A former San Jose real estate executive has been sentenced to 18 months in federal prison for defrauding more than 20 investors of over $2.2 million by concealing his company’s financial troubles, federal prosecutors said.
Sanjeev Acharya, 58, of San Jose, was sentenced Wednesday for wire fraud and a financial transaction involving money obtained through fraud, the U.S. Attorney’s Office for the Northern District of California said in a statement.
Acharya was the president and CEO of SiliconSage Builders and related companies, which supported investments in large real estate developments across the Bay Area. He personally solicited investments to fund the projects, according to his plea agreement.
Federal prosecutors said Acharya misled more than 20 investors between March and October 2020, by failing to disclose that SiliconSage was heavily in debt and facing serious cash flow problems. The company was struggling financially in part because of the COVID-19 pandemic and needed new investments to stay afloat, according to the plea agreement.
The investors lost more than $2.2 million as a result of the fraud, prosecutors said.
“Behind these losses are individuals and families whose retirement plans, educational opportunities, and financial security were put at risk,” said John Abram, acting special agent in charge of the IRS Criminal Investigation San Francisco Field Office.
Acharya was charged in September 2025 and pleaded guilty in January 2026 to wire fraud and engaging in a monetary transaction involving property derived from fraud.
Besides the prison sentence, District Judge Charles R. Breyer ordered Acharya to serve two years of supervised release and pay $2.25 million in restitution to victims.
Acharya is scheduled to begin serving his sentence on Jan. 9, 2027.