Ex-Customer Of Unionbanc Investment Services Broker Asako Thompson Files $500K Northstar Financial Services (Bermuda) Fraud Claim

TOKYO,May 19,2021 --AJapanese Investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Unionbanc Investment Services and its California-based broker,Asako Kanekiyo Thompson.

The claimant suffered losses in an offshore fixed-rate investment contract from Northstar Financial Services (Bermuda) that was recommended to him by Thompson.The claimant,who used to live in the United States,was a customer of Union Bank of California for a long time before he was contacted by its subsidiary,Unionbanc Investments. The firm recommended that rather than merely invest his money in checking and savings accounts,he invest inNorthstar Financial Services (Bermuda). Both the broker-dealer and Thompson reassured him that this investment was safe and very low-risk.

Misrepresentations and omissionswere made to the claimant,who should not have been exposed to an offshore product where he was getting a mere 1.5% interest rate especially when there were more comparable,lower risk US-based investments available. The investment was rolled over for many years,yet at no point did Unionbanc or Thompson remedy their investment recommendation,which was a gross mistake.Not only that,but there was a significant lack of supervision by the firm of its broker. A competent supervisor would have never approved these trades.

The claimant proceeded to lose six figures in savings while the respondents earned significant commissions and fees from Northstar (Bermuda) products.

Our Northstar Financial Services (Bermuda) attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are representing this claimant in his fight to recover up to $500K in damages. The arbitration hearing will take place in Los Angeles,California.

Northstar Financial Services (Bermuda),which filed for bankruptcy protection last year,is currently in liquidation. This is even more reason why you should retain the services of an experienced broker fraud law firm that has the resources and knowledge to pursue damages against the brokerage firms that sold you this investment.

SSEK Law Firm is currently investigating Northstar Financial Services (Bermuda) fraud cases against Truist Investment Services,J.P. Morgan Securities,Hancock Whitney Investment Services and others.

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Contact:

Kirk Smith

ksmith@sseklaw.com

US: (800) 259-9010

International via WhatsApp (Text Only): 713-227-2400

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