Investment manager sentenced for $35M fraud

Siddharth Jawahar, 38, was sentenced to 11 years in prison for running a Ponzi scheme through his firm Swiftarc Capital that defrauded investors of over $35 million.

Travis Kelce was a victim

Kansas City Chiefs tight end Travis Kelce was named in court as one of Jawahar's victims during sentencing, though prosecutors did not disclose how much money Kelce lost.

The scheme: fake returns on real money

Jawahar told clients he was diversifying their investments, but funneled 99% of the $35.6 million into a single failing overseas company, Philip Morris Pakistan, while falsely reporting strong returns.

He admitted it was pure greed

When interviewed by the FBI, Jawahar said he 'did this because of greed, any other adjective would be incorrect,' though he later contradicted himself in court filings.

“did this because of greed, any other adjective would be incorrect”

Luxury spending on stolen money

Jawahar spent the stolen funds on private jets, five-star hotels, club memberships at Zero Bond and Soho House, plus apartments in New York and Austin worth over $500,000 combined.

He tried to manipulate his case from jail

After arrest, Jawahar pressured a victim to withhold information from the FBI, asked his sister to wipe his phone, and hired a political consulting firm to plant sympathetic media coverage before sentencing.

He owes $31.35M and won't pay

Jawahar has not paid any of the $31.35 million in restitution owed to victims. In a recorded jail call, he told his fiancée that 'restitution never gets paid' and expects it to be commuted.

“restitution never gets paid”