Last Updated on January 15, 2026 by The HD Post Staff

CALIFORNIA – The U.S. Department of Justice (DOJ) announced January 15 that a California man pleaded guilty to one count of wire fraud for running an investment scam.

Court documents show that between May 2024 and June 2025, Jaswant Singh Gill, 57, of Sacramento, served as CEO of Kismet Capital Partners LLC.

Gill used Kismet Capital to carry out a scheme that defrauded investors through false representations and promises. He falsely told investors that Kismet Capital was an investment firm with roughly 20 employees.

He also falsely promised that investor funds would be used only for investments and would earn a specific monthly return.

Relying on these promises, an investor sent about $777,470 to Kismet via cash and wire transfers. The investor obtained the funds through personal loans, an IRA loan, and a home equity line of credit.

Gill also used at least one of the investor’s credit cards for cash advances.

Misappropriated funds used for personal expenses

Rather than investing the funds, Gill spent them on personal expenses, including restaurant dinners, a personal driver, and luxury items.

While misappropriating the investor’s funds, Gill falsely assured them that their investment was growing, when it was not.

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

Gill is scheduled for sentencing on April 2, 2026, before Chief U.S. District Judge Troy L. Nunley and faces a maximum penalty of 20 years in prison and a $250,000 fine.

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