Investment firm leader gets 11 years for Ponzi scheme that bilked dozens, including Travis Kelce

U.S. District Judge Zachary Bluestone sentenced Siddharth Jawahar, 38, to 11 years in federal prison for his role in a Ponzi scheme that prosecutors claim bilked 64 victims, including Kansas City Chiefs tight end Travis Kelce. Jawahar, who was indicted by a grand jury in 2023 and pleaded guilty in January to three counts of wire fraud, was ordered to pay $31.35 million in restitution to victims.

Prosecutors allege that between July 2016 and December 2023, Jawahar took in over $35 million from investors in his company, Swiftarc Capital LLC, but only invested about $10 million of that amount. Instead, he allegedly used money from new investors to repay older investors and to fund an extravagant lifestyle, including luxury apartments in New York City and Austin, Texas, private jet travel, and expensive outings.

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