From OutKick · Alejandro Avila · · 1m 40s
Travis Kelce among athletes defrauded in $35M Ponzi scheme
Kansas City Chiefs tight end Travis Kelce was named a victim in a massive investment fraud that funneled millions into a single stock.
In brief
Kansas City Chiefs tight end Travis Kelce was named a victim in a massive investment fraud that funneled millions into a single stock. Professional athletes including Travis Kelce lost millions to an investment manager who concentrated client funds into one failing stock while using new investor money to cover losses…
Kelce named in $35M fraud case
Kansas City Chiefs tight end Travis Kelce was identified as a victim in a Ponzi scheme run by Texas investment manager Siddharth Jawahar, who raised over $35 million from investors between 2016 and 2023.
Manager concentrated funds in one stock
Instead of managing a diversified portfolio, Jawahar allocated roughly 99% of client capital into Philip Morris Pakistan, a position that tanked while he hid losses and issued falsified statements.
Jawahar used new money to pay old investors
As the Philip Morris Pakistan position declined, Jawahar used funds from new investors to pay out earlier clients, a classic Ponzi scheme structure that eventually collapsed.
Luxury spending on personal expenses
Jawahar actually invested only $10 million of the $35 million raised, spending the rest on private jet charters, luxury apartments in Austin and New York, high-end dining, and exclusive club memberships.
Other NBA players also victimized
Kelce was not alone. A 2021 Forbes report linked Swiftarc funds to NBA players Gary Harris, Tim Hardaway Jr., and Mason Plumlee, showing the scheme targeted multiple professional athletes.
Jawahar sentenced to 11 years
Jawahar pleaded guilty to three counts of wire fraud in January 2026 and was sentenced to 11 years in federal prison, with orders to pay $31.35 million in restitution.
The bottom line
Professional athletes including Travis Kelce lost millions to an investment manager who concentrated client funds into one failing stock while using new investor money to cover losses and fund his luxury lifestyle.
