Home / Crime and Justice / Taylor Swift's Husband Loses Millions in Fraud
Taylor Swift's Husband Loses Millions in Fraud
17 Sep
Summary
- Travis Kelce was a victim in a $35 million Ponzi scheme.
- Siddharth Jawahar was sentenced to 11 years for the fraud.
- The scheme involved poor investments and lying to investors.
Kansas City Chiefs tight end Travis Kelce was reportedly a victim in a multimillion-dollar Ponzi scheme, with his name surfacing in federal court proceedings. Siddharth Jawahar, the alleged operator of Swiftarc Capital LLC, has been sentenced to 11 years in prison for perpetrating the fraud.
The scheme reportedly raised over USD 35 million from investors. Jawahar pleaded guilty to wire fraud and was ordered to pay more than USD 31 million in restitution. Prosecutors confirmed Kelce was a victim and not accused of any wrongdoing.
According to reports, Jawahar allegedly invested nearly all client funds into a single, underperforming venture. He then reportedly misrepresented the investment's performance and used new money to cover earlier payouts. Jawahar also allegedly financed an extravagant lifestyle with investors' funds.
This financial entanglement for Kelce occurs during a busy period, marked by his recent marriage to pop superstar Taylor Swift and his ongoing NFL season. He also recently purchased a new mansion in Ohio.
