Investment adviser sentenced for fraud

Siddharth Jawahar, a Texas-based investment adviser, was sentenced to 11 years in prison for running a Ponzi scheme that defrauded Kansas City Chiefs star Travis Kelce and other investors out of millions.

Massive restitution ordered

Jawahar was ordered to pay $31.35 million in victim restitution. He pleaded guilty in January to three counts of wire fraud.

How the scheme worked

Jawahar's company, Swiftarc Capital, took in over $35 million from investors but invested only about $10 million. He concentrated 99% of client funds into a single failing investment, Philip Morris Pakistan, while falsely claiming profits.

Luxury lifestyle funded by fraud

Jawahar used stolen investor money for private jets, luxury hotels, apartments in Austin and New York City, private club memberships, designer shopping, and expensive restaurants.

Judge cited enormous losses

Judge Zachary Bluestone said Jawahar 'weaponized' investors' trust and cited the enormous losses and lengthy duration of the fraud. His failure to repay victims was a major factor in the sentence.

“weaponized investors' trust”

Obstruction attempts after arrest

After indictment, Jawahar tried to coach a victim to give favorable statements to the FBI, lied about his immigration status and finances, and attempted to have his sister wipe his iPhone to destroy evidence.

Background on the defendant

Jawahar, 38, is from India and has been in the U.S. illegally since 2005, according to prosecutors. His attorney claims he is taking ownership of his mistakes and working to help other inmates.