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Kyle Chapman: Ex-Clarity Advisor Lands $100K-$500K GWG Complaint
Former Clarity Capital Partners advisor Kyle Chapman (CRD# 6303483) allegedly recommended a GWG L bond investment that resulted in damages as high as $500,000, according to a recent investor complaint. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former American Trust Investment Services broker is currently registered with Foundations Investment Advisors in Henderson, Nevada.
Mr. Chapman’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of American Trust Investment Services, he breached contract and warranties, committed promissory estoppel, violated California securities statutes, and breached his fiduciary duty in connection with an investment in GWG L bonds. The pending complaint alleges damages between $100,000 and $500,000.
Records filed with a US bankruptcy court disclose at least one current or former customer of Mr. Chapman listed as a creditor for an investment in GWG L bonds. The records, filed in Texas, describe an investment of $101,833.33. More information about GWG Holdings, whose sale of L bond products has been investigated by securities regulatory authorities, can be found here.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Kyle Chapman holds eight years of securities industry experience. Based in Henderson, Nevada, he has been an investment advisor with Foundations Investment Advisors since March 2023. His past registrations include Clarity Capital Partners (Newport Beach, California; 2018-2022), American Trust Investment Services (San Clemente, California; 2020-2022), WestPark Capital (Newport Beach, California; 2018-2020), Cetera Advisor Networks (Seal Beach, California; 2017-2018), Larson Financial Securities (Orange, California; 2016-2017), and SagePoint Financial (Newport Beach, California; 2014-2015). His credentials include the passage of five securities industry qualifying exam: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 63. He is licensed as an adviser in Nevada. (Information current as of June 13, 2023.)
Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.