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SSEK Regulation Agency Represents Central American Retiree Who Suffers Six-Determine Loss After Truist Funding Companies Unsuitably Recommends Northstar Monetary Companies (Bermuda)

Share this…FacebookPinterestTwitterLinkedin BOCA RATON, Fla., Sept. 28, 2021 /PRNewswire/ — An aged Venezuelan investor is looking for six figures in damages…

By Staff , in Investments , at September 28, 2021

BOCA RATON, Fla., Sept. 28, 2021 /PRNewswire/ — An aged Venezuelan investor is looking for six figures in damages from Truist Funding Companies (aka SunTrust Funding Companies) over losses he suffered in Northstar Monetary Companies (Bermuda). The claimant contends that the agency overconcentrated his account by closely investing his life financial savings on this off-shore entity, which is now present process liquidations proceedings after submitting for chapter. 

That is one in every of various FINRA arbitration claims that our Northstar Monetary Companies (Bermuda) attorneys at Shepherd Smith Edwards and Kantas (SSEK Regulation Agency at have filed towards Truist Funding Companies and different US-based brokerage corporations for unsuitably advertising Northstar (Bermuda). 

The claimant, who’s retired, had regarded to the US as a secure haven for his property due to the financial turmoil within the area the place he lives. He initially solely had a checking account with SunTrust Financial institution in Miami, which held his lifetime of financial savings. SunTrust proceeded to refer this buyer to Truist Funding Companies, whose monetary advisor then concentrated the investor’s funds in a Northstar (Bermuda) fixed-contract annuity. 

The Truist dealer reassured him that this was a product that match his investing objectives. A easy department audit may have simply recognized that Northstar Monetary Companies (Bermuda) was not a very good match for this specific investor.

 In 2019, this investor tried to redeem his funding in Northstar (Bermuda) and have his funds deposited in a checking account. It was then that the Bermuda entity notified him by letter that his property had been frozen as a result of redemptions had exceeded free money movement.

This Truist buyer then spoke to his monetary advisor, who falsely informed him that though there have been liquidity points the issue would resolve. Contemplating that Northstar Monetary Companies (Bermuda) proprietor Greg Lindberg was indicted earlier that 12 months, it’s stunning that the broker-dealer did not do extra to assist this investor get out.

SSEK Regulation Agency represents traders all through the world in pursuing their Northstar Monetary Companies (Bermuda) losses from the US-based broker-dealers and monetary advisors who unsuitably bought them investments in:

  • International Benefit Choose
  • International Index Product
  • International Benefit Plus Collection
  • International Curiosity Accumulator
  • International VIP Elite
  • PB Funding Holdings 

Contact our expert funding fraud attorneys immediately at (800) 259-9010 or internationally, by way of WhatsApp (textual content solely) at 713-227-2400.

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SOURCE Shepherd Smith Edwards & Kantas LLP

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