The case in the alleged real estate fraud will continue on to Dec. 11.
On Nov. 19, Santa Clara County Deputy District Attorney Kathy Wells, defendent Jill Silvey and her attorney, Cameron Watt met with Santa Clara County Superior Court Judge Philip Pennypacker so that he could hear the evidence in the case on and will make a decision on how much time Silvey should serve and restitution to be made, Wells said.
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.
"The judge decided that before he could make a decision he wants to hear from the victims," Wells said.
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, which will add a sentence enhancement, Wells said.
As for the $1.2 million that Silvey is alleged to have stolen, restitution will be ordered by the judge if/when she's convinced, Wells said.
"But the money may not be readily available," she says.
Once convicted, there will also be a civil judgement that can be enforced through garnished wages and liens on private property such as any homes Silvey may still own.
"Of course, if (she) is in prison, it's not likely," Wells said.
Silvey's next Santa Clara County Superior Court date is Dec. 11, 10:30 a.m. in department 30.
D.A. Investigator Jodi Thomas is investigating the case. Anyone with information is invited to contact Thomas at 408-792-2928 or email@example.com.
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