Siddharth Jawahar gets 11 years in prison for fraud.
Kansas City Chiefs tight end Travis Kelce is among the victims of a Ponzi scheme that took in more than $35m from unsuspecting investors, a Missouri prosecutor said.
Television station KMOV reported that the prosecutor brought up Kelce’s name without further comment.
Jawahar was given more than $35m but invested only about $10m from July 2016 through December 2023, per the news release.
In July, Kelce married Taylor Swift, who had a net worth of $2.1bn on the day of their wedding, according to Forbes.
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How
Summarized version
Kelce is unlikely to be the only athlete involved in the Ponzi scheme. In July, Kelce married Taylor Swift according to Forbes.
Headline check
Headline as published: Chiefs star Travis Kelce is named among victims of $35m Ponzi scheme
All two things this headline claims are in the report.
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The article, shortened and in plain language
Siddharth Jawahar gets 11 years in prison for fraud.
Several pro athletes said to have invested in Swiftarc firm.
Kansas City Chiefs tight end Travis Kelce is among the victims of a Ponzi scheme that took in more than $35m from unsuspecting investors, a Missouri prosecutor said.
The US attorney’s office of the eastern district of Missouri said Jawahar pleaded guilty to three counts of wire fraud in US district court in St Louis in January.
Television station KMOV reported that the prosecutor brought up Kelce’s name without further comment.
According to a news release from the US attorney’s office, Jawahar ran a Texas-based investment company, Swiftarc Capital LLC, that in 2015 began taking money from investors.
Jawahar was given more than $35m but invested only about $10m from July 2016 through December 2023, per the news release.
Kelce, 36, is unlikely to be the only athlete involved in the Ponzi scheme.
In July, Kelce married Taylor Swift, who had a net worth of $2.1bn on the day of their wedding, according to Forbes.
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