Oregon Real Estate Tycoon Admits to $18 Million Ponzi Scheme Swindling Investors and Lenders

Co-owner of an Oregon real estate investment company, Robert D. Christensen (55) of Sherwood, yesterday pleaded guilty to committing $18 million fraud in a Ponzi-like scheme with his business partner, according to a news release from the Oregon U.S. Attorney’s Office.

They Convinced Investors to Fund Undervalued Residential Properties

Court documents reveal that Christensen and his partner, Anthony M. Matic (55) of Damascus, convinced investors to fund the purchase of undervalued residential properties that were then renovated.

The partners told investors that income would be generated by renting the properties and then refinancing them to maximize the increased value of the real estate.

Evidence was that the partners misled investors by telling them they would be repaid in full for the principal investment,  as well as receive interest of between eight and 15 percent and a lump sum payout within 90 days.

Defrauded Commercial Lenders to the Tune of $7 million

Christensen and Matic failed to generate the promised returns. They then used investments from new clients to repay earlier investors.

When this scheme did not attract sufficient funds, the partners devised a scheme to defraud commercial lenders. By the end of 2020, they had received millions of dollars in loans by submitting false financial information on loan applications to different commercial lenders.

Court documents show that the partners received more than $7 million from commercial lenders and more than $11 million from private investors.

Christensen pleaded guilty to conspiracy to commit wire fraud and money laundering, as did his partner, Matic, at an earlier court hearing.

The punishment for conspiracy to commit wire fraud is up to 20 years in federal prison and three years of supervised release.

The sentence for money laundering is up to 10 years in federal prison and three years of supervised release. Fines of up to $250,000 or twice the gross gains or losses resulting from the offense can also be applied.

The partners will be sentenced on 14 October 2025.

The case was investigated by the FBI and the Criminal Investigation Division of the IRS. The prosecutor is Assistant U.S. Attorney Robert Trisotto.