David L. Cheviron, 61, a former financial advisor from Jackson Township, Ohio, was sentenced recently to 38 months in prison. Cheviron embezzled $442,072 from four of his clients. Not only was Cheviron ordered to pay the entire amount back to his clients, he was also ordered to pay $85,616 to the IRS. He pleaded guilty to one count each of tax evasion and bank embezzlement.
Cheviron embezzled the money from his clients while he was a financial advisor for FirstMerit Bank, Huntington Bank, and JP Morgan Chase Bank between 2006 thru 2010. David Cheviron used the money on himself and did not report the money he had received to the IRS.
According to the federal prosecutors, Cheviron forged his clients signatures and made unauthorized withdrawals from his clients' accounts and deposited the money into his own personal account.
Soreide Law Group represents clients nationwide in arbitrations before FINRA. If you have experienced losses through your broker/financial advisor, call a Securities Arbitration Lawyer at Soreide Law Group for a free consultation on how to potentially recover your losses: 888-760-6552.
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