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International Business Times UK
International Business Times UK
Politics
Emmanuel Morilla

Travis Kelce Named Ponzi Victim as Fraudster Who Took $35M and Splurged on Jets Gets 11 Years

Kelce was reportedly an investor in the Swiftarc Venture Labs Fund (Credit: Chiefs/Instagram)

Travis Kelce has been formally identified in federal court as a victim of a $35 million (£25.9 million) Ponzi scheme run by investment operator Siddharth Jawahar, who has been jailed for 11 years for wire fraud.

Prosecutors said Jawahar raised the money from Swiftarc investors while secretly funnelling much of it into a single overseas stock and his own lavish spending on private jets and luxury travel.

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