Bay Area developer fraud: Public employee, teacher pensions at risk

Bay Area developer fraud: Public employee, teacher pensions at risk

3 years ago
Anonymous $BH0TGXkyPe

https://www.siliconvalley.com/2021/10/05/develop-home-fraud-public-pension-risk-real-estate-fremont-san-jose/

SAN JOSE — Financial and construction woes have jolted San Jose and Fremont residential projects linked to a failed developer and might imperil teacher and public employee pension funds invested in the properties.

The housing projects that are hobbled by the problems created by Silicon Sage Builders and the company’s founder Sanjeev Acharya are The Almaden, a 91-unit residential complex on Almaden Road in San Jose; and Savant at Irvington, a 93-unit residential project on Osgood Road in Fremont.