Travis Kelce Ponzi scheme fraud case

Kansas City Chiefs tight end Travis Kelce, 36, was named as a victim of a $35 million Ponzi scheme at the federal sentencing of Siddharth Jawahar, 38, the Texas fund manager who ran the fraud through his firm Swiftarc Capital LLC and pleaded guilty to three counts of wire fraud. Prosecutors said Jawahar raised more than $35 million from investors between July 2016 and December 2023, put roughly 99% of client money into a single stock -- Philip Morris Pakistan -- and, as that position collapsed, hid the losses, falsified account statements and used new investors' money to pay earlier clients while personally spending on private jets, luxury apartments in Austin and New York, and exclusive club memberships. Jawahar actually invested only around $10 million of the funds he raised and faces up to 11 years in prison; court filings did not specify Kelce's individual financial loss.