Bay Area Real Estate CEO Sentenced To Prison For Defrauding Investors

SAN FRANCISCO - Sanjeev Acharya was sentenced today to 18 months in federal prison for wire fraud and money laundering. U.S. District Judge Charles R. Breyer handed down the sentence.

Acharya, 58, of San Jose, was charged on September 5, 2025. Acharya pleaded guilty on January 6, 2026, to wire fraud and to engaging in a monetary transaction with property derived from fraud. As stated in the plea agreement, Acharya was the President and CEO of SiliconSage Builders and a number of related entities. SiliconSage was a vertically integrated development and construction company that supported investments in numerous large, multi-unit, multi-use real estate projects in the Bay Area. Acharya personally solicited investments from investors to fund these real estate projects.

According to the plea agreement, starting in March 2020 and continuing to October 26, 2020, Acharya devised and participated in a scheme to defraud investors. Due in part to COVID-19, Acharya's business, SiliconSage was in significant debt and struggling financially. SiliconSage required new investments to survive. Acharya personally solicited investors to invest in SiliconSage, but he deceived investors by not telling them about SiliconSage's true financial situation. Acharya hid from investors that SiliconSage was in significant debt and faced serious cash flow shortfalls. As stated in his plea agreement, Acharya knew that the SiliconSage enterprise was in financial trouble and he did not tell investors about SiliconSage's true financial situation while trying to raise money from them. During the period of his fraud scheme, Acharya deceived more than 20 investors, who lost more than $2.2 million as a result of Acharya's fraud.

"Financial difficulties are never an excuse to deceive investors, said United States Attorney Craig H. Missakian. "Mr. Acharya's prison sentence holds him accountable for his fraudulent conduct and sends a clear message that those who exploit investors for financial gain will face serious consequences, including jail time. My office remains committed to protecting investors and prosecuting fraud."

"This sentence holds Mr. Acharya accountable for misleading investors and violating the trust they placed in him," said John Abram, Acting Special Agent in Charge, Internal Revenue Service Criminal Investigation (IRS-CI) San Francisco Field Office. "Financial fraud is never just about money. Behind these losses are individuals and families whose retirement plans, educational opportunities, and financial security were put at risk. This case demonstrates the real and lasting consequences of deception, and IRS-CI will continue working alongside our law enforcement partners to protect investors and pursue those who seek to profit through fraud."

In addition to the prison term, Judge Breyer also sentenced Acharya to a two-year period of supervised release and ordered that Acharya pay $2,253,219.84 in restitution to victims. Acharya will begin serving the sentence on January 9, 2027.

Assistant U.S. Attorney Christiaan Highsmith is prosecuting the case with the assistance of Janice Pagsanjan, Mimi Lam, and Kevin Costello. The prosecution is the result of an investigation by IRS-CI.