A Japanese investor and her securities attorney were interviewed by The Royal Gazette about the losses she and her husband suffered from investing in Northstar Financial Services (Bermuda). This is a now-defunct offshore entity that is currently in liquidation proceedings.
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The investors, Rikan Nishiyama and her husband are both elderly retirees. They invested $200K in Northstar (Bermuda) at the recommendation of Bankoh Investment Services financial advisor Yoko Farias. Bankoh Investment Services is a Bank of Hawaii subsidiary.
Our Northstar Financial Services (Bermuda) investment lawyers are representing the Nishiyamas in their FINRA arbitration claim against Bankoh Investment Services to pursue damages for the losses they suffered.
SSEK Law Firm Senior Partner Kirk Smith took part in The Royal Gazette interview with Mrs. Nishiyima, who was accompanied by a translator.
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Mrs. Nishiyama and her husband contend that they were blindsided to discover that they may have lost all of their investment in Northstar (Bermuda). Especially as their Bankoh broker had told them, both verbally and through literature presented, that their funds would be kept safe. Additionally, Bankoh Investment Services had neglected to tell them that the company’s owner, Greg Lindberg was indicted in 2019 and then convicted of wire fraud and bribery in 2020.
While the Nishiyamas are still hoping to recover some of their investment through the liquidation proceedings, a full recovery through this avenue is unlikely especially as Lindberg is suspected to have funneled funds from Northstar Financial Services (Bermuda) to other entities.
The company has also reported a $260M deficit. This is why the couple has chosen to file a FINRA arbitration claim against Bankoh. They understand that going after the brokerage firm is their best chance of maximizing their financial recovery.
Mrs. Nishiyama said that the financial harm they’ve suffered because their Bankoh Investment Services broker recommended Northstar Financial Services (Bermuda) has taken a toll on both her health and the health of her husband.
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