Taylor Swift's husband Travis Kelce duped by Indian-origin man in $35-million Ponzi scheme
The US Attorney's Office said Jawahar received more than $35 million from investors but invested only around $10 million.
Travis Kelce, the husband of pop superstar Taylor Swift and tight end for the Kansas City Chiefs, was among the victims allegedly duped in a $35 million Ponzi scheme orchestrated by Indian-origin man Siddharth Jawahar. Jawahar, who pleaded guilty to three counts of wire fraud in January, was sentenced to 11 years in prison and ordered to pay $31.35 million in restitution.
According to court documents, Jawahar, a resident of the US without legal status since 2005, operated a Texas-based investment company called Swiftarc Capital LLC. The scheme began accepting money from investors in 2015 and operated as a Ponzi scheme, using funds from newer investors to pay earlier investors and inflate returns.
The US Attorney's Office reported that Jawahar received over $35 million from investors but only invested around $10 million between 2016 and 2023. Kelce, who has invested alongside other professional athletes including NBA players Gary Harris, Tim Hardaway Jr., and Mason Plumlee, invested an unspecified amount in the scheme.
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Also reported by 2 other outlets
- Taylor Swift faces funny challenge with Travis Kelce’s family dailytimes.com.pk
- Indian-origin man jailed in $35m Ponzi case; Taylor Swift’s husband Kelce a victim indianexpress.com
