Travis Kelce Named Victim in $35 Million Ponzi Scheme

Travis Kelce has been pulled into a multimillion-dollar fraud case after U.S. prosecutors identified the Kansas City Chiefs star as one of the victims of a Ponzi scheme that allegedly collected more than $35 million from investors.

Travis Kelce on July 20, 2022, in Hollywood, Calif. / Photo Getty

Kansas City Chiefs tight end Travis Kelce has been identified by U.S. prosecutors as one of the victims of a multimillion-dollar investment fraud scheme that brought in more than $35 million from investors, according to court proceedings and reports published this week.

The revelation came on Tuesday, September 15, when Siddharth Jawahar, 38, was sentenced to 11 years in federal prison in Missouri after pleading guilty to three counts of wire fraud. He was also ordered to pay $31.35 million in restitution to people who lost money in the scheme.

Kelce’s name was mentioned briefly in court as one of the victims. Prosecutors did not provide details about how much money the NFL star invested or how much he may have lost. Authorities also said they do not publicly disclose the individual financial circumstances of victims.

The connection between Kelce and Jawahar appears to have come through the Swiftarc Venture Labs Fund, an investment fund associated with Jawahar’s company, Swiftarc Capital LLC. A 2021 Forbes report previously identified Kelce as an investor in the fund.

According to the U.S. Attorney’s Office for the Eastern District of Missouri, Jawahar’s investment operation began taking money from investors in 2015. Prosecutors said he placed client funds into a single investment, Philip Morris Pakistan. When the investment lost value, Jawahar allegedly did not tell investors the truth and instead represented that their investments were generating profits.

From about July 2016 through December 2023, Jawahar collected more than $35 million from investors but invested only around $10 million, prosecutors said. Part of the money from newer investors was allegedly used to pay earlier investors, a practice that is a key feature of a Ponzi scheme.

The remaining money was also allegedly used to support an expensive lifestyle. Prosecutors said Jawahar spent money on private-jet travel, luxury hotels, high-end apartments in Austin and New York City, private-club memberships, expensive clothing, and costly restaurant outings.

The case became even more serious after investigators examined Jawahar’s actions following his indictment. Prosecutors said he attempted to influence a victim’s statement to the FBI and tried to have his sister remotely erase information from his iPhone. He also allegedly provided false information about his immigration status.

Kelce is not accused of participating in the fraud. He was identified as a victim, while Jawahar pleaded guilty to the federal charges and received the prison sentence. Kelce’s specific financial loss has not been publicly disclosed.

The case also involved other professional athletes. Reports have linked NBA players, including Gary Harris, Tim Hardaway Jr., and Mason Plumlee, to investments connected to the Swiftarc Venture Labs Fund. The athletes were investors and were not accused of participating in Jawahar’s fraud scheme.

For Kelce, the case highlights how even high-profile investors can become victims when money is placed under the control of an investment operation that later turns out to be fraudulent. The court’s restitution order provides a legal mechanism for victims to seek repayment, although the amount each individual victim will ultimately recover may depend on the available assets and the restitution process.

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