Photograph: Mike Carlson/Getty Pictures
Ponzi schemer Siddharth Jawahar was sentenced to 11 years in jail on Tuesday, and in line with the prosecutor, Travis Kelce was considered one of his victims. Apparently not all the things can come up Kelce each time.
Jawahar reportedly stole $35 million from buyers by means of his Texas-based funding firm known as Swiftarc Capital LLC, per The Guardian, although it’s unknown how a lot Kelce personally invested. Jawahar allegedly used shoppers’ cash to fund an “extravagant life-style” and really invested lower than a 3rd of what he was given. Although Kelce was the one movie star named by the prosecutor, victims might embody different athletes, akin to NBA participant Gary Harris, who mentioned investing with Jawahar in a 2021 Forbes interview. Kelce is hardly the primary movie star to fall prey to a Ponzi scheme. Bernie Madoff’s victims included Steven Spielberg, Kevin Bacon and Kyra Sedgewick, and John Malkovich, to call only a few.
Fortunately, the Ponzi scheme doesn’t appear to have put an enormous damper on Kelce’s life not too long ago. He and Taylor Swift have been nonetheless in a position to throw their epic Madison Sq. Backyard wedding ceremony over the summer time. One can solely hope everybody taken in by this scheme got here out so fortunate.
Keep in contact.
The most recent in fashion, self, tradition, and energy in your inbox.
Vox Media, LLC Phrases and Privateness Discover