April 29, 2024
Northstar Financial Services (Bermuda) offered fixed and variable rate financial products to investors. Although Northstar Financial was an offshore company that did not offer the same safety protections as similar companies based in the U.S., and carried considerable financial risk, many brokerage firms and financial advisors recommended Northstar Financial Bermuda to their investment clients, despite it being beyond their risk tolerance. Bermuda financial regulations are notoriously lax compared to their U.S. counterparts.
However, in 2018 Northstar Financial Bermuda was sold to a Bermuda holding company, the owner of which was subsequently indicted by the U.S. Department of Justice for bribery and federal wire fraud. He is now serving a multi-year sentence in federal prison. Investors soon attempted to liquidate their holdings, but Northstar Bermuda found themselves unable to cover those liquidation requests, and eventually filed for Chapter 15 bankruptcy.
As a result of the Northstar Financial Services Bermuda Liquidation, many investors suffered staggering financial losses.
Can you recover your Northstar Financial Services Bermuda financial losses?
If you’ve suffered significant financial losses from investing with Northstar Financial Services, it may be possible to recoup all or some of your losses from the stockbroker or financial advisor that harmed you.
What’s your first step in recovering Northstar Financial Bermuda financial losses?
Seek legal help from experienced securities litigation attorneys who are skilled in dealing with brokerage firms and financial advisors who have committed investment fraud and/or broker negligence. Keep in mind that there are various statutes of limitations and eligibility rules that may be in play, so don’t delay in contacting attorneys who are ready to help you recover your losses.
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