Kansas City Chiefs star Travis Kelce has been identified as one of the victims of a massive Ponzi scheme that took in more than $35 million from investors.
Videos by FanBuzz
Kelce's name surfaced Tuesday during the sentencing of Siddharth Jawahar, 38, who received 11 years in federal prison after pleading guilty to three counts of wire fraud. Jawahar was also ordered to pay $31.35 million in restitution.
Exactly how much Kelce invested or lost remains unclear. According to the Guardian, a prosecutor mentioned the Chiefs tight end as one of the victims in court but provided no additional details.
Prosecutors said Jawahar operated Texas-based Swiftarc Capital LLC, which began accepting investor money in 2015. Instead of spreading that money among investments, Jawahar allegedly put it into a single investment that declined in value.
He then concealed the losses, continued telling clients their investments were profitable and used money from newer investors to repay earlier ones, according to federal prosecutors. Jawahar also spent investor funds on private jets, luxury accommodations, expensive meals and private-club memberships.
Authorities said Jawahar received more than $35 million while investing only about $10 million between July 2016 and December 2023.
Kelce apparently wasn't the only professional athlete connected to Swiftarc. A 2021 Forbes story identified NBA players Gary Harris, Tim Hardaway Jr. and Mason Plumlee among athletes who had invested with the firm.
For Kelce, the unusual revelation comes just days after beginning his 14th NFL season with Kansas City.
