Kansas City Chiefs tight end Travis Kelce has been named as one of the victims in a fraud case that ended this week in Missouri, where venture capitalist Sid Jawahar was sentenced to 11 years in prison.
The case centered on an alleged Ponzi scheme that prosecutors said pulled in roughly $25 million. Jawahar was accused of using money from new investors to cover old debts and to “fuel an extravagant lifestyle.” He had co-founded Swiftarc Ventures in 2019, but later pleaded guilty to federal wire fraud charges before receiving the prison sentence.
Kelce’s involvement was not spelled out in detail. Prosecutors said they would not go into specifics about the victims or their roles in the scheme, and neither Kelce nor the Chiefs commented on the case. The only public reference to the star tight end was that he was among the people harmed.
Forbes reported in 2021 that Kelce had invested in the Swiftarc Ventures Labs Fund, along with several other athletes. That report also named Gary Harris, Tim Hardaway Jr. and Mason Plumlee as other athletes who reportedly put money into the fund.
Jawahar’s sentencing also brought out another layer of controversy. Prosecutors said he paid a consultant to seek positive coverage about him in an effort to “influence the judge” before sentencing.
They also said U.S. Rep.
Sam Graves wrote a letter to the judge asking for a lenient four-year sentence, while prosecutors argued Jawahar had hired a firm to try to obtain favorable letters on his behalf.
Jawahar is expected to be deported after serving his prison term.
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Travis Kelce Was Caught Up In A Shocking Off-Field Scandal
A federal fraud case that touched Travis Kelce has now come to a close, with Siddharth Jawahar sentenced to 11 years in prison for running a Ponzi scheme that targeted investors and funneled away millions. Jawahar also was ordered to pay $31.35 million, and the case centered on claims that he misrepresented investments while using money from newer investors to cover older obligations and bankroll a lavish lifestyle.
Kelce was among the investors caught up in the scheme, a jarring off-field reminder that even high-profile athletes can get pulled into financial fraud. Jawahar pleaded guilty to three counts of wire fraud, and the sentence brings legal closure to a case that left investors sorting through the damage and the scale of what was lost. [Read more 🡒]