⏱ 2 min read
Robert Christensen and Anthony Matic, owners of a local real estate investment company in Portland, Oregon, orchestrated a $17 million fraud scheme that spanned from January 2019 to June 2023. The duo deceived individual investors by promising to use their investments to purchase and renovate undervalued residential properties, then rent them out to generate income. Instead, Christensen and Matic used new investments to repay earlier investors, while also submitting false loan applications to commercial lenders to keep their business afloat.
The scheme ultimately defrauded individual investors out of more than $10 million and commercial lenders out of over $7 million. Christensen and Matic’s web of deceit began to unravel when they were unable to raise enough money from new investors, leading them to resort to submitting loan applications with false financial information.
The investigation, led by the FBI and IRS Criminal Investigation, uncovered the extent of Christensen and Matic’s fraudulent activities. The case was prosecuted by Assistant U.S. Attorney Robert Trisotto, resulting in Christensen being sentenced to 63 months in federal prison and 3 years of supervised release, while Matic received a 33-month sentence and 3 years of supervised release.
The sentences bring closure to the victims of Christensen and Matic’s real estate investment fraud scheme, serving as a reminder of the severe consequences of engaging in such criminal activities. The case highlights the importance of thorough investigations and prosecutions in holding perpetrators accountable for their actions.
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📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Oregon
- Location: OR
- Source: DOJ Press Release
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