Travis Kelce was among the victims of a man’s multi-million dollar Ponzi scheme, tell me about this news in (https://www.nbcnews.com/news/us-news/travis-kelce-victim-multi-million-dollar-ponzi-scheme-rcna598243)

Kansas City Chiefs tight end Travis Kelce was named by federal prosecutors as one of the victims in a multimillion-dollar Ponzi scheme run by Texas-based investment manager Siddharth Jawahar.

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Key Details of the Case

• The Conviction and Sentence: On September 15, 2026, 38-year-old Siddharth Jawahar was sentenced in federal court in Missouri to 11 years in prison. He had previously pleaded guilty to three counts of wire fraud. U.S. District Judge Zachary M. Bluestone also ordered Jawahar to pay over $31.35 million in restitution to his victims.

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• How the Scheme Operated: Between July 2016 and December 2023, Jawahar raised more than $35 million from investors through his firm, Swiftarc Capital LLC. Prosecutors revealed that only about $10 million was actually invested. The bulk of the funds went into a single, high-risk holdingPhilip Morris Pakistan. When that venture lost value, Jawahar concealed the losses, sent falsified statements claiming profits, and used money from incoming investors to pay off earlier ones.

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• Misuse of Capital: Prosecutors stated that Jawahar diverted funds to support a lavish personal lifestyle, spending on private jet flights, luxury residences in Austin and New York, exclusive club memberships, and high-end goods.

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• Kelce’s Involvement: Kelce had previously backed a venture fund tied to Swiftarc. While prosecutors formally listed him among the affected victims during court proceedings, they did not disclose the specific dollar amount he lost. Authorities emphasized that Kelcealong with other professional athletes who fell victim to the schemewas purely an affected investor and was not accused of any wrongdoing.

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