Soreide Law Group has represented over twelve Northstar Financial Services (Bermuda) investors and has several cases still pending against: SunTrust, BB&T, and Ocean Financial.
Another broker/dealer brought to our attention is ROBIN VAIL PLATT who is currently registered with HANCOCK WHITNEY INVESTMENT SERVICES INC. of Covington, Louisiana. Allegedly, ROBIN VAIL PLATT, a registered representative with HANCOCK WHITNEY INVESTMENT SERVICES was marketing Northstar Bermuda to several Latin American clients. It is alleged that certain clients may not have been made aware of the risks involved with this product and this investment may have been unsuitable for their portfolios.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ROBIN VAIL PLATT, (also known as ROBIN PLATT, ROBIN LYNN VAIL PLATT, ROBIN VAIL-PLATT) CRD#: 2584058, has been in the securities industry for 22 years and was listed with 8 firms. Platt has been listed both as a broker and a financial advisor with HANCOCK WHITNEY INVESTMENT SERVICES since May of 2013. There are 4 disclosures listed on Platt’s FINRA CRD report.
In May of 2021, there was a customer dispute filed against ROBIN VAIL PLATT, alleging, “The customer alleges that the NorthStar annuities that were recommended for him in 2016 were unsuitable and that certain information regarding NorthStar‘s products was misrepresented. The Firm and the Advisor dispute these allegations and note that any issues concerning NorthStar’s ability to meet its contractual obligations arose after the sale of the annuities and were caused entirely by the actions and misconduct/mismanagement of new NorthStar ownership.” This dispute is pending. The requested damages are $1,250,000.00.
Many broker/dealers sold Northstar Financial Services (Bermuda) by presenting it to their clients as a safe, secure, and totally liquid investment. These broker/dealers often earned high commissions from selling this offshore product to their clients. The clients may have been drawn to this investment due to the tax benefits from an investment based in Bermuda. Many investors may have been promised a low-risk and conservative investment, when in fact it was not. Northstar Bermuda suspended monthly income distributions as of 2020, and investors are also dealing with significant losses due to the company filing for bankruptcy and the criminal conviction of owner, Greg Lindberg. Even though investors may not get their money back from Northstar Bermuda, they may be able to file claims against the financial institutions that recommended and sold Northstar Financial Services (Bermuda).
If you were sold Northstar Bermuda by ROBIN VAIL PLATT with HANCOCK WHITNEY INVESTMENT SERVICES INC. of Covington, Louisiana, or any other broker/dealer, and suffered significant losses, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.