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Siddarth Jawahar

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crime22 days ago•2 min saved

Travis Kelce Named as Investor-Victim in Jawahar Ponzi Case

Travis Kelce is identified as an investor among more than 64 victims in a federal Ponzi scheme led by Siddarth Jawahar. Jawahar pleaded guilty to wire fraud, received an 11-year prison sentence, and was ordered to pay over $31 million in restitution. Kelce’s name appeared briefly in a St. Louis courtroom but he was not named in the indictment. The scheme allegedly used new investor funds to pay earlier investors and fund a lavish lifestyle; other notable investors, such as Tim Hardaway Jr., Gary Harris, and Mason Plumlee, were mentioned, though it’s unclear whether they were victims.

via CBS Sports|

#crime #investment-fraud #ponzi-scheme

crime-justice22 days ago•10 min saved

Kelce Named as a Ponzi-Scheme Victim in St. Louis Case, Court Documents Reveal

Prosecutors listed Kansas City Chiefs tight end Travis Kelce as a victim in a multi‑million‑dollar Ponzi scheme prosecuted in St. Louis, naming him among at least 64 investors in the Swiftarc fund associated with Siddarth Jawahar; Kelce’s name does not appear in the indictment or judgment, and victim impact statements are sealed. Jawahar pleaded guilty to three counts of wire fraud and was sentenced to 11 years in prison with about $31.35 million in restitution. The scheme allegedly used funds from new investors to pay earlier ones and fund lavish lifestyle expenses; other listed investors include Tim Hardaway Jr., Gary Harris, and Mason Plumlee, though their victim status is not clearly confirmed. The case centers on Jawahar’s alleged misappropriation of investors’ tens of millions of dollars.}

via USA Today|

#crime-justice #nfl #ponzi-scheme

sports23 days ago•2 min saved

Kelce Named Victim in $35M Ponzi Scheme

Travis Kelce was named a victim in a Ponzi scheme that bilked investors of more than $35 million. Siddarth Jawahar was sentenced to 11 years in prison and ordered to pay over $31 million in restitution; Kelce’s exact losses were not disclosed. Prosecutors said funds were funneled from new investors to pay existing ones and that the case serves as a cautionary tale about investment scams.

via nbcsports.com|

#court-records #investors #ponzi-scheme