Alleged Real Estate Fraud Case Moves Forward

Nearly a dozen of the alleged victims in an allege real estate fraud case showed up to a Santa Clara County Superior Court hearing Tuesday and left without any closure.

Former Campbell real estate agent Jill Silvey, dressed in an orange jump suit and wearing her hair tied back in a pony tail did not cast a single glance at the defendants. She did not enter a plea at the April 10 hearing either. 

Santa Clara County Superior Court Judge Philip Pennypacker did, however give a 15-year-top on this particular case, which, now referred to a pre-plea probation report, will resume in six weeks May 23, 9:00 a.m.

"At that time, there will either be a plea as charged or the case will be set for a preliminary hearing," Pennypacker said to the court.

Silvey, 51, was arrested on June 27 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.

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.

Depending on the findings by the probation office, Silvey can potentially be sentenced between zero and 15 years, Santa Clara County Deputy District Attorney Kathy Wells told the defendants outside of chambers.

The next court hearing will take place on May 23, 9:00 a.m. at Santa Clara Superior Court, department 23.

Related articles:

• Former Campbell Real Estate Agent Jill Silvey Appears in Court Dec. 11
• Former Campbell Real Estate Agent Accused in $1.2 Million Ponzi Scheme

Don’t be left out of the conversation in Campbell—Get our daily newsletter delivered | Post an event to our Calendar | Like us on Facebook | Follow us on Twitter | Follow us on Instagram | Start a blog