Travis Kelce named among victims of $35 million Ponzi scheme
“Kansas City Chiefs tight end Travis Kelce was among the victims of an investment scheme operated by Siddharth Jawahar, who has been sentenced to 11 years in prison and ordered to repay $31 million to …”
Jawahar pleaded guilty to three counts of wire fraud in January after prosecutors said he ran a Ponzi scheme through his Texas-based investment company, Swiftarc Capital LLC.The US Attorney’s Office for the Eastern District of Missouri said Jawahar defrauded investors between 2016 and 2023 by using money from new investors to repay earlier investors and support an extravagant lifestyle.
During Tuesday’s sentencing hearing, a prosecutor identified Kelce as one of Jawahar’s high-profile victims, attended the hearing. No further details about Kelce’s involvement were discussed. The prosecutor’s office said Jawahar’s company received more than $35 million between July 2016 and December 2023 but invested only about $10 million.
Prosecutors also said he travelled on private jets, stayed at luxury hotels, spent heavily and held memberships at private clubs. Jawahar was also accused of attempting to influence a victim’s statement after his indictment and asking his sister to wipe his i.
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