ATTENTION Bank of Hawaii Investment Customers Who Were Sold Northstar Financial Services (Bermuda) Ltd.

The FINRA arbitration, filed by Soreide Law Group in July of 2022, alleges that Bankoh Investment Services broker Wanistha Bahar offered assurances that Northstar Financial Services (Bermuda) investments was safe, secure and they would be able to get their money out at anytime. Attorney, Lars Soreide, who is representing the Claimant believes that Northstar Global Advantage V was not a suitable or safe investment as presented to the Claimant for a number of reasons, including but not limited to: 1) Northstar was not rated by any of the rating agencies, 2) Northstar produced less than $20 million in revenues annually, and 3) no audits were submitted in 2018 or 2019, which were required by the Bermuda Monetary Authority, yet the investment was still sold to the Claimant. 

The Japanese Investors have hired the securities arbitration law firm Soreide Law Group to recover their more than $150,000 in losses from investments made through Bankoh Investment Services, Inc. (“Bankoh”), and Wanistha Bahar (“Bahar”) located in Honolulu, Hawaii. The Claimant which is an estate of a decedent, was originally a banking client of Bank or Hawaii, and was sold a Northstar Financial Services (Bermuda) Ltd. (“Northstar”) Global Advantage V investment contract to what the Claimant understood to offer full principal protection.

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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.

The lawsuit filed on behalf of the Claimants accused financial Bankoh and Bahar of negligence, breach of fiduciary duty, and negligent supervision. Bankoh and Bahar have not yet filed an Answer to the lawsuit and it is anticipated that they will deny any wrongdoing.

Soreide Law has recovered millions of dollars for Northstar Financial victims from multiple firms and has previously filed over ten (10) FINRA arbitrations on behalf of Northstar Bermuda victims.

If you were a former customer of former Bankoh Investment Services and sustained substantial losses in Northstar Financial Services (Bermuda) Ltd., or any brokerage firm, contact Soreide Law Group today for a free consolation.