Kansas City Chiefs tight end Travis Kelce was publicly identified by federal prosecutors as a victim in a multi-million-dollar Ponzi scheme orchestrated by Siddharth Jawahar, according to the U.S. Attorney’s Office for the Eastern District of Missouri. Jawahar, 38, was sentenced to 11 years in federal prison after operating Texas-based Swiftarc Capital LLC, a fraud scheme that prosecutors say pulled in more than $35 million from investors while deploying only a fraction of those funds into actual securities.
Federal Court Sentences Siddharth Jawahar to 11 Years
U.S. District Judge Zachary M. Bluestone sentenced Jawahar on September 15 in St. Louis, ordering him to pay $31.35 million in restitution. According to court records cited by federal prosecutors, Jawahar pleaded guilty to three counts of wire fraud in January. Prosecutors stated during the sentencing hearing that Jawahar “weaponized” investors’ trust while running the investment entities. Alongside the prison term and restitution order, the court proceedings revealed that Jawahar attempted to coach a victim into giving the FBI a favorable statement, lied about his finances and immigration status, and tried to persuade his sister to remotely erase his iPhone after his indictment, according to the Justice Department. First Alert 4 reported that Jawahar also paid a political consulting firm $10,000 shortly before sentencing for assistance in obtaining advocacy letters.
Concentrated Bets and Lavish Personal Spending
Federal authorities stated that Jawahar received more than $35 million from investors between July 2016 and December 2023 but invested only about $10 million of that total. According to the U.S. Attorney’s Office, Jawahar initially spread client money across multiple securities before concentrating approximately 99% of Swiftarc funds into Philip Morris Pakistan, a thinly traded stock. As that single investment declined, prosecutors said Jawahar concealed the deterioration from clients, falsely reported that holdings remained profitable, and used incoming cash from newer investors to pay off earlier clients. The Texas State Securities Board discovered that investor reports valued Philip Morris Pakistan shares at 4,000 Pakistani rupees even as brokerage statements showed substantially lower market prices. Regulators revoked Swiftarc Capital’s investment adviser registration in June 2022 after noting that the stock had fallen to 541 rupees per share by May of that year. Meanwhile, investigators traced remaining investor funds to private jet travel, luxury hotel stays, high-end apartments in Austin and New York City, memberships at private clubs, clothing purchases, and restaurant bills, according to federal filings.
Travis Kelce and Other Athletes Named as Investors
Prosecutors identified Travis Kelce as a victim during the September sentencing hearing, though authorities did not disclose the exact amount the NFL player invested or lost. Prosecutors explicitly stated that Kelce is a victim and faces no accusations of wrongdoing. A 2021 Forbes report had previously listed Kelce as an investor in the Swiftarc Venture Labs Fund. Other professional athletes were also linked to the fund in public reports. In a 2021 interview with Forbes, NBA player Gary Harris discussed his involvement in venture capital and his relationship with Jawahar. The same Forbes article noted that Miami Heat guard Tim Hardaway Jr. and former San Antonio Spurs center Mason Plumlee also invested in the fund.
Did you know? Federal investigators uncovered that Jawahar funneled roughly 99% of client assets into a single foreign stock, Philip Morris Pakistan, while using incoming investor deposits to fund luxury travel, private jets, and high-end apartments.
Frequently Asked Questions
Who is Siddharth Jawahar?
Siddharth Jawahar is the 38-year-old operator of Swiftarc Capital LLC who was sentenced to 11 years in federal prison for running a $35 million Ponzi scheme.
Was Travis Kelce accused of any wrongdoing?
No. Federal prosecutors made clear during court proceedings that Travis Kelce is exclusively a victim of the fraud scheme and faces no allegations of wrongdoing.
How much money did the Ponzi scheme involve?
Prosecutors stated that Jawahar brought in more than $35 million from investors, and the court ordered him to pay $31.35 million in restitution.
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