A charged with grand theft, forgery and false recordation is due back in court Sept. 11 at 2:00 p.m.
Jill Silvey, 51, was arrested on June 27 in her San Jose home on charges she defrauded or falsely used identities of 27 individuals between 2005 and 2011. She is accused of stealing $1.214 million by asking investors to loan money to to borrowers who could not qualify for traditional loans.
According to Deputy District Attorney Paul Colin, 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.
Court documents suggest there may be additional victims. Several of the victims are at least 65 years of age, so several elder fraud counts are included in the charges, Colin said.
According to court documents, alleged victims said Silvey came across as " very trusting."
Her husband had no idea, the documents read.
Colin affirmed this, stating, "Our evidence shows that her alleged criminal acts were done by her alone."
If convicted, Silvey faces up to 31 years in prison. She will appear in Santa Clara County Superior Court in San Jose, Sept. 11 at 2:00 p.m. in Department 23.
