Crazy Money! Travis Kelce – Victim of a Ponzi Scheme

It’s Crazy Money Day! 

Kansas City Chiefs star Travis Kelce was one of 64 victims of a Ponzi scheme. The 38-year-old founder of Swift Arc Capital collected more than $35 million from investors, but he invested only $10 million. Then, much of the remaining money was used to repay earlier investors and finance an extravagant lifestyle: private jets, luxury apartments, hotels, and restaurants. Losses were concealed, so investors were unaware. Kelce’s individual losses have not been disclosed at the time of this recording. The founder pleaded guilty to three counts of wire fraud.

Good stewardship requires more than investing your money. It requires understanding who you’re investing with. Proverbs 14:15 says, “The simple believe anything, but the prudent give thought to their steps.” Never invest in something simply because a friend recommends it, a wealthy person uses it, or someone promises impressive returns.

• Verify the advisor and investment through regulators and understand exactly where your money goes. 

• Learn how and where your money is being held. 

• Look for independent statements and audits. 

• Question the promise of high returns with little or no risk. 

• Question unusually consistent performance. 

• Never surrender oversight simply because you trust someone’s personality. 

• Demand and verify independent documentation, ask questions, and be willing to walk away when answers aren’t clear.

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