Kansas City Chiefs star Travis Kelce has been identified as a victim in a multimillion-dollar Ponzi scheme that took in more than $35 million from investors. Prosecutors briefly named Kelce during the sentencing of Swiftarc Capital founder Siddharth Jawahar, who was sentenced to 11 years in federal prison and ordered to pay $31.35 million in restitution. Details surrounding how much Kelce invested or lost have not been publicly disclosed.
via PEOPLE:
On Tuesday, Sept. 15, Siddharth Jawahar, 38, was sentenced to 11 years in prison, according to a press release from the U.S. Attorney’s Office, Eastern District of Missouri.
He pleaded guilty to three counts of wire fraud in January and has been ordered to pay more than $31 million in restitution to his victims after running a Ponzi scheme, the release noted.
According to outlets including KMOV and WENG, Kansas City Chiefs tight end Kelce was only briefly mentioned in court, and prosecutors did not expand on the 36-year-old’s connection to the case.
A Forbes article published in 2021 states that Kelce was an investor in the Swiftarc Venture Labs Fund, created by Swiftarc Capital LLC, an investment company co-founded by Jawahar.
Jawahar ran the investment company Swiftarc Capital LLC and began investing client funds in a single investment, Philip Morris Pakistan, in 2015, per the press release. However, when the value of the investment declined, he didn’t tell the investors, instead claiming they were making profits.
