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 ...
Travis Kelce, the Kansas City Chiefs tight end and newlywed of pop superstar Taylor Swift, is among the victims of a $31 million Ponzi scheme. Siddharth Jawahar, the 38-year-old perpetrator who lived in the U.S. illegally, was sentenced to 11 years in prison and ordered to pay $31.35 million in restitution to victims. Jawahar allegedly deceived investors by claiming their funds were growing in a company called Philip Morris Pakistan, when in fact, the investments were declining.
He used money from new investors to repay older investors until 2023, living an extravagant lifestyle that included travel, luxury stays, and expensive outings. Kelce, who invested in a Texas-based fund created by Jawahar called Swiftarc Capital LLC, might have lost a significant amount of his estimated $90 million net worth.
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