Travis Kelce caught in $35M Ponzi scheme
Siddharth Jawahar, 38, an undocumented immigrant, pleaded guilty to wire fraud and got 11 years. He took in $35M from investors but only invested about $10M. The rest went to private jets, luxury hotels, and new investor payoffs. Kelce was named as a victim but his losses aren't public yet.
The joke writes itself: man loses money, goes straight to the studio to make it back.
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.
Source
x.com