Soreide Law Group Files a FINRA Arbitration Claim Against Ocean Financial Services, LLC

FINRA Arbitration Filed Against Financial Advisor, Maria Calcena, and Ocean Financial Services, LLC, Claiming Dramatic Losses in Northstar Financial Services (Bermuda) Ltd.
By: Soreide Law Group PLLC
POMPANO BEACH, Fla. - April 27, 2020 - PRLog -- Investors have hired the securities arbitration law firm, Soreide Law Group, to recover their more than $245,000 in losses from investments allegedly made through Ocean Financial Services, LLC, and Maria Calcena ("Calcena"), who is currently employed in Miami, Florida. The Claimant, who was originally a banking client of Ocean Financial, was assigned Calcena as her financial advisor and who was, according to the lawsuit, looking for the most conservative investments. Maria Calcena allegedly presented to the Claimant, Northstar Financial Services (Bermuda) Ltd. ("Northstar") investment and according to the lawsuit, the Claimant allegedly understood it to be something akin to a money market account.

Ocean Financial broker, Maria Calcena, allegedly recommended that on or about April 2016, the Claimant invest $50k in a five-year contract yielding 2.85%, and $195,000 in a 7 year contract yielding 3.35% with Northstar Financial Services (Bermuda) Ltd.  The Claimant allegedly was offered multiple verbal assurances that the investments were safe, secure, and totally liquid and that she would just have to pay a small surrender fee to get her money out at anytime.

According to the lawsuit, upon information and belief, Ocean Financial and Calcena, allegedly invested $245,000 of the Claimant's money into what may prove to be a total loss by Northstar. After numerous attempts to try and redeem her funds, the last correspondence she received from Ocean Financial regarding Northstar stated, "In late 2018 Northstar was acquired by North Carolina-based conglomerate called Global Bankers. This company was ultimately owned by Greg Lindberg. Mr. Lindberg was subsequently indicted on corruption charges in his home state of North Carolina in early 2019... the purpose of this letter is to inform you that Ocean Financial Services recently contracted legal counsel in Bermuda, where Northstar is based, to advocate on behalf of its customers and to demand the full and immediate disbursement of all pending "in good order" redemption requests."

According to the lawsuit, the Claimant has been trying to redeem her funds since 2019 and requested a full surrender. No funds have been forthcoming on any of the Claimant's requests. The investigation of Maria Calcena and Ocean Financial is ongoing by Soreide Law Group but it is likely that many other customers also bought Northstar Financial Services (Bermuda) Ltd. If you've lost money with any broker in Northstar Financial Services please contact Soreide Law Group today at (888)760-6552.

The lawsuit filed on behalf of the Claimants, accused Ocean Financial and Maria Calcena, of alleged negligence, breach of fiduciary duty, negligent supervision and violation of Florida's Investor Protection Act. Ocean Financial and Maria Calcena have not yet filed an answer to the lawsuit but deny any wrongdoing.

The lawsuit is being arbitrated through FINRA, case number 20-01130. If you were a former customer of the former Ocean Financial Services LLC, Maria Calcena, and sustained substantial losses in Northstar Financial Services (Bermuda) Ltd., contact the South Florida-based Soreide Law Group today for a free consolation. We represent investors nationwide through the FINRA Dispute Resolution Forum and only get paid out of the successful settlement or award proceeds should we able to recover your losses. For more information call (888) 760-6552 or visit
Source:Soreide Law Group PLLC
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Tags:Ocean Financial Services
Location:Pompano Beach - Florida - United States
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