Nimah Alabi
Kansas City Chiefs tight end, Travis Kelce, has been named as one of the victims of a Ponzi scheme that took more than $35 million from investors.
Kelce’s name was mentioned in a Missouri federal court on Tuesday, September 15, during the sentencing of Siddharth Jawahar, the founder of Texas based investment company Swiftarc Capital LLC. Jawahar was sentenced to 11 years in prison after pleading guilty to three counts of wire fraud.
He was also ordered to pay $31.35 million in restitution.
According to prosecutors, Jawahar’s company collected more than $35 million from investors between July 2016 and December 2023 but invested only about $10 million.
Prosecutors said he used money from newer investors to repay earlier investors while also funding an expensive lifestyle that included private jets, luxury accommodation and high end spending.
The scheme involved 64 victims, according to the Associated Press.
Prosecutors said Jawahar had placed a large portion of investors’ funds into a single investment that later declined in value, while allegedly telling clients that their investments were performing well.
Details of Kelce’s involvement have not been disclosed.
It is not publicly known how much he invested or how much he may have lost.
Kelce has not been accused of wrongdoing and was identified in court as a victim of the scheme.
