SSEK Law Firm Represents Another Bankoh Customer in Six-Figure Northstar Financial Services (Bermuda) Claim
PR94586
HOUSTON, Feb. 23, 2022 /PRNewswire=KYODO JBN/--
Another investor in Japan has filed a FINRA arbitration claim against Bankoh
Investment Services over her Northstar Financial Services (Bermuda) (
https://www.investorlawyers.com/northstar-financial-services-bermuda.html )
losses.
Logo -
https://mma.prnewswire.com/media/334439/SHEPHERD_SMITH_EDWARDS___KANTAS_LOGO.jpg
This time, the claimant is a small business owner who lives in Tokyo but had
accounts in the U.S. with Bankoh and Bank of Hawaii. Our investment fraud
lawyers at SSEK Law Firm are representing this investor in her FINRA
arbitration case, seeking up to $500k in damages.
The claimant was referred to broker Yoko Farias, based in Honolulu, by the Bank
of Hawaii. Bankoh Investment Services is a Bank of Hawaii subsidiary, and
Farias has been a financial advisor with the firm since 2001.
This investor entrusted Bankoh and Farias with her hard-earned savings. She
sought minimal risk and safe returns, which they promised her. Unfortunately,
the broker-dealer and its financial advisor abused her trust by
overconcentrating (
) a massive chunk of her assets in Northstar (Bermuda), which is now defunct.
Farias has even described these products as very safe when they are unrated and
lack many protections found in US-based products.
At the end of 2018, the company didn't meet statutory disclosures, and 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 either didn't know about any of this, or they did know and neglected to
inform the investor.
Instead, they further placed her money at risk by continuing to reassure her
that all was well with her investment and no changes needed to be made.
By September 2020, Northstar (Bermuda) could report just $8M in assets and was
said to have incurred an over $260M deficit,filing for bankruptcy (
) in December 2020.
SSEK Law Firm is working with dozens of investors against the many brokerage
firms that sold Northstar (Bermuda) products to them. Watch this interview (
) with SSEK Law Firm Attorney Kirk Smith and another former customer of Yoko
Farias.
Contact us (
) today if you believe that your broker or brokerage firm unsuitably sold you
Northstar Financial Services (Bermuda) products.
ksmith@sseklaw.com
US Toll Free +1(800) 259-9010
Internationally via WhatsApp (text only): +1-713-227-2400
Northstar Bermuda FAQs (
)
FAQ - Japanese (
)
FAQ - Chinese (
)
FAQ - Spanish (
)
SOURCE: Shepherd Smith Edwards & Kantas LLP
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