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Travis Kelce named among victims in $35 million Ponzi scheme

Travis Kelce named among victims in $35 million Ponzi scheme
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Travis Kelce has been named as a victim in a $35 million (£26 million) Ponzi scheme.

In a Missouri court on Tuesday, prosecutors mentioned the NFL star's name as one of the people duped by the mastermind of the scheme, Siddharth Jawahar, according to local news outlets KMOV and WENG.

Jawahar was sentenced to 11 years in prison, according to a press release from the US Attorney's Office, Eastern District of Missouri, as reported by Page Six.

He pleaded guilty to three counts of wire fraud in January and was ordered to pay $31.35 million (£23.43 million) in restitution to his victims.

Kelce, who is famously married to pop star Taylor Swift, was an investor in Swiftarc Venture Labs Fund, created by the investment company Swiftarc Capital LLC, which Jawahar co-founded, according to a 2021 Forbes article.

In 2015, Jawahar began investing client funds, but when their value began to decline, Jawahar allegedly lied to investors, falsely claiming that they were making profits.

The businessman allegedly used the money from investors to pay back older investors and fund his "extravagant lifestyle", which included "travel on private jets, stays at luxury hotels, a luxury apartment in Austin and New York City, memberships at multiple private clubs across the country, spending sprees at clothing stores and expensive outings at fancy restaurants".

He also allegedly lied about his immigration status.

Kelce has not spoken publicly about the case.

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