Travis Kelce Among Victims in $35M Ponzi Scheme; Leader Gets 11 Years

A Texas-based investment firm leader has been sentenced to 11 years in federal prison for orchestrating a massive Ponzi scheme that bilked dozens of individuals, including Kansas City Chiefs tight end Travis Kelce. Siddharth Jawahar, 38, the founder of Swiftarc Capital LLC, was handed the sentence on Tuesday by U.S. District Judge Zachary Bluestone, and ordered to pay a staggering $31.35 million in restitution to his victims.

Prosecutors revealed that between July 2016 and December 2023, Jawahar amassed over $35 million from 64 investors.

However, instead of legitimately investing the funds, he only put about $10 million into actual ventures.

The vast majority of the money was used to repay earlier investors, a classic Ponzi scheme tactic, and to fuel an extravagant lifestyle that included luxury apartments in New York City and Austin, Texas, private jet travel, and other lavish expenses. While court documents did not detail the extent of Kelce's losses, it was confirmed in court that the NFL star was among those defrauded.

A 2021 Forbes article had previously noted Kelce's investment in a fund established by Jawahar's company, Swiftarc. Spokespeople for both the U.S. Attorney's Office and Kelce declined to comment further on the specifics of his connection to the case.

Jawahar, who is originally from India and had been living in the U.S. without legal status since 2005, was indicted by a grand jury in 2023.

He pleaded guilty in January to three counts of wire fraud.

Further complicating his legal woes, prosecutors also stated that after his indictment, Jawahar attempted to coach a victim into providing a favorable statement to the FBI, lied about his immigration status, and tried to have a relative remotely wipe his iPhone to conceal evidence. This case serves as a stark reminder of the risks associated with investment fraud and the importance of due diligence, affecting individuals from all walks of life, even prominent figures like Travis Kelce.

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