Convicted Fraudster Commits New $777K Investment Scam

Jaswant Singh Gill, 57, of Sacramento, pleaded guilty to one count of wire fraud for running an investment scam that stole more than $777,000 from a victim, the U.S. Attorney’s Office for the Eastern District of California announced.

According to court documents, Gill was CEO of Kismet Capital Partners LLC between May 2024 and June 2025. He falsely claimed the company had about 20 employees and promised investors that their money would be used solely for investments with guaranteed monthly returns.

One victim, relying on Gill’s promises, sent $777,470 in cash and wire transfers, using personal loans, loans against an IRA, and a home equity line of credit. Gill also used the victim’s credit card for cash advances. Instead of investing the money, Gill spent the stolen funds on personal expenses, including restaurant dinners, a private driver, and luxury items. He continued to assure the victim that their investment was growing when it was not.

Court records show Gill carried out the scheme while on federal supervised release from a 2018 wire fraud conviction in another district.

Gill is scheduled to be sentenced on April 2, 2026, before Chief U.S. District Judge Troy L. Nunley. He faces up to 20 years in prison and a $250,000 fine, though the final sentence will be determined under federal sentencing guidelines.

In early January, US federal authorities charged four Pakistani nationals in connection with an alleged securities fraud scheme that prosecutors say generated approximately $41 million in illicit profits.