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On behalf of investors, Silver Law Group is investigating junk bonds offered by now-bankrupt Hornbeck Offshore Services. Hornbeck Offshore bonds were sold to clients when they held a D rating by Standard and Poor’s, the lowest rating possible. About Hornbeck Offshore Services Hornbeck Offshore Services calls itself a “leading provider of marine transportation services to exploration and production, oilfield service, offshore construction and military customers.” After struggling with low oil prices and significant debt, including debt sold to investors as bonds, Hornbeck filed for bankruptcy. In September, 2020 Hornbeck announced that it had emerged from Chapter 11 bankruptcy and completed a reorganization as a private company with a new board of directors. Investors in Hornbeck bonds lost their money.  On behalf of investors, Silver Law Group is investigating junk bonds offered by now-bankrupt Hornbeck Offshore Services. Hornbeck Offshore bonds were sold to clients when they held a D rating by Standard and Poor’s, the lowest rating possible.

About Hornbeck Offshore Services

Hornbeck Offshore Services calls itself a “leading provider of marine transportation services to exploration and production, oilfield service, offshore construction and military customers.” Continue reading ›

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Law.com and Daily Business Review interviewed Scott Silver, Silver Law Group’s managing partner, regarding a $1.8M SEC whistleblower award he helped secure for a client. The client provided crucial information that led the SEC to recover millions of dollars for investors. Scott represented the whistleblower with Boca Raton attorney James Sallah, who was also interviewed for the article. Whistleblower Complaint The whistleblower was a broker at Morgan Stanley Smith Barney when he and other brokers and financial advisors were told about the CitiFX Alpha trading program. Based on his belief that it was a sound investment, because of the false and misleading statements made to him, our client recommended the program to his clients in 2010 and 2011. His clients ended up losing a significant amount of their money, and the whistleblower later found out that the program had not been reviewed or approved by Morgan Stanley and that Citigroup had made false and misleading statements about the program’s risk. Scott Silver told the Daily Business Review (DBR) that “He was very disturbed about what he knew versus what the investors, his clients, the people who had entrusted him with their money, were seeing.”Law.com and Daily Business Review interviewed Scott Silver, Silver Law Group’s managing partner, regarding a $1.8M SEC whistleblower award he helped secure for a client. The client provided crucial information that led the SEC to recover millions of dollars for investors.

Scott represented the whistleblower with Boca Raton attorney James Sallah, who was also interviewed for the article. Continue reading ›

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Michael Martino (Michael Christopher Martino CRD#: 2579146) is a currently registered broker with Four Points Capital Partners LLC (CRD#: 43149) of New York, NY. His previous employers include Wedbush Securities Inc. (CRD#:877) of Tarrytown, NY, Brookstreet Securities Corporation (CRD#:14667) of White Plains, NY, and Emerson Bennett & Associates (CRD#:36171, expelled by FINRA in 2002) of Fort Lauderdale, FL. He has been in the industry since 1995. Michael Martino is the subject of eight disclosures, three of which are current customer disputes. The most recent dispute was filed on 6/26/2020, with allegations that indicate “between 2014-2017, reps provided unsuitable recommendations with unsuitable concentrations, with unreasonable commissions and failure to know their customer.”  The client requests damages of $543,163.00. Martino denies the allegations, calling them “baseless.”Michael Martino (Michael Christopher Martino CRD#: 2579146) is a currently registered broker with Four Points Capital Partners LLC (CRD#: 43149) of New York, NY. His previous employers include Wedbush Securities Inc. (CRD#:877) of Tarrytown, NY, Brookstreet Securities Corporation (CRD#:14667) of White Plains, NY, and Emerson Bennett & Associates (CRD#:36171, expelled by FINRA in 2002) of Fort Lauderdale, FL. He has been in the industry since 1995. Continue reading ›

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Broker Matthew Platnico (Matthew Eric Platnico CRD:#2102086) is a registered broker and investment advisor currently employed with Allied Millennial Partners, LLC (CRD#: 16569) of New York, NY. As an investment advisor he is registered with Millennial Advisers, LLC. (CRD#:170847), also of New York City. His previous employers include Arete Wealth Management, LLC (CRD#:44856), Oppenheimer & Co. INC. (CRD#:249), also of New York City, and Advest, Inc. (CRD#:10), of Hartford, CT. He has been in the industry since 1991. A client filed a dispute on 7/15/2020, alleging that Platnico representative engaged in unsuitable and unauthorized options trading in Claimant's account. The client requests damages of $1,460,000.00. The case is currently “pending.”Broker Matthew Platnico (Matthew Eric Platnico CRD:#2102086) is a registered broker and investment advisor currently employed with Allied Millennial Partners, LLC (CRD#: 16569) of New York, NY. As an investment advisor he is registered with Millennial Advisers, LLC. (CRD#:170847), also of New York City. Continue reading ›

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Whistleblower1-300x200Silver Law Group represents a Securities and Exchange Commission (SEC) whistleblower who was awarded $1.8 million by the SEC for providing information that led to the collection of millions of dollars from two brokerage firms.

