Travis Kelce among victims of a $31M Ponzi scheme
NEW YORK — Newly married Kansas City Chiefs tight end Travis Kelce was one of the victims in a $31 million Ponzi scheme prosecuted in Missouri. Siddharth Jawahar, who had been living in the United States illegally, was sentenced to 11 years in prison and ordered to pay $31.35 million in restitution to victims of a scam dating back to 2016 on Tuesday, Justice Department officials said. The ...
Kansas City Chiefs tight end Travis Kelce was among the victims of a $31 million Ponzi scheme run by Siddharth Jawahar, according to the Justice Department officials. The scheme, which operated from 2016, saw Jawahar collect over $35 million from investors, using only $10 million for legitimate investments. Jawahar allegedly misled his clients by deceiving them into believing their investments were growing, even as the profits from a company called Philip Morris Pakistan declined.
He used funds from new investors to repay older ones until 2023. Jawahar pleaded guilty to wire fraud charges in January. The 36-year-old NFL star's worth is estimated at $90 million by Forbes. It remains unclear how much Kelce might have lost in the fraudulent scheme. He married pop music superstar Taylor Swift in July, whose net worth is estimated at $2 billion.
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