Attention Bankoh Investment Customers Who Were Sold Northstar Financial Services (Bermuda) Ltd
Soreide Law Group Has Filed a FINRA Arbitration Against Bankoh Investment Services, Inc., and Financial Advisor Yoko K. Farias For Selling them Northstar Financial Services (Bermuda) Ltd.
By: Soreide Law Group PLLC
The lawsuit, filed by securities arbitration firm of Soreide Law Group, alleges that BANKOH broker FARIAS offered multiple verbal and written assurances that Northstar Financial Services (Bermuda) investments were safe, secure and that they would just have to pay a small surrender fee to get their money out at anytime. Bankoh and Farias ended up investing $900,000 of the Claimant's money into two separate Northstar contracts. 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. No funds have been forthcoming on any of the Claimants' redemption requests. It is unclear why Respondents' would recommend an investment based in Bermuda when many more liquid, higher yielding and safer investments were readily available in the United States. But for the Respondents alleged assurances about their principal and interest being fully guaranteed the Claimants would have never made this categorically unsuitable investment.
The investigation of Farias and Bankoh is ongoing by Soreide Law Group and it is likely that many other customers also bought Northstar Financial Services (Bermuda) Ltd. If you lost money with any broker in Northstar Financial Services please contact Soreide Law Group today at (888) 760-6552. We represent clients nationwide in the USA and handle international clients in countries such as Japan against USA based brokerage firms and brokers.
The lawsuit filed on behalf of the Claimants accused financial Bankoh and Farias of negligence, breach of fiduciary duty, and negligent supervision. Bankoh and Farias have not yet filed an Answer to the lawsuit and it is anticipated that they will deny any wrongdoing.
The lawsuit is being arbitrated through Finra case number 20-02323. If you were a former customer of former Bankoh Investment Services and sustained substantial losses in Northstar Financial Services (Bermuda) Ltd., contact Soreide Law Group today for a free consolation. We represented 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 1 (888) 760-6552 or visit https://www.SecuritiesLawyer.com
Page Updated Last on: Jul 30, 2020