A former Registered Principal with Chase Investment Services Corp, in Brunswick, OH, was caught converting clients' funds for personal use. FINRA found that David Cheviron of Ohio misappropriated over $75,000 from at least three customers.

In one instance, Cheviron apparently withdrew over $53,000 from a customer's bank account and, in an effort to throw off authorities, he went to another branch to deposit the funds in his own personal account.  After the theft was discovered, the member firm reimbursed the customer - Cheviron has yet to pay his former employer back.

In other instances, Cheviron convinced 2 customers to sign distribution requests to an insurance company that instructed fixed annuity payments to be mailed to Cheviron’s attention at several banks and to his personal residence.  He deposited about $22,000 worth of checks into his personal accounts.  Cheviron tried to cover up these misappropriations by providing one customer with a fake account statement

Cheviron was barred from the industry.  This is FINRA Case #2010022831701.   [Disciplinary Actions for August 2011]