Travis Kelce’s loss.(Image via Getty Images)
An Indian national, 38 year old Siddharth Jawahar has been accused of defrauding several high profile celebrities, including Travis Kelce, and has now been sentenced to 11 years in prison. As per reports, the company owned by Siddharth Jawahar, the Swiftarc Capital, had already received cancellation of their registration by Texas securities regulators in June 2022. The 38 year old Indian national was also ordered to stop his fraudulent activities but not sentenced to prison. Though the company’s registration was cancelled, Siddharth Jawahar continued operations for 18 months after the indictment and continued to take funds from new investors as he promised them profitable returns. As per reports, a total of $35 million was defrauded by Siddharth Jawahar. There are also reports that hint he was staying in the country illegally since 2005 but it has not been confirmed by authorities yet. Join conversation Share your thoughts in the comments Be respectful · TOI community guidelines The 38 year old alleged scammer reportedly went on luxurious shopping sprees, bought expensive mansions, luxurious cars and maintained a lavish lifestyle while regularly visiting high profile clubs, gyms and restaurants in New York City.
Because the warning made to the company was public, as per, mergers and acquisitions attorney Kevin Henderson, celebrities including Travis Kelce could have avoided being scammed. Travis Kelce, the Kansas City Chiefs’ tight end, has reportedly lost millions in a scam after the company he was investing in turned out to be fraudulent. Amid all the mess, more details have been released. At this point in time, it has not been confirmed how much the Super Bowl champion and the Kansas City Chiefs’ tight end Travis Kelce ended up losing in the alleged scam.
Mergers and acquisitions attorney Kevin Henderson said, “It wasn’t sealed or confidential. It was a public enforcement order posted on a state agency website, free to anyone who typed his name into a search box…” Mergers and acquisitions attorney Kevin Henderson added, “Affinity fraud gets otherwise smart but unsuspecting people because it comes from trusted sources…” Mergers and acquisitions attorney Kevin Henderson continued, “A teammate, a church member, your mastermind. Somebody you trust vouches for the deal and that vouch replaces due diligence. The funds which were invested were allegedly used by Siddharth Jawahar to fund his lavish lifestyle across New York city and Austin, Texas. All the money came from the several millions of funds which were invested into his company, the Swiftarc Capital, by several high profile celebrities and players to make profitable returns from it.
Travis Kelce has not responded to the legal mess as he focuses on his performance. Get the latest Sports News and Live updates. Download the TOI app.