Travis Kelce Named Victim in $35M Ponzi Scheme
Travis Kelce Named Victim in $35M Ponzi Scheme
The News
Kansas City Chiefs tight end Travis Kelce was named in federal court as one of the victims of a $35 million Ponzi scheme run by Siddharth Jawahar, who has been sentenced to 11 years in prison.
Kelce was identified in court on Tuesday as one of the people who lost money in the scheme, according to the Daily Mail.
Prosecutors say Jawahar spent stolen investor money on private jets and luxury hotels.
Timeline
Travis Kelce is named in federal court as one of the investors who lost money in Siddharth Jawahar's scheme.
Jawahar is sentenced to 11 years in prison over the $35 million fraud.
The Daily Mail and TMZ report Kelce's role as a victim, putting a household name on a case that had drawn little attention.
Reactions
Prosecutors described the operation as a multimillion-dollar fraud in which Jawahar took $35 million from investors and spent it on private jets and luxury hotels, according to the reports.
Neither the Daily Mail nor TMZ carries comment from Kelce or his representatives.
What's Next
Jawahar begins an 11-year federal prison term. Whether victims recover any of the $35 million was not addressed in the reports.
Poll
Is 11 years the right sentence for a $35 million Ponzi scheme?
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