Travis Kelce among 64 people duped by Indian-origin man in $35-million Ponzi scheme
Travis Kelce, the husband of American pop star Taylor Swift, was among 64 people defrauded in a massive Ponzi scheme run by an Indian-origin businessman that took in more than USD 35 million (around Rs 336 crore), according to US court proceedings.
Kelce, 36, who plays as a tight end for the Kansas City Chiefs in the US-based National Football League (NFL), was identified as a victim during the sentencing hearing of accused Siddharth Jawahar in a federal court in St Louis on Tuesday.
Jawahar, 38, who was living in the US without legal status, was sentenced to 11 years in federal prison this week after pleading guilty to three counts of wire fraud. He was also ordered to pay USD 31.35 million (around Rs 301 crore) in restitution to his victims.
Prosecutors did not provide details about Kelce's involvement in the scheme or disclose how much he may have lost. It is unclear how much money, if any, Kelce lost in the scheme. A 2021 Forbes report had previously identified Kelce as an investor in a fund established by Jawahar's company, Swiftarc.
The US Attorney's Office said there were 64 victims in total.
Kelce had married Swift in a high-profile ceremony at New York's Madison Square Garden on July 3.ABOUT THE PONZI SCHEME
Jawahar ran Texas-based investment company Swiftarc Capital LLC. Prosecutors said he told clients that their money would be invested in a range of companies. Instead, he eventually concentrated nearly all of the client funds in a single overseas investment, Philip Morris Pakistan.
When that investment declined in value, Jawahar allegedly concealed the losses and continued telling investors that their money was generating profits, according to prosecutors. He then used money from newer investors to repay earlier clients -- the defining structure of a Ponzi scheme.
Between July 2016 and December 2023, Jawahar took in more than USD 35 million (around Rs 336 crore) from investors but invested only about USD 10 million (around Rs 96 crore), prosecutors said.
The remaining money was used in part to repay earlier investors and to fund what prosecutors described as an extravagant lifestyle, including private jet travel, luxury hotels, high-end apartments, private club memberships, shopping and expensive outings.
Jawahar was indicted in December 2023 and pleaded guilty in January to three counts of wire fraud. Prosecutors had initially charged him with an additional count of investment adviser fraud, which was dropped as part of the plea agreement.
According to court documents, Jawahar is from India and had been living in the US without legal status since 2005. Fox News reported that he was living in the US without legal status.
After his indictment, prosecutors accused Jawahar of attempting to interfere with the investigation. They said he tried to coach a victim into giving a favourable statement to the FBI, lied about his immigration status and finances, and asked his sister to remotely wipe his iPhone to conceal evidence.
Prosecutors also said Jawahar used investor money for personal consumption. Court filings detailed spending on private jets, luxury accommodation and memberships at private clubs.
US District Judge Zachary M Bluestone sentenced Jawahar to 11 years in prison and ordered him to pay USD 31.35 million (around Rs 301 crore) in restitution. The judge cited the scale of the losses and the duration of the fraud, while also noting that Jawahar had not begun repaying his victims.
Kelce's representatives have not publicly disclosed the amount involved in his investment or any individual loss. His identification in the case is solely as a victim; and there is no allegation of wrongdoing against him.- Ends(with inputs from Reuters, AP)Published By: Prateek ChakrabortyPublished On: Sep 17, 2026 10:33 IST
