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Delhi-Born Investor Jailed 11 Years for $35M Ponzi Scheme Defrauding Travis Kelce, Others
M
Moneycontrol•28-09-2026, 11:47
Delhi-Born Investor Jailed 11 Years for $35M Ponzi Scheme Defrauding Travis Kelce, Others
- •Siddharth Jawahar, a Delhi-born investment manager, received an 11-year prison sentence in the US for running a Ponzi scheme that defrauded over 64 victims, including NFL star Travis Kelce.
- •Jawahar pleaded guilty to three counts of wire fraud and was ordered to pay $31.35 million in restitution after raising over $35 million but investing only about $10 million.
- •He used new investor funds to repay earlier ones and spent lavishly on private jets, luxury hotels, and high-end living, according to the US Department of Justice.
- •Jawahar's firm, Swiftarc Capital LLC, initially invested in diverse securities but later concentrated 99% of client funds into Philip Morris Pakistan stock, concealing losses from investors.
- •Other victims include NBA players Gary Harris, Tim Hardaway Jr, and Mason Plumlee; Jawahar also attempted to obstruct the investigation and sought favorable publicity while awaiting sentencing.
Key Questions Answered
Siddharth Jawahar was sentenced to 11 years in a US prison and ordered to pay $31.35 million in restitution after pleading guilty to three counts of wire fraud.
Prosecutors stated that Jawahar raised over $35 million from investors between July 2016 and December 2023, but only invested about $10 million, or 28 percent, using the rest for personal luxuries and to pay off earlier investors.
NFL star and Travis Kelce, husband of singer Taylor Swift, along with NBA players Gary Harris, Tim Hardaway Jr., and Mason Plumlee, were identified among the victims of the Ponzi scheme.
