Former SiliconSage CEO from San Jose sentenced to 18 months for defrauding investors
Sanjeev Acharya hid the real estate company's debts while raising money in 2020, prosecutors said. Investors lost more than $2.2 million.
SAN JOSE — Sanjeev Acharya, 58, of San Jose, the former president and CEO of SiliconSage Builders, was sentenced Oct. 28 to 18 months in federal prison for wire fraud and money laundering, the U.S. Attorney's Office for the Northern District of California said.
SiliconSage developed and built large housing and mixed-use projects around the Bay Area. From March to Oct. 26, 2020, Acharya asked people to invest in the company without telling them it was deep in debt and short of cash, according to his plea agreement. More than 20 investors lost more than $2.2 million, prosecutors said.
Acharya pleaded guilty Jan. 6 to wire fraud and to a money transaction using property gained through fraud. U.S. District Judge Charles R. Breyer also ordered two years of supervised release, or court-monitored time after prison, and $2,253,219.84 in restitution, or repayment, to the victims. Acharya is to begin his sentence Jan. 9, 2027.
The Internal Revenue Service's criminal investigation unit investigated the case.
Source: U.S. Attorney's Office, Northern District of California, news release, Oct. 28, 2026