Previously Convicted Sacramento Con Man Admits to Another Fraud Scheme
Faces a lengthy sentence
A Sacramento man pleaded guilty last week in U.S. Federal Court in Sacramento to federal wire fraud charges after orchestrating an investment scheme that defrauded a victim of more than $777,000.
Jaswant Singh Gill, 57, admitted to one count of wire fraud in connection with his role as the Chief Executive Officer of Kismet Capital Partners LLC. Court documents showed Gill operated the scheme between May 2024 and June 2025, using false representations and promises of high returns to lure investors into the fraudulent firm.
Federal prosecutors stated that Gill secured funds by falsely claiming Kismet Capital was a legitimate firm with approximately 20 employees. He promised investors that their capital would be used exclusively for investment purposes and guaranteed a specific monthly rate of return.
During the course of the scheme, Gill provided false assurances to his victims that their investments were growing, even as they were diverted for personal use.
One victim investor sent approximately $777,470 to Gill through cash and wire transfers. To obtain the funds given to Gill, the victim relied on a variety of sources, including personal loans, a home equity line of credit, and an IRA loan.
In addition to the direct transfers, Gill used at least one of the victim’s credit cards to obtain unauthorized cash advances.
The investigation, conducted by the Federal Bureau of Investigation (FBI), found that Gill did not invest the capital as promised. Instead, he used the stolen funds to finance a lavish lifestyle, which included high-end restaurant dinners, the services of a personal driver, and the purchase of various luxury items.
At the time of the fraud, Gill was already on federal supervised release following a 2018 conviction for wire fraud in another federal judicial district. Assistant U.S. Attorney Nchekube Onyima is prosecuting the current case.
Gill is scheduled to be sentenced on April 2, 2026, by Chief U.S. District Judge Troy L. Nunley. He faces a maximum statutory penalty of 20 years in federal prison and a $250,000 fine.
