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White House Jokes Travis Kelce Could Join Fraud Task Force After $35M Scam
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The Fraud Case Behind the Joke Travis Kelce’s name surfaced… |
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The Fraud Case Behind the Joke Travis Kelce’s name surfaced in federal court as a victim of a $35 million Ponzi scheme, and the exact size of his loss was not disclosed. The Justice Department announced that 38-year-old Siddharth Jawahar had been sentenced to 11 years in prison and ordered to pay more than $31 million in restitution. Jawahar, an illegal alien from India, ran Swiftarc Capital LLC. The company was found to have funneled all client money into Philip Morris Pakistan but invested only about $10 million. New clients’ money was then used to pay earlier clients. Wall Street jargon may change, but that basic trick remains stubbornly familiar. The White House Punchline That set up the White House’s response. After touting the White House Task Force to Eliminate Fraud, the White House wrote, “That’s why we do what we do,” and highlighted its work identifying fraud and protecting Americans. Then came the punchline: “Oh, and it looks like the next draft pick to join the Task Force is @tkelce!” It was a pointed bit of political social-media humor aimed at a football star who had just been listed among the scheme’s victims. The joke works because the White…
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