Former Campbell Real Estate Agent Sentenced to 15 Years in Prison

A case that began more than a year ago with family and friends losing their money, and trust to a close friend ended with a 15-year-prison sentence for the "elaborate Ponzi Scheme."

“The real loss to the victims was the emotional pain they suffered at the hands of Ms. Silvey,” said Deputy District Attorney Kathy Wells in a release. “Jill Silvey victimized her own family and close friends, stealing over two million dollars to keep her Ponzi scheme going while spending the victims’ life savings on lavish personal items.”

Judge Philip Pennypacker sentenced former real estate agent Jill Silvey on July 9, following her conviction earlier this year of 52 fraud-related felonies, a release by the District Attorney said. Along with a 15-year prison sentence, Silvey was also ordered to pay restitution to her victims.

Silvey, 51, was arrested on June 27, 2012 in her San Jose home on charges she defrauded or falsely used identities of more than 20 individuals between 2005 and 2011. She is accused of stealing $1.214 million by asking investors to loan money to borrowers who could not qualify for traditional loans.

Many of the victims in this case testified their personal experiences to the judge.

"I’ve been to church with Jill," Kirk Bibb said. "She sold us our home. She knew I had a young family. I’ve been in Jill’s house. I don’t know when she made the choice to make me a victim."

Bibb said, through tears and a shaky voice that he has twins in first grade and that because of what happened with Silvey, he cannot afford a tutor for his children. Silvey allegedly stole $70,000 from him.

(Read more of the testimonies here.)

According to court documents, Silvey would forge the names of supposed borrowers to create fake loan documents and deeds in order to convince investors that their money was secured by an interest in each fictitious borrower's real estate. 

Several of the named victims are at least 65 years of age, so elderly financial abuse counts are included in the charges.

• Former Friends, Family Testify Against Accused Real Estate Agent Jill Silvey
• Former Campbell Real Estate Agent Jill Silvey Appears in Court Jan. 15
• Former Campbell Real Estate Agent Jill Silvey Appears in Court Dec. 11
• Former Campbell Real Estate Agent's Case Continued
• Accused Real Estate Agent in Ponzi Scheme Does Not Enter Plea
• Former Campbell Real Estate Agent Accused in $1.2 Million Ponzi Scheme Due Back in Court Tuesday
• Accused Real Estate Agent Withholds Plea
• Former Campbell Real Estate Agent Accused in $1.2 Million Ponzi Scheme