Travis Kelce named as victim in $35 million Ponzi scheme as shocking investment connection emerges involving Chiefs star
Jawahar ran Swiftarc Capital LLC, a Texas based investment company that took in more than $35 million from investors between July 2016 and December 2023, according to the U.S. Prosecutors said he invested only about $10 million and eventually placed about 99% of client funds into Philip Morris Pakistan. On September 15, U.S. Bluestone sentenced him to 11 years in federal prison and ordered him to pay $31.35 million in restitution.
When that investment lost value, Jawahar did not tell investors what had happened, federal prosecutors said.
Department of Justice said Jawahar pleaded guilty to three counts of wire fraud in January after admitting his role in the investment fraud. Federal prosecutors said Jawahar also used investor money elsewhere. The Justice Department said he spent money on private plane travel, luxury hotels, expensive restaurants, clothing and high priced apartments. Prosecutors also said he used new investor money to repay earlier investors, helping make the business appear healthier than it really was.
Department of Justice. The U.S. District Judge Zachary M.
Instead, he gave them false information about their money and used funds from newer investors to pay earlier ones.
First Alert 4 reported that prosecutors did not provide more details about Kelce when asked about his connection to the case. Because of his profile as one of the NFL’s biggest stars, but the court record gives limited information about his personal involvement as an investor, kelce’s name received attention.
After his indictment, prosecutors said he tried to interfere with the investigation, including efforts to coach a victim’s statement and remove evidence from his phone. Jawahar also admitted misleading investors by promising that their money would be placed into certain companies when those investments were never made.