$35 Million Ponzi Scheme Defrauds 64 Victims Including Travis Kelce

A Texas investment manager has been sentenced to 11 years in federal prison for operating a $35 million Ponzi scheme that defrauded dozens of investors. On September 15, U.S. District Judge Zachary M. Bluestone in St. Louis sentenced Siddharth Jawahar, 38, founder of Texas-based investment company Swiftarc Capital LLC, following his guilty plea to three wire fraud counts.

Jawahar’s prison sentence was accompanied by a massive financial penalty. The judge separately ordered him to pay $31.35 million in restitution to victims. During sentencing, Bluestone highlighted the «enormous» financial losses and lengthy duration of the fraud, while echoing one victim who said Jawahar had «weaponized» the trust investors had placed in him.

Federal prosecutors said 64 people across Missouri and several other states were victimized by Jawahar’s operation. Among them was Kansas City Chiefs tight end Travis Kelce, whom a prosecutor specifically identified in open court during sentencing. Authorities, however, have not revealed exactly how much money Kelce invested through Jawahar or how much he ultimately lost.

Kelce’s connection to Jawahar’s investment business had surfaced years before the sentencing. A 2021 Forbes profile identified the NFL star as an investor in the Swiftarc Venture Labs Fund. NBA player Gary Harris was also associated with the fund in that earlier reporting, although prosecutors have declined to publicly discuss the individual circumstances surrounding Jawahar’s victims.

Between approximately July 2016 and December 2023, prosecutors said Jawahar collected more than $35 million from investors through Swiftarc. Yet only around $10 million was actually placed into investments. Authorities said Jawahar instead relied partly on incoming investor money to satisfy earlier investors, creating the appearance that the operation was generating legitimate returns while losses accumulated behind the scenes.

Prosecutors said Jawahar eventually concentrated approximately 99% of client funds in Philip Morris Pakistan. When that investment declined substantially in value, investors allegedly were not given an accurate picture of what had happened. Jawahar instead continued presenting accounts as profitable while accepting additional money, helping keep the investment operation functioning despite its deteriorating underlying financial position.

Millions of dollars entrusted to Jawahar were also diverted toward his personal expenses, according to federal authorities. Prosecutors described spending that included private-plane travel, luxury hotels, expensive restaurants, shopping trips and private-club memberships. Investor money also helped finance luxury apartments in Austin, Texas, and New York City while clients believed their capital was being put to work in investments.

Jawahar’s problems with authorities began before the federal criminal case reached its conclusion. In June 2022, the Texas State Securities Board revoked Swiftarc Capital’s authority to conduct investment activities and ordered Jawahar to «cease and desist from engaging in fraud.» Prosecutors said he nevertheless continued soliciting and receiving investor money after regulators had taken action against his company.

Prosecutors also accused Jawahar of trying to interfere with the investigation after he was indicted. According to the Justice Department, he attempted to persuade a victim to provide favorable information about him to the FBI. Authorities also said he instructed his sister to remotely wipe his iPhone, an apparent attempt to destroy or conceal evidence stored on the device.

Despite being publicly identified as one of Jawahar’s 64 victims, Kelce has not publicly discussed the fraud or revealed his financial losses. His representatives did not immediately respond to requests for comment following the sentencing. Prosecutors likewise declined to elaborate on his individual circumstances, leaving the precise amount invested or lost by the Chiefs star undisclosed.

Jawahar pleaded guilty in January 2026 to three counts of wire fraud, bringing a years-long federal investigation toward its conclusion. His 11-year prison sentence now accompanies a $31.35 million restitution obligation covering losses suffered by victims. The case ultimately exposed how an investment operation attracting wealthy and prominent clients, including Kelce, concealed massive losses for years.