A Texas investment company leader just got hit with an 11-year federal prison sentence for running a Ponzi scheme that ripped off 64 victims, including none other than Kansas City Chiefs tight end Travis Kelce. U.S. District Judge Zachary Bluestone laid down the law on Tuesday, also ordering Siddharth Jawahar, 38, to pay a massive $31.35 million in restitution to everyone he defrauded. Talk about getting burned.
The Million-Dollar Scam That Funded Luxury and Lies
So here’s the deal: Jawahar, the brains behind Swiftarc Capital LLC, ran this whole scheme from July 2016 all the way to December 2023. Prosecutors in the U.S. Attorney’s Office for the Eastern District of Missouri stated he took in more than $35 million from investors. You’d think he’d be putting that cash to work, right? Nope. He only invested a measly $10 million of it. The rest? He used money from new, unsuspecting investors to pay back older ones. And for himself? An absolutely extravagant lifestyle, complete with luxury apartments in places like New York City and Austin, Texas, private jet travel, and all sorts of expensive outings. That’s some serious greed right there.
Even Travis Kelce Got Burned, And The Scammer Tried To Get Away With More
It’s wild to think that even an NFL star like Travis Kelce wasn’t safe from this scam. Prosecutors said in court that Kelce was among the victims, though they didn’t get into specifics. We know from a 2021 Forbes article that Kelce invested in a fund established by Jawahar’s company, Swiftarc. Jawahar was indicted by a grand jury back in 2023 and, finally, pleaded guilty to three counts of wire fraud in January. But it gets even crazier. After his indictment, this guy actually tried to coach a victim on what to tell the FBI! Plus, he lied about his immigration status, living in the U.S. without legal status since 2005, and even tried to get a relative to remotely wipe his iPhone to hide evidence. Seriously, the audacity is just off the charts.
This whole thing just reminds you that even the biggest names can get caught up in these awful schemes. With Siddharth Jawahar behind bars for 11 years and facing millions in restitution, hopefully, it sends a clear message to anyone thinking they can get rich by preying on others. What a mess.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Bleacher Report.
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