Illegal Immigrant Sentenced to 11 Years in Prison for Multimillion-Dollar Ponzi Scheme
The sentence follows Jawahar’s guilty plea to wire fraud charges involving investors in Missouri and beyond who were promised returns that never materialized.
Robert Patrick, U.S. District Court Communications
ST. LOUIS – U.S. District Judge Zachary M. Bluestone on Tuesday sentenced an illegal immigrant who ran a Ponzi scheme that bilked investors in Missouri and elsewhere out of millions of dollars to 11 years in prison.Judge Bluestone also ordered Siddharth Jawahar, 38, to pay $31.35 million in restitution.Judge Bluestone cited the “enormous” losses and the lengthy duration of Jawahar’s fraud and echoed a victim who said Jawahar “weaponized” investors’ trust...
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