Travis Kelce was the Kansas City Chiefs' leading receiver during their impressive Week 1 win over the Denver Broncos, but he found himself making headlines for other reasons following the game.
Kelce was listed by prosecutors as a victim of a multi-million-dollar Ponzi scheme that was prosecuted in St. Louis, according to a St Louis-based KMOV investigative reporter who was in the courtroom when his name was read
.Kelce has not yet addressed the case, and it isn't clear when or if he will.
Here's what to know about the situation.
Full details of Ponzi scheme that victimized Travis Kelce, others
Little was said about Kelce in court, other than him being named among at least 64 victims in the fraud case, according to the report.
Kelce's name is not included in the indictment or judgement in the case, both of which
were obtained by USA TODAY Sports. Victim impact statements in the case were sealed, and the details of how much Kelce lost as part of the scheme were not disclosed.
Kelce was listed as an investor in a fund created by Swiftarc, which was founded by the defendant in the case, Siddarth Jawahar, according to a 2021 Forbes article. Basketball players Tim Hardaway Jr., Gary Harris and Mason Plumlee were also listed as investors in the fund by Forbes, but it wasn't immediately clear if they were also victims of the fraud scheme.
Jawahar "took tens of millions of dollars from his investors" instead of making promised investments on their behalf, as the indictment obtained by USA TODAY Sports outlined.
Jawahar then used money acquired from new investors to pay off his previous investors. He then used the remainder to fund "extravagant lifestyle expenses, including payments for flights on private planes, stays at luxury hotels, and expensive outings at lavish restaurants."
Jawahar, 38, pleaded guilty to three counts of wire fraud, according to court documents obtained by USA TODAY Sports. He was sentenced by U.S. District Judge Zachary M. Bluestone to 11 years in prison and will also be required to pay $31.35 million in restitution to his victims.
This article originally appeared on USA TODAY: Travis Kelce was victimized by a Ponzi scheme. Here's what to know about it
