<p id=”par-1_43″><a href=”https://www.cheatsheet.com/news/travis-kelce-completely-changed-now-married-taylor-swift.html/”>Travis Kelce</a> is one of the victims of <a href=”https://www.cheatsheet.com/news/kevin-bacons-net-worth-plummeted-bernie-madoff-ponzi-scheme.html/”>a Ponzi scheme</a> that took $35 million from investors. In court, the prosecutor named Kelce as a victim while Siddharth Jawahar was sentenced to 11 years in prison. Here’s what is known about this scheme.</p>
<h2 class=”wp-block-heading” id=”h-travis-kelce-was-one-of-the-victims-of-a-large-ponzi-scheme”>Travis Kelce was one of the victims of a large Ponzi scheme</h2>
<p id=”par-2_57″>On Tuesday, Jawahar received an 11-year prison sentence for a Ponzi scheme that collected over $35 million from investors. He ran the Texas-based investment company Swiftarc Capital LLC, which began taking money from investors over a decade ago. Jawahar placed all this money in a single investment. When it began losing value, he failed to inform investors.</p>
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<p id=”par-3_73″>He used the money to repay old investors, stay in luxury hotels, <a href=”https://www.cheatsheet.com/news/sean-diddy-combs-private-jet-much-likely-earned-rentals-sale.html/”>fly in private jets</a>, eat at fancy restaurants, and go on expensive shopping sprees. Per <a href=”https://abcnews.com/GMA/News/investment-adviser-defrauded-nfls-travis-kelce-sentenced-11/story?id=136499152″ target=”_blank” rel=”noreferrer noopener”>ABC News</a>, the U.S. Attorney said Jawahar “tried to obstruct justice by trying to coach a victim into giving a favorable statement to the FBI, lying about his immigration status and finances, and trying to get his sister to remotely wipe his iPhone to hide evidence.”</p>
<p id=”par-4_39″>During the trial, the prosecutor mentioned that Kelce was one of many high-profile victims. It is not clear how much he invested, however. U.S. District Court Judge Zachary Bluestone ordered Jawahar to <a href=”https://www.cheatsheet.com/news/madoff-monster-wall-street-bernie-madoff-victims-compensated.html/”>repay $31 million in restitution</a> to victims.</p>