration claim in order to pursue further monetary damages.

What Brokerage Firms Sold Investments in the Northstar Bermuda?

At this time it’s not possible to account for every single registered brokerage firm that sold investments in Northstar Bermuda. However, we do know that, based on public record, at least the following firms did:

If you don’t see your brokerage firm on this list, that doesn’t mean they didn’t invest your money in Northstar Financial Bermuda. Contact our law firm anytime for a free consultation.

What is Financial Services (Bermuda), Ltd.?

Northstar is a financial services company based in Bermuda. The company offered a variety of annuities and other investment products, which became popular with conservative investors.

According to investors, financial advisors touted the Northstar (Bermuda) products as safe and low risk and guaranteed monthly income with principal protection. The investments were also advertised as providing extra tax benefits. Despite these assurances, these investments turned out to be risky and speculative offshore investments that did not offer the level of safety and security advertised by the financial advisors.

Northstar (Bermuda) was acquired by Global Bankers in 2018. Greg Lindberg, the owner of Global Bankers, was subsequently indicted in 2019 and convicted of bribery and wire fraud in 2020. Following Lindberg’s conviction, many Northstar (Bermuda) investors have sought ways to liquidate their investments.

Product names of Northstar (Bermuda)’s investments include:

• Global VIP Elite
• Global Advantage Plus Series
• Global Index Product
• Global Advantage Select
• Global Interest Accumulator

Northstar (Bermuda) entered liquidation proceedings in a Bermuda court of law. The Court appointed Joint Provisional Liquidators, who disclosed that as of May 2020, policyholders of Northstar (Bermuda) requested surrenders of approximately $73 million, while Northstar (Bermuda) had approximately $8.2 million in cash on hand.

How do I Know if I Can Hold My Financial Advisor Accountable for Losses in Northstar Bermuda?

The best way to know for sure is to get a free consultation with a securities lawyer at Sonn Law Group.

Financial advisors have an obligation to their clients to conduct due diligence on an investment prior to recommending that investment to their clients. Financial advisors also owe their clients a duty to only recommend investments that are suitable for the client after consideration of the individual’s investment objectives and financial situation. If your financial advisor violated these obligations, you may be entitled to recover for your losses.

Sonn Law Group May be Able to Help You Recover Maximum Compensation

The Sonn Law Group is currently representing investors who have experienced significant losses in Northstar Financial Services (Bermuda), Ltd. We represent investors in claims against negligent brokers and brokerage firms.

If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us at 305-912-3000 or complete our contact form.