Entertainment
Travis Kelce Named Victim in Multimillion-Dollar Ponzi Scheme
Travis Kelce
Sacked in Multimillion-Dollar Scam
Published
Travis Kelce knows a thing or two about taking hits … but prosecutors say the Chiefs superstar got walloped off the field too — in a massive Ponzi scheme.
Kelce was named in federal court Tuesday as one of the people burned by Siddharth Jawahar, who was sentenced to 11 years in prison for a fraud prosecutors say sucked in more than $35 million from investors.
Jawahar pleaded guilty to three counts of wire fraud and was ordered to pay more than $31 million in restitution.
According to the feds, Jawahar ran Swiftarc Capital LLC and funneled nearly all of his clients’ money into one investment — Philip Morris Pakistan.
When that bet went south, prosecutors say Jawahar lied to investors about how their money was performing … while using new investor cash to pay earlier clients.
The feds say he also lived large on the money, splurging on private jets, luxury hotels, restaurants, shopping and pricey apartments.
Kelce’s exact losses were not disclosed, and prosecutors made clear he was a victim — not accused of any wrongdoing.
His name had previously been linked to a venture fund, though authorities did not spell out exactly how his investment was tied to Jawahar’s scheme.
As TMZ previously reported, Kelce’s had plenty going on away from football lately … including marrying Taylor Swift and dropping millions on a lakefront Ohio mansion.
Jawahar, meanwhile, will now spend more than a decade behind bars.