Who is Siddharth Jawahar? How he ran a $35 million Ponzi scheme; NFL star Travis Kelce was also an investor

PTC Web Desk:  Indian-origin investment adviser Siddharth Jawahar has been sentenced to 11 years in federal prison in the United States for running a multimillion-dollar Ponzi scheme that defrauded investors through his Texas-based investment firm, Swiftarc Capital LLC.

US District Judge Zachary M Bluestone handed down the sentence on September 15. The court also ordered Jawahar, 38, to pay $31.35 million in restitution to the victims, according to the US Department of Justice.

Jawahar pleaded guilty in January 2026 to three counts of wire fraud. The case was investigated by the FBI and the Manhattan District Attorney’s Office.

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Jawahar was the head of Swiftarc Capital, a Texas-based investment company. According to federal prosecutors, he initially invested clients’ money across different securities. However, beginning in 2015, he started putting client funds into a single investment, Philip Morris Pakistan.

Over time, about 99% of the money managed for clients was concentrated in that investment. When its value declined, prosecutors said Jawahar did not disclose the losses to investors. Instead, he continued giving them false information about the performance of their investments.

Investors were also allegedly told that their money had been invested in particular companies or funds when, in several cases, the promised investments had not been made.

How the $35 million Ponzi scheme worked

Federal prosecutors said that between July 2016 and December 2023, Jawahar collected more than $35 million from investors through Swiftarc-related entities. Only about $10 million was actually invested.

According to the Justice Department, money from newer investors was used to make payments to earlier investors, a pattern commonly associated with Ponzi schemes.

Prosecutors also said Jawahar used investor money to support an expensive lifestyle. His spending included private-jet travel, luxury apartments in Austin and New York, private club memberships, expensive clothing and high-end restaurant outings.

Travis Kelce named among the victims

Kansas City Chiefs tight end Travis Kelce was identified in court as one of the investors who fell victim to the scheme.

Kelce has not been accused of any wrongdoing in the case. His investment amount and the precise financial loss he suffered have not been publicly disclosed.

The NFL star had earlier been reported as an investor in a fund linked to Jawahar’s investment business. His identification as a victim places the case in the spotlight because of his profile in American sports.

Alleged attempts to obstruct the investigation

The case also involved allegations that Jawahar attempted to interfere with the investigation after he was indicted.

According to the Justice Department, he tried to influence a victim into providing a favourable statement to the FBI. Prosecutors also said he lied about his immigration status and financial situation and asked his sister to remotely wipe his iPhone, allegedly to conceal evidence.

$31.35 million restitution ordered

Along with the 11-year federal prison sentence, the court ordered Jawahar to pay $31.35 million to the victims.

The Justice Department said the judge considered the substantial financial losses and the length of the fraud when determining the sentence. Jawahar's guilty plea to three wire-fraud charges came in January 2026.