Texas has revoked the license of an investment advisor, claiming he impersonated ex-clients at a former employer to gain account balances and monthly contribution amounts, the Texas State Securities Board said Thursday.
Using methods the board called “more vaudeville than high tech,” Lloyd James Chappell’s tactics, the board said, included imitating the voice in English of a predominately Spanish-speaking female past customer when he called his former employer, Park Avenue Securities, to get information about her assets.
Chappell, of Garland, Texas, worked for Park Avenue from 2000 until 2013.
Shortly after he left, the regulator said Chappell started mimicking the voices of former customers when calling the company and attempted to obtain account balances armed with their Social Security numbers and birth dates. After leaving Park Avenue, he joined BFT Financial Group in Bedford, Texas.