Travis Kelce Defrauded In Ponzi Scheme

A federal judge sentenced investment manager Siddharth Jawahar to 11 years in prison for running a multimillion-dollar Ponzi scheme. Prosecutors identified Kansas City Chiefs tight end Travis Kelce as one victim, but did not disclose his losses. Jawahar ran Texas-based Swiftarc Capital LLC, taking in more than $35 million from investors while investing only about $10 million. He pleaded guilty in January to three wire-fraud counts after prosecutors dropped an investment-adviser-fraud count. Prosecutors said Jawahar put nearly all client money into Philip Morris Pakistan, then hid losses from investors. They also said he spent client funds on private jets, luxury housing, clubs, clothing and dining. Kelce’s representatives did not immediately comment.