Indian-American adviser found guilty in $25-million investment fraud

Jawahar has now been ordered to remain in custody until he is presented in court.

A grand jury in the US has indicted a 36-year-old Indian-American investment adviser for his alleged involvement in a multimillion-dollar Ponzi scheme.

The 36-year-old investment adviser, Siddharth Jawahar, had allegedly used money from new investors to repay older ones and that is how he financed a lavish lifestyle for himself, the US Attorney’s Office in Missouri said.

Jawahar has now been ordered to remain in custody until he is presented in court.

Texas-based Siddharth Jawahar amassed over $35 million, between July 2016 and December 2023, from investors with his firm Swiftarc Ventures but spent just about $10 million on investments in companies, according to the indictment.

The Federal Bureau of Investigation (FBI) on Mar 13 said it is looking for potential victims of Jawahar in the Miami-area and is urging victims to step forward.