Overview
- U.S. District Judge Zachary M. Bluestone sentenced Siddharth Jawahar to 11 years in prison on Tuesday, Sept. 15, and ordered roughly $31.35 million in restitution for victims of the scheme.
- Prosecutors say Jawahar ran Swiftarc Capital LLC and took in more than $35 million from investors while investing only about $10 million, funneling nearly all client funds into Philip Morris Pakistan.
- During sentencing prosecutors identified roughly 64 victims and briefly named Kansas City Chiefs tight end Travis Kelce as one of them, but officials did not disclose how much any individual lost and victim materials are sealed.
- Federal filings say Jawahar used new investor money to pay earlier clients and to finance private jets, luxury apartments, high-end travel and shopping, and that he tried to obstruct the investigation after his indictment.
- Court-ordered restitution and ongoing recovery efforts aim to repay defrauded investors, and reporting highlights that other professional athletes previously linked to Swiftarc investments may also be affected.