Kansas City Chiefs star Travis Kelce was identified as a victim of a Ponzi scheme that took more than $35 million from investors.
\n\nSiddharth Jawahar, a 38-year-old Indian national who has been living illegally in the United States since 2005, was sentenced Tuesday to 11 years in federal prison. U.S. District Judge Zachary M. Bluestone also ordered him to pay $31.35 million in restitution.
\n\nJawahar pleaded guilty in January to three counts of wire fraud. Prosecutors named Kelce as one of Jawahar’s victims during the sentencing hearing but did not reveal how much money the NFL star invested or lost, KCTV reported.
\n\nA 2021 Forbes article previously identified Kelce as an investor in a fund connected to Jawahar’s Texas-based investment company, Swiftarc Capital LLC.
\n\nJawahar began placing client money into Philip Morris Pakistan in 2015. At one point, about 99% of his clients’ funds were tied to that single investment, according to the Justice Department.
\n\nWhen the investment lost value, Jawahar hid the losses and continued telling clients that they were earning profits. He also claimed he had placed their money in other companies when those investments had never been made.
\n\nJawahar collected more than $35 million from investors between…
Original source: https://www.breitbart.com/sports/
