NFL Star Travis Kelce Among Victims in $35 Million Ponzi Scheme

Kansas City Chiefs tight end Travis Kelce was identified as a victim in a $35 million Ponzi scheme, according to reports from a Missouri court on Tuesday. Prosecutors named the NFL star as one of the individuals defrauded by Siddharth Jawahar, the architect of the scheme.

Jawahar, 38, received an 11-year prison sentence for his role in the fraud, as detailed in a press release from the U.S. Attorney’s Office for the Eastern District of Missouri. He had previously pleaded guilty to three counts of wire fraud in January and was ordered to pay $31.35 million in restitution to his victims.

Kelce, 36, had invested in the Swiftarc Venture Labs Fund, which was part of Swiftarc Capital LLC, a company co-founded by Jawahar. A 2021 Forbes article indicated Kelce's investment in the fund.

The scheme began around 2015 when Jawahar started investing client funds into a single entity, Philip Morris Pakistan, for Swiftarc Capital LLC, which was based in Texas. However, as the value of Philip Morris Pakistan declined, Jawahar allegedly misrepresented the investment's performance to his investors, falsely claiming profits.

From July 2016 through December 2023, Jawahar reportedly amassed over $35 million from Swiftarc investors, but only invested approximately $10 million of these funds. The press release states that Jawahar allegedly used the money from investors to repay earlier investors and to finance a lavish personal lifestyle. This lifestyle included travel on private jets, stays at luxury hotels, residences in Austin and New York City, memberships at exclusive clubs, and significant spending on clothing and dining.

Following his indictment, Jawahar reportedly attempted to influence a victim to provide a favorable statement to the FBI. He also is accused of misrepresenting his immigration status and financial situation, and of attempting to have his sister remotely erase data from his iPhone to conceal evidence.