Two Oregon men have found themselves in hot water after being indicted on multiple counts of financial crime. Robert D. Christensen of Sherwood and Anthony M. Matic of Damascus stand accused of running a scheme that duped investors and lenders out of over $18 million. In a recent unsealing of documents in federal court, the duo faces charges for conspiracy to commit wire fraud, wire fraud, and money laundering, with the justice wheels starting to turn.
As detailed by the U.S. Attorney's Office, District of Oregon, Christensen and Matic, aged 54 and 55 respectively, allegedly convinced investors to pour money into a pump-up plan of buying and renovating undervalued houses from January 2019 to June 2023. By renovating and renting these properties, or so they promised, the investment was supposed to bloom, giving back to the investors their principal with interest rates between eight to fifteen percent and a large lump sum, all within a dreamy span of 30 to 90 days.
However, when their real estate dealings began to crumble almost immediately, the pair, desperate to keep their venture afloat, began an age-old shuffle of using fresh investments to pay off earlier backers, ensnared in their own web of deceit. By December 2020, when new investor funds grew scarce, Christensen and Matic were alleged to have launched a separate scheme, presenting commercial lenders with loan applications fattened with false financial statements to procure millions in loans.
Combining both fraudulent tactics, Christensen and Matic managed to swindle more than $11 million from individual investors and over $7 million from commercial lenders. Making their first court appearance, the indictment announced by the U.S. Attorney's Office informs that the defendants pleaded not guilty and got released on conditions, with a jury trial slated for October 29. If convicted for these financial misdeeds, the charges could land them up to 20 years for fraud and another 10 years for money laundering with hefty fines.
The case, investigated by the FBI and IRS Criminal Investigation, sees Assistant U.S. Attorney Robert Trisotto at the helm of the prosecution. It is a reminder that beneath the veneer of legitimate business operations, sometimes lurks a dark underbelly of fraud and deceit. And while an indictment is not a conviction, and the accused are deemed innocent until proven guilty, the shadow of potential federal prison time looms over Christensen and Matic as they await their trial.
