San Diego fraudster moves to Sacramento, is arrested for alleged new scam
A man who spent the better part of a decade in federal prison after being convicted of running a phony investment scheme in San Diego was arrested Tuesday for allegedly starting up a similar scam while on home confinement at his sister’s house in Sacramento, court documents show.
Jaswant “Jason” Singh Gill, 57, faces a new charge of felony wire fraud for a scheme prosecutors said he started in May 2024 while he was on house arrest to serve the last several months of a nearly 9-year federal sentence, documents in Sacramento federal court show.
He was also charged with violating the terms of his August 2024 probation, which barred him from working with investments or stock trading, as well as engaging in criminal activity, court documents show.
Gill pleaded guilty in 2017 to more than a dozen counts of wire fraud through a company he called JSG Capital Investments. He was sentenced to 130 months in federal custody after running the San Diego-based scam, which prosecutors said netted him and a co-conspirator more than $5 million.
In October 2023, while Gill was still in federal Bureau of Prisons custody, a company called Kismet Capital Partners was registered with the California Secretary of State, prosecutors said and state records confirm. The address was initially listed in Los Angeles but later changed to Sacramento.
Prosecutors said Gill served as the CEO of the new company, and controlled its bank accounts. In May 2024, while Gill was on house arrest in a program designed to transition prisoners about to exit custody, the company became active, and Gill marketed his investment services to potential investors, court documents said.
Within a year, he had recruited several customers, bilking one out of nearly $800,000, prosecutors said. He used the money to pay for dinners, luxury items and a personal driver, a federal probation report filed with the court said.
Gill also allegedly used funds to make payments to third parties who were not named, and also pay down the third parties’ credit cards, the probation report said.
All the while, he told federal probation officials he was working full time at a 7-Eleven and a restaurant.
“Mr. Gill has not been forthcoming in his employment and began to engage in fraudulent behavior while in custody and continuing while on supervised release,” the probation report filed late last month in federal court said. The probation officer, Miriam Olea, recommended that he be held without bail.
Gill is being held in the Sacramento County Main Jail, records show. His next court appearance has not yet been scheduled.
