Travis Kelce among pro athletes defrauded by Ponzi scheme that funneled funds into one stock
During a Tuesday sentencing hearing in a St.Louis federal courtroom, prosecutors named Kelce among those defrauded by 38-year-old Siddharth Jawahar.Jawahar operated Swiftarc Capital LLC, an investment firm that collapsed into a federal wire fraud investigation.HALL OF FAME RECEIVER TERRELL OWENS ACCUSES LONGTIME MANAGER OF 'STEALING' FROM HIM: 'LIAR AND A THIEF'According to the U.S.
Department of Justice, Jawahar raised more than $35 million from investors between July 2016 and December 2023.Instead of managing a diversified portfolio, he allocated roughly 99% of client capital into a single stock, Philip Morris Pakistan.Kansas City Chiefs tight end Travis Kelce heads off the field following an NFL football game against the Las Vegas Raiders in Las Vegas, on Jan.4, 2026.
(David Becker/AP Photo)Kansas City Chiefs tight end Travis Kelce, right, appears with singer Taylor Swift after the Chiefs victory over the Buffalo Bills in the AFC Championship game in Kansas City, Mo., on Jan.26, 2025.
(AP Photo/Charlie Riedel, File)As that position tanked, Jawahar hid the losses, issued falsified statements and used funds from new investors to pay out earlier clients.SIGN UP FOR THE DAILY OUTKICK NEWSLETTERFederal prosecutors noted Jawahar actually invested roughly $10 million of the total funds raised.He spent the remainder funding personal luxuries, including private jet charters, upscale apartments in Austin and New York, high-end dining and exclusive private club memberships.Court filings did not specify the exact financial loss suffered by Kelce.Kelce was not the only professional athlete caught up in the operation.A 2021 Forbes report previously linked Swiftarc funds to several NBA players, including Gary Harris, Tim Hardaway Jr.
and Mason Plumlee.Kansas City Chiefs tight end Travis Kelce (87) celebrates after scoring a touchdown against the Washington Commanders during the third quarter of the game at GEHA Field at Arrowhead Stadium.(Jay Biggerstaff/Imagn Images)Jawah...