Travis Kelce identified among victims as Siddharth Jawahar jailed over $35m Ponzi scheme
A Missouri prosecutor named Kansas City Chiefs tight end Travis Kelce among the victims of a Ponzi scheme that took in more than $35m during the sentencing of Siddharth Jawahar on Tuesday, when Jawahar received an 11-year prison term.
The US attorney’s office for the eastern district of Missouri said Jawahar, 38, pleaded guilty in January to three counts of wire fraud in US district court in St Louis and was ordered to pay $31.35m in restitution. Television station KMOV reported the prosecutor mentioned Kelce without further comment; it is not known when Kelce made the investment or how much he invested.
According to a news release from the US attorney’s office, Jawahar ran a Texas-based investment company, Swiftarc Capital LLC, which began taking money from investors in 2015. Prosecutors said he placed all investor funds into a single investment that fell in value, did not notify investors of the loss, told them they were making money and used funds from new investors to repay earlier investors. They also said he used investment funds to support “an extravagant lifestyle” that included private jets, luxury living, elegant dining and memberships in private clubs.
The news release stated Jawahar received more than $35m from investors but invested only about $10m from July 2016 through December 2023. The guilty plea and sentencing were detailed by the US attorney’s office in the eastern district of Missouri.
A 2021 Forbes article about NBA guard Gary Harris described Harris’s investment activity and referenced Swiftarc Ventures Labs Fund, naming Jawahar as co-founder and managing partner and noting Harris had spoken about learning from Jawahar. That piece also named other athletes who had invested with Swiftarc, including Kelce and NBA players Tim Hardaway Jr and Mason Plumlee.
Spotrac data cited in reporting showed Kelce, Hardaway and Harris all have career earnings in excess of $111m each. In July Kelce married Taylor Swift, and Forbes reported her net worth as $2.1bn on the day of their wedding.
Kelce, 36, signed a one-year extension to return for his 14th campaign with the Chiefs after speculation about his potential retirement last season, and Kansas City beat the Denver Broncos in their season opener on Monday.