Kansas City Chiefs star Travis Kelce, the husband of pop singer Taylor Swift, has been identified as one of 64 victims of a US$35 million Ponzi scheme operated by investment manager Siddharth Jawahar.
Jawahar, 38, was sentenced to 11 years in federal prison after pleading guilty to three counts of wire fraud. He was also ordered to pay US$31.35 million in restitution to investors.
Prosecutors said Jawahar operated Texas-based investment company Swiftarc Capital, which collected more than US$35 million from investors between 2016 and 2023. Only about US$10 million was actually invested, according to the US Attorney’s Office.
The remaining funds were used in part to repay earlier investors and finance Jawahar’s lifestyle, which prosecutors described as extravagant. Spending included private jet travel, luxury accommodation, expensive outings and memberships at private clubs.
Kelce’s name was mentioned by a prosecutor during Jawahar’s sentencing hearing. However, authorities have not disclosed when Kelce invested, how much money he invested or the amount he may have lost.
Kelce was previously identified as an investor in a fund established by Jawahar’s company in a 2021 Forbes report. Other professional athletes named in connection with the investment firm included NBA players Gary Harris, Tim Hardaway Jr and Mason Plumlee.
The scheme began after Jawahar placed investor money into an investment that later declined in value, prosecutors said. Rather than informing investors about the losses, he allegedly continued representing that their investments were performing well and used funds from newer investors to repay earlier clients.
Prosecutors also accused Jawahar of attempting to interfere with the investigation after his indictment. Court records said he tried to influence a victim’s statement to the FBI and attempted to conceal evidence from investigators.
Kelce has not been accused of any wrongdoing in connection with the case and was identified solely as a victim.
The revelation comes after Kelce married Swift earlier this year, bringing renewed attention to the NFL player’s personal and financial affairs. His representatives have not publicly disclosed further details about his involvement in the investment.
The case highlights the risks faced by high-profile investors as well as the challenges authorities encounter in uncovering fraudulent investment schemes that rely on new investor funds to cover earlier losses.
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