Chiefs Star Travis Kelce is Named Among Victims of $35m Ponzi Scheme
Siddharth Jawahar Gets 11 Years in Prison for Fraud
TL;DR
- Kansas City Chiefs tight end Travis Kelce was named as a victim in a $35 million Ponzi scheme.
- Siddharth Jawahar, the perpetrator, was sentenced to 11 years in prison and ordered to pay $31.35 million in restitution.
- Jawahar ran a Texas-based company, Swiftarc Capital LLC, and defrauded investors by misrepresenting investment performance and using new investor funds to repay older ones.
- Other athletes, including NBA players Gary Harris, Tim Hardaway Jr., and Mason Plumlee, were also mentioned as investors in the scheme.
- Jawahar used investment funds to support a lavish lifestyle, including private jets and luxury living.