Kansas City Chiefs tight end Travis Kelce has reportedly been named as a victim in a major Ponzi scheme in a Missouri federal court. On Tuesday, the husband of singer-songwriter Taylor Swift was listed as one of many individuals victimized by Siddharth Jawahar, who the U.S. Attorney’s Office noted was an illegal immigrant. [snip] The U.S. Attorney’s Office explained that Jawahar ran a Texas-based investment company called Swiftarc Capital, LLC and began investing his clients’ funds heavily into Philip Morris Pakistan (PMP), which 99% of his clients were eventually consolidated into. He then failed to warn investors when the value of PMP declined and claimed their investments were profiting. Though he invested only about $10 million, he took in more than $35 million from about July 2016 through December 2023. [snip] “Jawahar used money from new investors to repay older investors and to fuel an extravagant lifestyle that included travel on private jets, stays at luxury hotels, a luxury apartment in Austin and New York City, memberships at multiple private clubs across the country, spending sprees at clothing stores and expensive outings at fancy restaurants,” said the U.S. Attorney’s Office. U.S. District Judge Zachary M. Bluestone cited the size and duration of the losses during Jawahar’s sentencing, stressing his failure to repay victims. Prosecutors have not publicly disclosed how much Kelce invested or whether he suffered a financial loss. (*) Full article: https://www.oann.com/newsroom/travis-kelce-among-victims-in-35m-ponzi-scheme-run-by-illegal-immigrant/ Post navigation ‘Out of control’ killings in Spanberger’s Virginia reaches ‘insane’ point as migrant charged in stabbing spree Texas Dem group allegedly ‘paying’ for votes, operative claims in undercover video: ‘Shady as f–k’
