Law firm SSEK represents another Bankoh client in a six-figure claim from Northstar Financial Services (Bermuda)
HOUSTON, February 23, 2022 /PRNewswire/ — Another investor in Japan filed a FINRA arbitration request against Bankoh Investment Services regarding its Northstar financial services (Bermuda) losses.
This time, the plaintiff is a small business owner who lives in Tokyo but had accounts in the United States with Bankoh and Bank of Hawaii. Our investment fraud attorneys at SSEK Law Firm are representing this investor in his FINRA arbitration case, seeking up to $500,000 in damages.
The claimant was referred to a broker Yoko Fariassituated at Honoluluby the Bank of Hawaii. Bankoh Investment Services is a bank of Hawaii subsidiary, and Farias has been the firm’s financial advisor since 2001.
This investor entrusted Bankoh and Farias with his hard-earned savings. She was looking for minimal risk and safe returns, which they had promised her. Unfortunately, the broker and his financial advisor abused his trust by concentrating a large part of his assets in Northstar (Bermuda), now extinct. Farias even described these products as very safe when unrated and lacking many of the protections found in US-based products.
At the end of 2018, the company was not in compliance with legal obligations and the owner Greg Lindberg was later convicted of wire fraud and bribery in 2020. This made it clear that Northstar Financial Services (Bermuda) was in trouble. Bankoh and Farias knew none of this, or they did and neglected to inform the investor.
Instead, they put her money at greater risk by continuing to reassure her that everything was fine with her investment and that no changes were needed.
By September 2020North Star (Bermuda) could just signal $8 million of assets and would have incurred more than $260 million deficit, filing for bankruptcy in December 2020.
Law firm SSEK is working with dozens of investors against the many brokerage firms that sold Northstar (Bermuda) products for them. Watch this interview with the lawyer from the law firm SSEK Kirk Smith and another former client of Yoko Farias.
contact us today if you think your broker or brokerage firm missold you Northstar Financial Services (Bermuda) some products.
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SOURCE Shepherd Smith Edwards & Kantas LLP