Travis Kelce Named Victim in Large Ponzi Scheme Raking in Millions: Report
Summary
Travis Kelce, a Kansas City Chiefs player, was identified as one of at least 64 victims in a large fraud case involving a Ponzi scheme. Siddarth Jawahar, who ran the scheme, pleaded guilty and was sentenced to 11 years in prison for stealing tens of millions of dollars from investors.Key Facts
- Travis Kelce was named in court as a victim of a Ponzi scheme run by Siddarth Jawahar.
- Jawahar admitted to wire fraud charges and was sentenced to 11 years in prison.
- The scheme involved using new investors’ money to pay earlier investors, a common fraud method.
- Kelce invested in a fund created by Swiftarc, a company co-founded by Jawahar.
- Prosecutors did not say how much money Kelce lost or provide details about other victims.
- Jawahar spent stolen money on luxury travel, hotels, and restaurants.
- Missouri Congressman Sam Graves wrote a letter asking for a shorter sentence for Jawahar, but the judge rejected it.
- Kelce and his wife, pop star Taylor Swift, have a combined estimated worth of about $2.08 billion.
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