{"id":9569,"date":"2020-12-22T15:11:21","date_gmt":"2020-12-22T20:11:21","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9569"},"modified":"2020-12-22T15:11:21","modified_gmt":"2020-12-22T20:11:21","slug":"sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/","title":{"rendered":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9551 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg\" alt=\"On December 21, 2020, the Securities and Exchange Commission (SEC) filed a complaint and emergency action against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging a $119 million securities offering fraud.  Did You Invest In Silicon Sage Builders  Silicon Sage Builders and Acharya developed real estate projects in the San Francisco Bay area. The projects were financed in part by selling promissory notes and membership interests to retail investors, mostly members of the South Asian community in Northern California.  According to the SEC\u2019s complaint, since \u201cat least August 24, 2016, Silicon Sage Builders and all but one of its real estate development projects have not been profitable, because the property sales generated by its business have not generated enough cash to either return investor capital, pay returns to investors, or provide any income to Silicon Sage Builders.\u201d  Yet Silicon Sage Builders raised over $119 million from hundreds of investors through misrepresentations, omissions, and deceptions, the government says.  Acharya is alleged to have described his company and all its real estate projects as profitable, when all but one of them had cost overruns without the revenue to cover.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-1024x683.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-768x512.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-1536x1024.jpg 1536w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-2048x1366.jpg 2048w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-1000x667.jpg 1000w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>On December 21, 2020, the Securities and Exchange Commission (SEC) filed a complaint and emergency action against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging a $119 million securities offering fraud. <a href=\"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#more-9569\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 21, 2020, the Securities and Exchange Commission (SEC) filed a complaint and emergency action against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging a $119 million securities offering fraud. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[593,583],"tags":[],"class_list":["post-9569","post","type-post","status-publish","format-standard","hentry","category-ponzi-schemes","category-sec-actions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud &#8212;<\/title>\n<meta name=\"description\" content=\"The SEC filed a complaint against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging fraud.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud &#8212;\" \/>\n<meta name=\"twitter:description\" content=\"The SEC filed a complaint against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging fraud.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud &#8212;","description":"The SEC filed a complaint against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging fraud.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/","twitter_card":"summary_large_image","twitter_title":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud &#8212;","twitter_description":"The SEC filed a complaint against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging fraud.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud","datePublished":"2020-12-22T20:11:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/"},"wordCount":555,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg","articleSection":["Ponzi Schemes","SEC Actions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/","url":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/","name":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud &#8212;","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg","datePublished":"2020-12-22T20:11:21+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"The SEC filed a complaint against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging fraud.","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/12\/FiverrLosses-300x200.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/sec-alleges-silicon-sage-builders-engaged-in-real-estate-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Alleges Silicon Sage Builders Engaged in Real Estate Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/9569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=9569"}],"version-history":[{"count":1,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/9569\/revisions"}],"predecessor-version":[{"id":9570,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/9569\/revisions\/9570"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=9569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=9569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=9569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}