Did Former Cetera Investment Services LLC Broker Linda Fang Recommend You Invest in Northstar Financial Services (Bermuda) Ltd.?
Posted on Monday, May 10th, 2021 at 7:18 pm
Erez Law is currently investigating former Cetera Investment Services LLC broker Ching-Yun Linda Fang (Linda Fang) (CRD# 1843163), who is alleged to recommend Northstar Financial Services (Bermuda) Ltd., a Bermuda-based annuity and life insurance company that serves the needs of high net worth clients around the globe.
Fang allegedly recommended Northstar Financial Services (Bermuda) Ltd. to her clients as a safe investment for conservative investors; however, Northstar Financial Services (Bermuda) Ltd. has suspended monthly income distributions as of 2020. It is also reported that it is not likely that Northstar Financial Services (Bermuda) Ltd. will have enough assets to pay back the full amount owed to fixed-rate contract holders.
Fang was registered with Cetera Investment Services LLC in City Of Industry, California from 2015 to 2018.
Fang has been the subject of one customer complaint, according to her CRD report:
December 2019. “The client alleges the features of the investment product were misrepresented.” The customer is seeking $2,300,000 in damages and the case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cetera Investment Services LLC may be liable for investment or other losses suffered by Fang’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.