A Jackson Township financial adviser pleaded guilty Thursday to embezzlement and tax evasion stemming from a scheme in which he defrauded clients of more than $442,000, according to federal investigators.
A Jackson Township financial adviser pleaded guilty Thursday to federal embezzlement and tax evasion charges tied to a scheme in which he defrauded clients out of more than $442,000, according to federal investigators.
David L. Cheviron, 61, was a financial accountant for FirstMerit Bank, Huntington Bank and Chase Bank from 2006 to 2010, during which time authorities say he defrauded the banks and stole money from four clients, according to the U.S. Attorney’s Office in Cleveland.
Cheviron is scheduled to be sentenced in U.S. District Court in Cleveland on Nov. 15. The defendant has been referred to the federal probation department for a presentence report.
The charges are a result of a joint investigation conducted by the FBI and the Internal Revenue Service.
Federal prosecutors said financial consultant Cheviron made unauthorized withdrawals from the investment accounts of the four clients and forging signatures to deposit money into his personal account. He is also accused of failing to report the money received on federal tax returns.