$15 million Ponzi scheme, paid in Amazon cards
Travis Kelce got fleeced by Siddharth Jawahar, a 38-year-old con artist who pulled in $35 million from investors (only actually invested about $10 million) and spent the rest on private jets, luxury hotels, and lifestyle grift.
Jawahar just got 11 years in prison and ordered to pay $31 million in restitution.
And yes, someone actually agreed to take $15 million in Amazon gift cards, which is maybe the most embarrassing part of a scheme that already involved asking an NFL player to fund your fraud.
BREAKING: Travis Kelce has been named as a victim in a massive Ponzi scheme that pulled in more than $35 million from investors. Siddharth Jawahar, a 38-year-old illegal immigrant, pleaded guilty to three counts of wire fraud and has now been sentenced to 11 years in federal prison and ordered to pay more than $31 million in restitution. Prosecutors say Jawahar took in more than $35 million but invested only about $10 million, using new investor money to repay earlier clients and fund private jets, luxury hotels, and expensive outings. Kelce’s individual losses have not been publicly disclosed as this time, @Max_Gorden reports.
A fake investment scheme stole $35 million from celebrity clients using absurdly obvious grift tactics.
Source
x.com