A U.S. district judge has sentenced Siddharth Jawahar, 38, to prison after he defrauded dozens of investors through a Ponzi scheme operated from his Texas-based investment company, Swiftarc Capital LLC.
Jawahar, an illegal immigrant, directed client funds—including those of NFL tight end Travis Kelce—into a single company: Philip Morris Pakistan. The Department of Justice reported that 99% of the invested money totaled more than $35 million.
When the value of Philip Morris Pakistan declined, Jawahar concealed the collapse from investors and instead told them they were profiting. He also misled clients by claiming their funds were invested in other companies he had never actually engaged with.
The scheme was linked to an extravagant lifestyle that included travel on private jets.
