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Kansas City Chiefs tight end Travis Kelce has been identified as one of the victims of a multimillion-dollar Ponzi scheme that has resulted in an 11-year prison sentence for investment adviser Siddharth Jawahar.
Jawahar, 38, was sentenced in federal court on September 15 after pleading guilty to three counts of wire fraud. He was also ordered to pay $31.35 million in restitution after prosecutors said his scheme collected more than $35 million from investors.
Jawahar ran Texas-based investment firm Swiftarc Capital LLC, which he founded in 2013. According to prosecutors, he began putting clients' money into Philip Morris Pakistan in 2015, eventually directing roughly 99% of their funds into the single investment.
When the investment lost value, prosecutors said Jawahar concealed the losses and falsely represented to clients that their money was performing well. Between July 2016 and December 2023, he allegedly collected more than $35 million from investors but put only about $10 million into investments. Some of the incoming funds were instead used to pay earlier investors, while money was also spent on private jets, luxury hotels, restaurants, clothing and expensive apartments.
Kelce's name emerged during the case as one of the people affected by the scheme. He had previously been reported as an investor in the Swiftarc Venture Labs Fund, alongside other professional athletes including Tim Hardaway Jr., Mason Plumlee and Gary Harris.
The exact amount Kelce invested or lost has not been disclosed. Prosecutors have also made clear that the Chiefs star is considered a victim and has not been accused of participating in the fraud.
Jawahar's case involved additional allegations surrounding the investigation. Prosecutors said he attempted to influence a victim's statement, misrepresented his finances and immigration status, and asked his sister to remotely wipe his iPhone.
Following the sentencing, Jawahar's lawyer Doug Passon said, "Sid Jawahar is a very good man who has done some very wrong things, very illegal things," adding that his client had "owned those things."
Despite the financial setback, Kelce has given no public indication that the case has affected him.
