Two Portland-area businessmen are headed to federal prison after what prosecutors describe as an $18 million real estate investment hustle that drained both mom-and-pop investors and commercial lenders. Robert D. Christensen of Sherwood was sentenced to 63 months, and Anthony M. Matic of Damascus received a 33-month term.
Sentencing And Pleas
According to KOIN, both men will also serve three years of supervised release once they leave prison. KOIN reports that Matic pleaded guilty in March 2025 and Christensen entered his guilty plea in May 2025.
Charges, Timeline And Losses
The U.S. Attorney’s Office says the scheme ran from January 2019 through June 2023, and that a federal grand jury indicted the pair in August 2024 on 21 counts, including conspiracy to commit wire fraud, wire fraud and money laundering. Prosecutors allege the defendants cheated individual investors out of more than $11 million and commercial lenders out of more than $7 million, for total losses topping $18 million. The indictment also says Christensen and Matic promised quick lump-sum payouts and double-digit interest to pull investors into the deal.
How Regulators And Prosecutors Describe The Operation
The Securities and Exchange Commission says Christensen and Matic raised money by selling unregistered promissory notes that touted high short-term returns, then used money from new investors to pay earlier backers. The SEC labeled that conduct "Ponzi-like." The agency also alleges investor funds helped cover vacations, casino trips and other personal spending. KOIN's summary of the sentencing memo notes that defense attorneys argued the business generated roughly $348,000 in peak annual rental revenue and held about $6 million in real estate at its height.
Civil Penalties And Enforcement
As the SEC outlined in its June 2023 release, the agency obtained settlements that, in its words, included "final judgments imposing requested permanent and conduct-based injunctions as well as $5,374,482 in disgorgement and prejudgment interest." Those civil judgments sit alongside the criminal prosecutions that are now sending Christensen and Matic to prison.
Local Fallout
The case has prompted fresh jitters among small investors and community lenders tied into Portland's fix-and-flip scene. Local coverage of the indictment and guilty pleas appeared in the Portland Business Journal, and August 2024 indictment coverage ran on Hoodline.
Legal Implications And Next Steps
With prison terms now imposed, remaining steps may include restitution hearings, additional civil litigation and follow-ups by regulators and investigators. The U.S. Attorney’s Office has laid out the statutory exposure for the charges in its filings, and federal authorities say they intend to keep pushing for remedies for investors and lenders harmed by the scheme.
The sentences cap a multiagency investigation by the FBI, IRS Criminal Investigation and the SEC, and highlight officials' focus on fraud in small-scale real estate offerings. Anyone who believes they were harmed in the matter is being urged to contact federal investigators or an attorney to explore possible civil remedies.
