Investors Lawsuits Against Northstar Bermuda Surge

Sarah Komischke (Xiao Qin Komischke) Hit With $500K Northstar Financial Services Arbitration Lawsuit

Raymond James Financial Services has been slapped with a Financial Industry Regulatory Authority (FINRA) arbitration claim for losses incurred in investments in products of Northstar Financial Services (Bermuda). Former Raymond James broker Sarah Komischke, also known as Xiao Qin Komischke, has been named in the claim, as having unsuitably recommended the investment.

Profile of Sarah Komischke

Komischke is currently a Cetera Investment Services broker. Her LinkedIn profile also notes that she is now at Cathay Bank.  According to her BrokerCheck record, Sarah Komischke has worked for 13 years in the industry. Other broker-dealers where she used to be registered include Chase Investment Services, Corp., UBS Financial Services, UBS International, Merrill Lynch, Pierce, Fenner & Smith, and AXA Advisors.

The case and claim

The claimant is a foreign national who now lives in Maine. He was a client of United Nations Federal Credit Union (UNFCU) who sought safety for his assets in the United States and was mostly investing in bank products, including their savings/ checking account.

He was, strangely, recommended an annuity product that was based offshore, and out of the purview of the US legal system and the protection that comes with it. He contends that the broker claimed that Northstar was a safe investment and never shared any risks attendant to the investment.

In addition to overconcentration, breach of fiduciary duty, breach of contract, misrepresentations and omissions, unsuitable investment recommendations and gross negligence, the client has also claimed supervisory failure on the part of Raymond James. According to the claim, they had a vested interest in the sale as they collected hefty commissions for selling Northstar Financial Services (Bermuda) products.

After investing $250K in the off-shore investment, the claimant is now seeking up to $500K in damages for his losses.

Northstar Financial Services (Bermuda)

It is now widely known that Northstar Financial Services (Bermuda) has gone bankrupt and Greg Lindberg, its owner, suspected of having funneled money out from Northstar into other companies under his control, is in prison for bribery and wire fraud.

Experienced securities attorneys for legal support

If you believe you could have been adversely affected in your investment in Northstar Financial Services (Bermuda), by the actions of brokers, or have had other dealings with brokers accused of misselling in the Northstar case, Haselkorn & Thibaut investment fraud lawyers can help.

SunTrust’s Truist Investment Services, Unionbanc Investment Services, Hancock Whitney Investment Services, J.P. Morgan Securities, Bankoh Investment Services, Ocean Financial Services LLC are some of the other targets of our experienced attorneys as they represent clients seeking to recover their losses.

You can read our FAQ page for questions that investors have about Northstar Financial Services (Bermuda), or call us at 1-800-856-3352 for a free, no-obligation case consultation.


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