A federal judge on Tuesday sentenced Siddharth Jawahar, 38, to 11 years in prison for running a $35 million Ponzi scheme that defrauded at least 64 investors, including Kansas City Chiefs tight end Travis Kelce, prosecutors confirmed. The U.S. Attorney’s Office for the Eastern District of Missouri also ordered Jawahar to pay $31.35 million in restitution to victims.
During the sentencing hearing in St. Louis, a prosecutor named Kelce among the victims, though no further details about his involvement were disclosed. Representatives for Kelce did not respond to requests for comment. Jawahar, who pleaded guilty to three counts of wire fraud in January, operated Swiftarc Capital LLC, a Texas-based investment firm that accepted funds from clients between July 2016 and December 2023.
Core Details of the Scheme
Federal prosecutors described Jawahar’s operation as a classic Ponzi scheme, where funds from new investors were used to pay earlier ones while Jawahar allegedly misappropriated the rest for personal expenses. According to court documents, Jawahar invested only $10 million of the $35 million raised, with the remaining funds spent on private jets, luxury hotels, upscale apartments in Austin and New York, private club memberships, and high-end dining. Prosecutors also noted that Jawahar concentrated 99% of client funds into a single stock—Philip Morris Pakistan—which later declined in value, though investors were not informed of the losses.
Jawahar’s Background and Legal Proceedings
Jawahar, who federal prosecutors described as undocumented, pleaded guilty in January to wire fraud. His attorney characterized him as a “very good man” who “made some very serious mistakes and is taking ownership of all of it.” During the sentencing, U.S. District Judge Zachary Bluestone imposed the maximum penalty allowed under the law. Jawahar’s attorney did not immediately respond to requests for comment.
Athletes and High-Profile Investors Identified
In addition to Kelce, prosecutors identified 63 other victims in the scheme, though specific names and financial losses remain undisclosed. A 2021 Forbes report previously linked Swiftarc Capital to several professional athletes, including NBA players Tim Hardaway Jr., Mason Plumlee, and Gary Harris, though it is unclear whether any of them were also named as victims in the case. The Justice Department’s news release described Jawahar as an illegal immigrant, a detail included in official accounts of the case.
Ongoing Investigations and Unanswered Questions
Federal authorities confirmed that victim impact statements in the case are sealed, and prosecutors declined to comment on individual losses. The U.S. Attorney’s Office stated that Jawahar attempted to coerce a victim into providing a favorable statement and sought to have his sister wipe his iPhone after his indictment. No further details about Kelce’s involvement, including the amount he invested or lost, have been made public.
Kelce, who recently married global pop star Taylor Swift, is entering his 14th NFL season after signing a three-year contract extension with the Chiefs worth up to $57.735 million. The timing of the revelation has drawn public attention, though neither Kelce nor Swift has publicly addressed the matter.