Key Takeaways
- Prosecutors identified Travis Kelce as a victim of Siddharth Jawahar’s Ponzi scheme, though they did not disclose how much the Chiefs star invested or lost.
- Jawahar raised more than $35 million, invested only about $10 million and used client funds for private jets, luxury apartments, designer shopping and payments to earlier investors.
- A federal judge sentenced Jawahar to 11 years in prison and ordered him to pay $31.35 million in restitution; Kelce has not publicly addressed the case.
Travis Kelce has been identified as one of the victims of a sprawling Ponzi scheme that raised more than $35 million from investors while its operator spent the money on private jets, luxury apartments, and expensive nights out. Prosecutors mentioned the Kansas City Chiefs star during Siddharth Jawahar’s sentencing in federal court on Tuesday, September 15, though they did not disclose details about Kelce’s investment or potential losses.
According to the U.S. Department of Justice, Jawahar, 38, was sentenced to 11 years in prison and ordered to pay $31.35 million in restitution after pleading guilty in January to three counts of wire fraud.
The Texas-based investment manager operated Swiftarc Capital LLC and a network of related entities, including Swiftarc Venture Labs Fund, where Kelce had previously been identified as an investor. The scheme ran from about July 2016 through December 2023.
Kelce’s connection to Swiftarc was not previously a secret. A 2021 Forbes report about NBA guard Gary Harris’ business portfolio named Kelce alongside Harris, Tim Hardaway Jr. and Mason Plumlee as athletes who had invested in Swiftarc Venture Labs Fund. Jawahar was described at the time as the fund’s co-founder and managing partner.
Federal authorities said Jawahar began directing client money into Philip Morris Pakistan in 2015 and eventually concentrated 99 percent of investors’ funds in that single company. When the investment declined, he concealed the losses and continued telling clients their portfolios were profitable.
Jawahar collected more than $35 million during the scheme but invested only about $10 million, using money from newer clients to pay earlier investors.
U.S. District Judge Zachary M. Bluestone cited the “enormous” losses during sentencing and echoed one victim’s assertion that Jawahar had “weaponized” the trust placed in him.
That trust also financed Jawahar’s personal spending. Prosecutors said investor money paid for “travel on private jets, stays at luxury hotels, a luxury apartment in Austin and New York City,” along with private-club memberships, designer shopping and costly restaurant outings.
Jawahar’s conduct continued after his indictment: Authorities said he attempted to coach a victim into delivering a favorable statement to the FBI, lied about his immigration status and finances, and asked his sister to remotely wipe his iPhone to conceal evidence.
Kelce has not publicly addressed being named in the case.
