DAYTON — A former investment advisor from Xenia has been sentenced to prison and ordered to pay more than $300,000 dollars in restitution for Social Security fraud and making false statements related to stealing money from an area church.
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Charles Severt, Jr., 52, was sentenced to two years in prison for stealing more than $370,000 in Social Security disability benefits and making false statements related to stealing $20,000 from a Xenia church. His sentencing came 11 months after he was arrested and indicted in March 2021.
Severt stated that he had not worked since 2010 as the result of a shooting when applying for disability benefits, according to court documents. It was learned that Severt had been working since at least 2014 in the tree trimming business.
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While under oath, Severt also said his license as an investment advisor was suspended for not reporting income from flipping houses, but court documents showed the Financial Industry Regulatory Authority banned him for life for stealing $20,000 from a Xenia church.
Severt was ordered to pay more than $370,000 in restitution as part of his sentence, according to a release.
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