Travis Kelce Named a Victim in $35 Million Ponzi Scheme

Travis Kelce is dealing with a hit this week that has nothing to do with football. The Chiefs tight end was named in federal court as one of the victims of a Ponzi scheme that took in more than $35 million from investors.

The scheme was run by Siddharth Jawahar, 38, who was sentenced Tuesday to 11 years in prison after pleading guilty to three counts of wire fraud. Jawahar was also ordered to pay $31.35 million in restitution to the people he defrauded, according to the U.S. Attorney's Office for the Eastern District of Missouri.

What Happened

Jawahar ran a Texas-based investment company called Swiftarc Capital LLC. Starting in 2015, he began funneling client money into a single investment, Philip Morris Pakistan, until about 99% was tied up in that one bet. When the value of that investment dropped, prosecutors say Jawahar didn't tell his investors. Instead, he falsely claimed they were still turning a profit, all while using money from new investors to keep paying off earlier ones, a hallmark of how Ponzi schemes typically operate.

According to court documents, Jawahar brought in more than $35 million total but only actually invested around $10 million of it between July 2016 and December 2023.

Kelce's Involvement

Kelce's name came up during Tuesday's sentencing, though it's not clear exactly how much money he lost or when he first got involved with Jawahar's company. He is not accused of any wrongdoing in the case and appears to simply be one of the investors caught up in the fraud.

Kelce isn't believed to be the only athlete affected. Reports have connected other names to Jawahar's operation as well, including NBA players Tim Hardaway Jr. and Mason Plumlee.

The Bigger Picture

Kelce, now in his 12th season with the Chiefs, is one of the highest-paid players at his position, so a financial hit like this, whatever the actual number turns out to be, likely won't change much for him day to day. Still, it's a reminder that even players with plenty of resources and access to financial advice aren't immune to getting caught up in schemes like this one.

For now, the story is still developing, and it remains to be seen if more details about Kelce's specific losses will come out in the days ahead.

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