The Commission said in a press release that our client, an insider, “provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of money to investors.” Continue reading ›

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Investors in Northstar Financial Services (Bermuda) are beginning to realize that their investments in the companies’ products are unlikely to deliver as promised by their financial advisers. Northstar is now in bankruptcy and investors are expected to lose a substantial percentage of their principal. Unfortunately, Northstar—which invested in insurance and investment products—has suspended monthly income payments, is unable to honor liquidation and surrender requests, and may never be in a financial position to return investors’ principal funds. Northstar utlitzed brokerage firms throughout the US to market and sell its products.  Among others, brokers at SunTrust Investment Services, Ocean Financial Services, LLC, and Bankoh Investment Services, Inc. were recommending Northstar Financial Services (Bermuda) investments. Investors have alleged that brokers were pitching Northstar Financial Services (Bermuda) investments as conservative investments that were similar to bank CDs.  Allegations include promises of guaranteed monthly income and no risk of loss of principal.Investors in Northstar Financial Services (Bermuda) are beginning to realize that their investments in the companies’ products are unlikely to deliver as promised by their financial advisers. Northstar is now in bankruptcy and investors are expected to lose a substantial percentage of their principal. Continue reading ›

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Silver Law GroupSilver Law Group is speaking with investors who have suffered losses investing in Northstar Financial Services (Bermuda) after their SunTrust brokers recommended the investment.  Since purchasing Northstar Financial Services investments, investors have experienced suspended monthly income payments, illiquidity and inability to surrender policies, and have lost virtually the entirety of their investments due to Northstar Financial Services’ recent collapse. Investors have alleged that their SunTrust financial advisors pitched Northstar Financial Services (Bermuda) as a safe, stable investment product comparable to a bank CD.  Allegations include that SunTrust financial advisors promised guaranteed monthly returns as well as protection of principal.  Unfortunately, this did not pan out to be true, as Northstar Financial Services (Bermuda) is on the verge of insolvency, and its owner, Greg Lindberg, has been convicted of fraud and bribery. What Is Northstar Financial Services (Bermuda) Ltd.? Northstar Financial Services offers investment and annuity products.  The company is based in Bermuda and purports to offer various benefits, including tax shelters, not available for US-based investments.  Northstar Financial Services offers a wide range of fixed-rate and variable-rate investment, insurance, and/or annuity products, including, but not limited to: Global Interest Accumulator Global Advantage Plus Series Global Advantage Select Global VIP Elite Global Index Product is speaking with investors who have suffered losses investing in Northstar Financial Services (Bermuda) after their SunTrust brokers recommended the investment. Since purchasing Northstar investments, investors have experienced suspended monthly income payments, illiquidity and inability to surrender policies, and have lost virtually the entirety of their investments due to Northstar Financial Services’ recent collapse. Continue reading ›

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Silver Law Group is investigating possible claims related to investments in a variety of investment and insurance products offered by Northstar Financial Services (Bermuda) Ltd. Some of the investments offered by Northstar Financial Services (Bermuda) include, but are not limited to: Global Interest Accumulator Global Advantage Plus Series Global Advantage Select Global VIP Elite Global Index Product Northstar Financial Services investments were sold by various financial advisors, have experienced suspension of monthly income payments, prolonged illiquidity, and have lost nearly the entirety of their value due to the recent collapse of Northstar Financial Services. Background On Northstar Financial Services (Bermuda) Ltd. Northstar Financial Services was established in the late 1990s to offer fixed-rate and variable-rate investment and annuity products while based in Bermuda, offering supposed tax benefits in comparison to—for example—certain US-based investment products.Silver Law Group is investigating possible claims related to investments in a variety of investment and insurance products offered by Northstar Financial Services (Bermuda) Ltd. Some of the investments offered by Northstar Financial Services (Bermuda) include, but are not limited to:

  • Global Interest Accumulator
  • Global Advantage Plus Series
  • Global Advantage Select
  • Global VIP Elite
  • Global Index Product

Continue reading ›

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William Friedman (William Sidney Friedman CRD#: 2475502) is a former registered broker and investment advisor whose last known employer was Pinnacle Investments, LLC (CRD#:142910) of Boca Raton, FL. His previous employers include Woodstock Financial Group, Inc. (CRD#:38095), Newbridge Securities Corporation (CRD#:104065), and Brookstreet Securities Corporation (CRD#:14667), all of Boca Raton. He has been in the industry since 1994. Friedman is the subject of four disclosures, two of which are customer disputes. The most recent client dispute was filed on 11/20/2015, alleging that Friedman “pursued an inappropriate equity trading strategy which resulted in losses on the account. Client also indicated the rep exercised discretion over the account, breached his fiduciary responsibilities and suitability obligations.” The client requested damages of $50,000, and the firm settled the claim for $10,000. An additional note indicates that the original written complaint was denied earlier in the year, and became an arbitration case.William Friedman (William Sidney Friedman CRD#: 2475502) is a former registered broker and investment advisor whose last known employer was Pinnacle Investments, LLC (CRD#:142910) of Boca Raton, FL. His previous employers include Woodstock Financial Group, Inc. (CRD#:38095), Newbridge Securities Corporation (CRD#:104065), and Brookstreet Securities Corporation (CRD#:14667), all of Boca Raton. He has been in the industry since 1994. Continue reading ›

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