A San Diego man with a long history of fraud is back in custody after federal probation officers say he fired up a fresh investment scheme while he was supposed to be quietly finishing home confinement in Sacramento. Authorities say 57-year-old Jaswant “Jason” Singh Gill was arrested Tuesday at his sister’s house and is accused of using a shell company to recruit investors even though he was barred from working with securities. Court filings note that Gill had been under tight supervision following earlier federal litigation and is now being held while officials decide what to do next.
Arrest and new allegations
Prosecutors say the newest venture kicked off in May 2024 under the name Kismet Capital Partners, a firm that state records show was registered in October 2023 and later switched to a Sacramento address, as reported by The Sacramento Bee. According to court documents, Gill advertised investment services and brought in clients, and prosecutors say one investor alone lost nearly $800,000 while an earlier San Diego operation allegedly pulled in millions. The same filings reviewed by the paper accuse Gill of diverting investor cash to pay third parties and cover personal spending.
Federal case history
Gill has already spent years tangled in securities cases. The Securities and Exchange Commission previously filed civil claims tied to his companies, and a related criminal case ended with guilty pleas in federal court. Public records show Gill and entities such as JSG Capital Investments were at the center of those earlier matters, with the filings collected in federal docket records and SEC enforcement listings, according to the SEC's enforcement notices.
Probation report and supervision
A federal probation report submitted late last month, prosecutors say, raised red flags about Gill’s claimed employment and detailed spending that was allegedly covered with investor funds, including restaurant bills, luxury purchases and the cost of a personal driver. Probation officer Miriam Olea recommended that Gill remain in custody without bail, and court records show he has been charged with violating an August 2024 probation order that barred him from handling investments or trading stocks, as reported by The Sacramento Bee. The filings say the alleged misconduct continued while Gill was on home confinement at his sister’s residence in Sacramento.
What’s next
Gill is currently being held at the Sacramento County Main Jail, which is the county detention facility listed at 651 I Street in downtown Sacramento, while federal and probation officials work through the paperwork and prosecutors decide whether to bring new charges, according to county facility information. No date has been set yet for his next court appearance, and if prosecutors decide to pursue additional wire-fraud counts he could face more federal exposure on top of his prior sentence, according to public dockets and enforcement records. Investigators say they are still following the money trail and trying to identify any additional investors who may have been caught up in the alleged scheme.
